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IFA: The Birth of the New Token ARCS Toward a Society Where the Value and Ideas of Individuals Can Be Converted to MoneyIFA CO., LTD. (CEO: Masashi Mizukura) has developed the token ARCS (ticker symbol ARX) based on blockchain technology. The product platform AIre, which uses ARCS, tokenizes the values held by people to enable exchange, monetary conversion, requests, purchases, and more. Tokenize the value held by people, and give all people sovereignty over their data IFA, a provider of products and services using blockchain technology, has developed ARCS, a token based on new blockchain*1 technology. The product platform AIre, provided through the use of ARCS, visualizes and tokenizes*2 the various values held by people.
*1 Blockchain is a technology for recording the transaction histories of decentralized cryptocurrencies. There is no specified administrator or issuer; transaction histories are monitored and managed by users, making fraudulent transactions or falsification of data difficult.
In the past, it has been difficult to clarify the values, ideas, and other intangibles held by individuals, creating a tendency toward structures that are advantageous to companies. Tokenizing such values of individuals will enable free exchange, monetary conversion, requests, purchases, and more, with all persons able to hold sovereignty over their data. In the platform AIre, ARCS will be used mainly for the following purposes.
1. Incentives when users enter information into AIre
AIre accumulates information from users who make use of various services and companies, such as signing up for a credit card or becoming a member at a store. This accumulated data takes on great value for both the company and the users Companies can use the abundant information obtained from AIre to develop compelling services, and ARCS can be used as a settlement method for the services. In the future, incentives (cryptocurrencies, tokens) will be given to users as consideration for providing information. We are also planning to issue a stablecoin (a cryptocurrency with a stable price) secured by ARCS. The price of ARCS, which will be traded on cryptocurrency exchanges, will vary according to supply and demand. For this reason, companies that conduct settlement with ARCS in order to use AIre will be subject to inconvenience due to fluctuations in the price of data at the time of settlement. Issuing a stablecoin and switching the settlement currency within AIre to the stablecoin can solve this inconvenience. Preparations are currently underway for listing on KuCoin(https://www.kucoin.com/), the cryptocurrency exchange for ARCS, at 6PM(UTC+8) on December 3, 2019. Trading will initially take place as a currency pair with USDT (Tether), under the ticker symbol "ARX."
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About IFA CO., LTD.
Overview: With the next-generation banking platform AIre, developed and operated by IFA CO., LTD., we are aiming for a world in which all people have sovereignty over their own data. This will not be a traditional centralized asset or information management society, but rather a decentralized society in which new standards created by users become the norm. Toward that end, we will be using distributed ledger technology (DLT).
Our policy is to deepen partnerships with companies and regions whether in Japan or overseas, through technological approaches that make complex technology more familiar. We envision doing so under a wide variety of partnerships.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191203005393/en/ |