In recent years, personal data has become increasingly fragmented across different services and frequently rests in databases without proper user consent. This leaves users without proper control of their data and, to some extent, their identity. the EU General Data Protection Regulation (GDPR) was brought into EU law to handle this problem, however, corporations still accumulate large volumes of private data for analytics and monetization.
Data is commonly described as the new oil and users are fast becoming responsive to the worth it holds. This has given rise to many data banking businesses who strive to buy data and sell for profit, nonetheless always with the interests of huge corporations in mind. AIre is made with mechanisms to provide a fairer distribution of profits made of personal data by giving users self-sovereign identities.
Tokenize the worth Held by People, and provides All People Sovereignty Over Their Data
With ARCS Token, AIre solves the matter of inefficient data use. Currently, each company only stores and uses some of the data its users leave online. Therefore, an entire and accurate profile of users can not be collected. Users generally have negative feedback on the present use of their data because the data and or recommendations they receive as a results of it getting used are often inaccurate.
To solve these issues, AIre enables unified management of user data which allows for data to be used with consent and data rights protected. ARCS with Alre belief that this mechanism can provide a good range of application services for users. ARCS visits the interface which might offer these services as a next-generation bank. the subsequent generation bank could be a comprehensive digital wallet necessary for the approaching era of digital transformation.
A single service provider won’t provide all services and every service provider will provide their service as a part of a next-generation bank using a single token. The next-generation bank is a digital wallet that handles these services. AIre tokenizes valuables as security tokens through the info bank, like stocks, property, art, etc., and makes payments/transfers using cryptocurrencies. Further details are described within the future development section.
AIre utilizes this data to make new evaluation standards. additionally, to making sure compatibility with other participant companies on the AIre platform, AIre will take the initiative in handling new technologies and ideas regarding user data management to become a real user sovereign platform.
AIre, An Ecosystem Centered Around Data Banks and their Users
Powered by ARCS Token Alre provides functionality for data banks so they’ll operate effectively and transact with businesses and individuals. This section outlines AIre, its functionality, and its business model. It also includes an outline of measures to forestall data tampering by using blockchain technology and interconnected data bank hubs.
AIre provides functionality for the management and storage of varied data structures in data banks, which are essentially a business to monetize data. Network participants can access and build upon AIre via custom-built applications or directly through proprietary APIs. This provides a flexible framework that produces it easy for companies to create their business scenarios and applications with powerful insights from data analytics.
AIre comprises of three main functionalities: information input, information storage, and data utilization. Data banks are at the core of the system for storing data, and APIs enable facilitation and orchestration of information flow. AIre can handle different data sources and manage data ownership, as an example, fragmented data from different sources is linked to rightful user identities within the data bank. As a result, users can manage their data in one integrated network.
ARCS Token Issued to form its Construction Faster
The AIre token economy is centered around the ARCS token. Below could be a description of the token, its economy, and its functionality. ARCS is that the native token of AIre. It is held in wallets that support the Ethereum ERC-20 token standard and be traded on exchanges that list ARCS. it’ll fluctuate in keeping with market conditions. ARCS is principally used for subsequent purposes like Incentives for users and Rights to use the AIre service.
Many internet users feel uncomfortable when providing personal data to services because of the recent knowledge of huge corporations misusing personal data. AIre incentivizes users for the data they provide, which is predicted to lower resistance to storing personal data.
The token economy is meant to expand the ecosystem organically since participants will receive unique benefits from using the ARCS token as opposed to fiat currencies. The core value of AIre is that the data that the info banks hold and ARCS is that the global network currency that data buyers can use to buy data.
ARCS Token flow is such following order. Users input data into the AIre data bank and receive ARCS as a gift, then Companies who wish to acquire data from the info bank will first buy ARCS from an exchange, subsequently, the companies can then buy data from an information bank with ARCS. At the identical time, users are rewarded for his or her data and IFA will collect a commission fee for delivering the service, Last but not least Companies can utilize the info for their services and offer it to AIre users in return for ARCS.
ARCS with AIre aims to visualise the value of people through tokens. As assets are tokenized, different asset types are exchanged in real-time. There are many varieties of assets, like assets, art, and securities, but there’s currently no platform that could handle them with one interface. I personally think that by tokenizing various sorts of assets, the assets are used as a type of money, and economic activities are further encouraged. as an example, you’ll get insurance by tokenizing a car you own and taking part in it, or sell art by tokenizing it while it remains on display. Also, since one large asset is subdivided and owned by multiple people, it’s possible to lower the barrier to investment and encourage larger markets.
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