Asia Reserve Currency Coin (ARCC) - Stablecoin Cryptocurrency to reduce Corruption
We have repeatedly seen in the news on television, newspapers and digital media about the presence of a number of government officials who corrupted state funds in huge amounts so that they could build houses, own super luxury cars and jewelry. Because of corruption, many countries are dead or unable to progress.
On this occasion there was a project whose idea was aimed at new transparent relations between all people, and reducing the amount of corruption.
What is the project? Who is the team behind the project? What are the benefits of the project? below is a discussion of the project.
About IBMR and Asia Reserve Currency Coin (ARCC)
IBMR or International Blockchain Monetary reserve now is working on a stable coin project called the Asia Reserve Currency Coin (ARCC) with expectations to resolve public reporting problems and reduce the amount of corruption.
For those of you who don't know about IBMR, IBMR is a company registered in Singapore, and the first focus of development is Southeast Asia. Through ARCC publishing and support, Asia Reserve Currency Coin, IBMR has a goal to break the cycle of poverty, corruption and wealth gaps in emerging markets through the decentralized property of cryptocurrency and blockchain technology.
Furthermore, you must be confused about what is the Asia Reserve Currency Coin (ARCC), the ARCC is a macroeconomic stable that aims to become a regional crypto reserve currency supported by socio-economic networks and currency reserve structures.
ARCC Built on a decentralized network or blockchain technology, the ARCC has a plan to create an enormous impact instantly through entrepreneurial empowerment in a decentralized financial system where participation is truly important.
Asia Reserve Currency Coin (ARCC) Team
Sinjin David Jung as Founder and Managing Director, he founded one of the leading fintech companies in the Philippines, True Money Philippines, licensed under the Central Bank of the Philippines (BSP) and is part of the biggest fintech network in Southeast Asia, True Money. Sinjin David Jung has been the chief strategist and negotiator for more than 6 years in Southeast Asia for infrastructure and game projects with a focus on regulation and operational arrangements. He is the Asia Regional Director for Pokerstars, the largest online poker game company in the world and is the main marketing force and regulator for game introduction throughout Asia.
Sinjin David Jung has an MA in International Business from Korea University and is an alumnus of the Harvard Kennedy School EE in Economic Development. David's responsibilities include long-term strategies and negotiations with national level networks for ARCC adoption. The main focus is to ensure that ARCC complies with existing regulations and overall business growth. Sinjin David Jung is also the head of the research and advisory division.
In addition, there is Stanley K. Kwok, as the Co-Founder and Executive Director who is responsible for the strategy and regulation of Currency Reserves and investment branches. And there are 4 more teams that are professional in their respective fields. You can see the entire ARCC team here.
Benefits of the Asia Reserve Currency Coin (ARCC)
The main benefit of the ARCC project is that it will bring people closer to the world of cryptocurrency. People can report events, validate them, and get tokens without having to invest money in them. All they need is their energy and time to help produce accurate and reliable data.
With this project, it means that the public can use data to hold governments accountable for their affairs. If their government is proven to be corrupt, they can prove it from data recorded on the blockchain and requests for action to raise the economic profile of their country and the region as a whole.
ARCC Details ICO
The ARCC is backed up by the economic system that is obtained for increased regional adoption, value and productivity. The ARCC intends to support the poor population class. The decentralized economic model of IBMR, intends to provide a backup of this cryptocurrency.
The ARCC team has the intention to print coins for the next 40 years, by releasing the annual token portion. This method will help to regulate the monetary policy mandate throughout the Southeast Asian region.
There are 5 Stages of methods for using annual ARCC tokens.
1. Social Proof of Work: ARCC Annual Allocation through ARCC annual mining will be limited to the amount determined and taken from the annual collection. The mining level will be scaled every week based on the frequency and ARCC coins left for the collection. Each market will have its own annual collection allocated for mining.
2. Airdrops: Airdrops are held for new users, 16-year-old users will qualify for an airdrop in their 16th year.
3. Currency Reserves: IBMR will sell to the market if the ARCC price becomes speculative or above the monetary policy mandate and obtains further foreign currencies such as USDT, BTC etc. Each new ARCC printed yearly in Currency Reserves that are not used at the end of the year can be burned if the last ARCC 3 month value is less than the annual average value. The decision will be decided by the ARCC Monetary Policy Board.
4. Regional Investment: ARCC will be used to become new investments, grants, scholarships and regional competitions as ARCC. If no suitable investment is available for the year that meets the investment criteria, the ARCC excess will be burned at the end of the year before new printing.
5. Management and Operations: ARCC will be used to cover management salary costs, operations and development and performance bonuses. As a social impact project, this model will make significant changes in addition to being competitive funds. Thus, the focus on management is to find the best and most qualified staff in the public and private sectors.
You can see the token distribution in the first phase of the 18 year period:
And furthermore, token distribution in the second phase of the 22 year period:
The explanation above is a small piece of information from the Asia Reserve Currency Coin (ARCC) project, if you want more information, you can visit their website below.
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