Focused on providing access to debt-free ‘microassets’ for economic development in emerging markets
SINGAPORE – June 1st, 2021 – The International Blockchain Monetary Reserve, an economic development agency, announced today the public beta launch of ARCC.one, a cryptopowered microfinance platform for financial inclusion built on the Algorand blockchain. IBMR will provide support and new financial alternatives to overcome the global economic damage caused by the Covid-19 pandemic – where conventional microfinance and overseas remittance support may not be sufficient.
ARCC.one provides users with a way to earn cryptocurrency tokens for free in exchange for completing socio-economic surveys that cover everyday topics such as personal finances, health, sanitation, public transportation, etc. The survey data is recorded anonymously and uploaded to the blockchain to provide a secure and verified view of local socio-economic conditions in real-time. The earned cryptocurrency can then be used as a ‘microasset’ to invest and grow through asset management services available on the platform. Cryptocurrencies and their globalized networks allow for microfinance to move beyond microloans and remittance and into direct and accessible wealth creation.
ARCC.one is a mobile web optimized platform enabled with a cryptocurrency wallet, digital ID system, no loss lotto savings, asset management and survey rewards system. The public beta will be for a two month period focused in the Philippines, and will gradually open globally to additional markets.
“ARCC.one represents two years of research, planning and software development hand-in-hand with Algorand.” said Sinjin David Jung, Managing Director at IBMR.io. “The best real world use cases for cryptocurrencies are actually in the developing world where access to global borderless finance can immediately change the lives of millions today.”
The ARCC.one platform represents a breakthrough in economic development, as current financial models rely on a credit/debt cycle that perpetuates wealth disparity, gross social inequality and exploitation of the urban working poor. Via their mobile phones, users will be able to easily access the ARCC.one platform and earn free cryptocurrency tokens. Using asset management services on the platform, users can participate in crypto markets without having to onboard with the local money they use for their daily living expenses and emergency family funds.
“ARCC.one leverages Algorand based digital assets to allow users to earn, grow and trade on other crypto platforms,” continued Jung. “This ensures that users will be able to directly participate in the constantly evolving cryptocurrency markets and even traditional financial markets, without having to risk their hard earned money that should be used for living. We aim to eliminate the exploitative socioeconomic systems that currently hinder growth in Southeast Asian economies and support local collective change.”
ARCC.one is built using Algorand, a high performing, public blockchain that is enabling the creation of next generation financial products like ARCC.one. By leveraging Algorand’s advanced functionality, ARCC.one will be able to seamlessly scale by logging verified socio-economic data in real time globally. In the coming months, users will be able to stake their cryptocurrency tokens for community or entrepreneurial infrastructure projects on the ARCC.one platform through a crowdfunding process and opt into microinsurance health plans through the aggregation of cryptocurrency balances.
To learn more about ARCC.one, please visit https://arcc.one
ARCC.one is a microfinance platform that provides users with a way to earn debt-free capital for entrepreneurial investment in the form of a cryptocurrency reward in exchange for completing socio-economic surveys. The surveys cover living standard topics such as personal finances, health, sanitation, and public transportation with an aim to expose urban economic data trends in developing markets. It is expected that through consistent daily participation, this data can be aggregated to support greater social transparency and accountability. Our mission is to eliminate the exploitative systems that currently hinder growth in Southeast Asian economies and support collective social change.
The Asia Reserve Currency Coin is a regional crypto-reserve currency backed by a socioeconomic decentralized information network and a currency reserve structure. Issued on the Algorand blockchain protocol, ARCC is directly accessible and only earned in exchange for completing socio-economic surveys that aim to build radical social transparencies in emerging markets that empower the urban working poor.
The International Blockchain Monetary Reserve, IBMR.io, is an economic development agency founded to solve global inequality through the strategic establishment of decentralized socio-economic structures. IBMR.io is the issuer of ARCC. With a goal to solve infrastructural inefficiencies by reducing corruption through the financial inclusion of the urban working class, IBMR.io hopes to ignite all levels of economic activity in Asia and it’s developing markets. IBMR.io is in strategic partnership with Consensus-Lab China, Mars Finance, Algorand Inc. and ChainUP.