If you read my previous article explaining the project ARCS, you know its basics. How it works, functionalities, and others. In this article, I’m going to explain how the ARCS creates revenue with the AIre ecosystem.
Before getting into that, let’s dive into some company information. ARCS is a project from the IFA group from Japan. Founded in 2014. The AIre ecosystem and ARCS token work together with their main system.
This means AIre collects data from worldwide users and securely store them in a data bank. Other users and companies can acquire this data from the data bank. This whole operation connected with Blockchain technology.
The company’s main mission is to provide maximum value for users and business companies. So how are they provide maximum value for users and other companies? Here comes the rewarding system.
Users who input data into the data banks are rewarded with ARCS tokens at the same time the data is being used. This makes this project so unique and trustworthy.
Okay. How come this concept actually works and unique? Here is the thing. everyone working with data since the internet was released. Maybe over thousands of times, you input data to other platforms through the internet.
For example, think about social media platforms like Facebook and Twitter. Millions of users inputting millions of data every single second. Did they get paid for that? Even you?
With ARCS, it doesn’t like that anymore. You get paid with ARCS tokens for inputting data and the data is being used. Amazing right?
IFA’s Role of this System
IFA or in other words, the main company behind all this, collects fees from third parties when they access user data on data banks. Third-party involvement is so important.
To maintain that, it is necessary to collect more data from users. Therefore, by distributing ARCS tokens, users tend to input more data to the data banks. Such an amazing concept this is.
Third parties can directly acquire data from the data banks for their purposes. The fun part is, the AIre data will be a cheaper alternative to traditional data aggregators and fully compliant since users give consent and are rewarded.
Users will be rewarded with ARX tokens based on 3 major factors. The quality, volume, and data type. ARX rewards will be distributed each and every time the data is acquired.
With the rewarding system, the users will also motivate and they input more data to the data banks which will result in more third party involvements.
Also, these rewards can be used as a payment method in AIre ecosystem applications provided by third parties.