AIre DataBank Deep Dive — Big picture of AIre Databank and AIre App
ARCS is a ERC20-compliant token whose ticker symbol is ARX, and It is also a native token of AIre Data Bank.
In this article, we will explain an overview of AIre Databank and how we use the ARCS on it. In addition, we will explain the concept of the application that will be the interface for the general user.
ARCS / ARX/ AIre
Let’s get clear about the relationship between ARCS, ARX, and AIre before it gets to the point. ARCS is the name of the team, project and token. However, when simply writing “ARCS”, it means a token. “ARCS Team” is the name of the team that contributes to the ARCS project and the base of the team is in Tokyo, Japan.
The “ARCS Project” is a project that is organized to develop DataBank and ARCS tokens. “AIre” is the general term of systems that consist of various systems including the DataBank system explained later. “AIre” means “air” in Spanish. We hope that “May DataBack be as indispensable as air”. “ARCS Token” is a native token of AIre DataBank and It is issued on Ethereum as a ERC20-compliant token.
We did a large burn to reduce the total supply of ARCS from 20 billion to 400 million last month. “ARX” is the ticker symbol of the “ARCS token”, and currently listed on KuCoin and Probit. You can trade ARX / USDT pairs on Kucoin, and ARX / KRW and ARX / USDT pairs on Probit.
※ As of June 10th 2021, transactions, deposits and withdrawals on Probit have been suspended. However, the ARCS team is in close communication with the Probit team and is working to resume. Probit is currently working on token-swap and they informed us that it will be able to resume trading, deposits and withdrawals as soon as it is completed. So we will announce it as soon as there is any update.
Overview of AIre Databank
AIre DataBank is a service that provides various user data to the companies in a fair and transparent manner. This article explains the background and purpose for the development of the AIre DataBank by the ARCS team.
In AIre DataBank, ARCS (ARX) is used as a native token, and users and companies can enjoy the following services by using ARCS (ARX).
Users
- By providing the personal data, uses will receive ARCS (ARX) in return.
- By company’s purchasing your personal data, users will receive some portion of the fee by ARCS (ARX).
- By depositing a certain amount of ARCS (ARX), users will become a VIP member. VIP members will receive more compensation for data provision than regular members.
Corporate Customers
- You can pay with ARCS for the data purchase fee and commission provided by the users.
- if you deposit a certain amount of ARCS (ARX), the fee for purchasing personal data will be discounted.
AIre DataBank consists of three large systems. It will provide the AIre app for users and the data management system for corporate customers. AIre DataBank is supported by a blockchain based infrastructure.
This article describes the AIre app out of the three systems, but the left of the two systems will be covered in the next article, so please look forward to it.
AIre App
The Aire app is the interface that users go through to the Databank. It will be delivered as a web application in the early stages. We will provide the following four main functions.
Management and use of digital ID
- You can manage the registered personal data as a digital ID.
- You can use it as a KYC completed digital ID by entering the data and passing the examination
Personal data registration
- You can register your personal data. You can also provide various data by answering the questionnaire displayed on the app.
- By providing the personal data, you will receive ARCS (ARX) in return.
Authorization of use for personal data
- You can set permission for data usage applications from corporate customers.
- When the authorized company acquires the data by paying ARCS (ARX), you will receive a portiont of the paid ARCS (ARX).
Wallet
- You can manage multiple types of cryptocurrencies. You can deposit, withdraw and check the balance.
- You can deposit ARCS (ARX) to AIre DataBank. When you deposit a certain amount of ARCS (ARX), you will become a VIP member and will receive more compensation.
Next Article?
In this article, we’ve covered an overview of AIre DataBank and the AIre app. However, AIre DataBank has two more important systems. In the next article, we will explain the Data Management System, which is used by companies, and the Blockchain System, which is the infrastructure supporting AIre Databank. Please follow us on Twitter and Telegram so you don’t miss any announcement!
Telegram ARCS Announcement: https://t.me/ARCS_ARX_News
Telegram ARCS English Official: https://t.me/ARCS_ARX_EN
Twitter: https://twitter.com/ARCS_ARX
