ARCS(ARX) Official
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ARCS(ARX) Official

AIre DataBank Deep Dive #2 — Data Management System

In the previous article, we explained the big picture of AIre Databank and the AIre app which is one of the three systems that make up AIre Databank. If you haven’t checked it yet, please check it out!

In this article, we explain the Data Management System which is the second of the three services that make up AIre Databank.

Data Management System

Data Management System is a system that bridges users and corporate customers. AIre Databank may be realized by using front-end apps and smart contracts on the blockchain only. However, as you know, the current blockchain is not high performance. Therefore, If everything is processed through blockchain, it causes bad user experience. The Data Management System is a system that compensates blockchain’s performance, and provides various functions that improve its usability to users and corporate customers. The main functions provided by the Data Management System are as follows.

Data Dashboard

Data Dashboard is a function for corporate customers and it is used to purchase data from users and also manage the purchased data. In the previous article, we explained that users’ data is purchased by using ARX. However, many corporate customers are not positive about holding and using cryptocurrencies for payment due to accounting or legal issues. Therefore, Data Dashboard plans to accept payments by Fiat currencies in addition to payments in ARX.

When customers pay with Fiat currencies, the same amount of ARX is purchased from the market and a portion of it is returned to the user. Thus, the companies that do not want to hold cryptocurrencies will also be able to use AIre DataBank. The Data Dashboard also displays a list of purchased data and the data available for purchase and also download data.

Wallet Management

Manages wallets for users and corporate customers. Specifically, it will display your balances, purchase history, receipt history, transaction history, etc.

Data Analytics Engine

The raw data is not as valuable as it is, so we need to derive meaningful insights from it. The Data Management System provides data analytics services to corporate customers.

What is data used for?

How to use the data managed by the Data Management System? We expect it to be used to support the purchase of products that purchase infrequently and at high prices.

Let’s think about purchasing your house in the future. When purchasing your own house, you need to consider various things such as your lifestyle, hobbies / preferences, family structure, commuting to work, etc. And you also need to contact many real estate agents to find a nice house. However, probably you will be tired of providing the same information and asking the same questions at the realtors you go to. On the other hand, even from a real estate agent, it is necessary to propose the best house for you based on your limited information.This situation causes unhappiness for both of you and the realtor.

The fundamental cause for this unhappiness is that you need daily data to make decisions and suggestions for the realtors, but there is no way to share that data efficiently. Here, AIre Databank and the Data Management System can solve this situation. You will actively register your data on AIre Databank, because with the data registration, you can receive ARX. One day AIre Databank may become a system that knows you better than yourself.

In this situation, if the real estate agent accesses your data via the Data Management System, the real estate agent will have enough information about you. In this way the fundamental cause was solved.

Next Article?

We’ve explained an example of a real estate agent accessing your data. However, you don’t want to give all of your data to a real estate agent. AIre Chain, which will be described in the next article, realizes appropriate authority management by using the mechanism of blockchain and smart contract. Please follow us on Twitter and Telegram so you don’t miss any announcement!

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