The International Blockchain Monetary Reserve, IBMR.io, a social impact economic development reserve and advisory, announced today the launch of the Asia Reserve Currency Coin (ARCC), a macroeconomic stablecoin that will be used to support and amplify the economic development of emerging markets in Southeast Asia.
Founded by the former Vice Chairman of True Money Philippines, Sinjin David Jung, IBMR.io’s mission is to build new decentralized macroeconomic development structures that empower the urban working class in South East Asian countries to be agents of change. By implementing Social Proof-of-Work, which replaces the act of mining with electricity with mining through socio-economic participation and peer-to-peer validation, the urban working class can be rewarded for providing their feedback on infrastructural improvements.
“Our approach empowers the urban working class to report on the inefficiencies that no one else is tracking with real-time data – like reporting prolonged roadwork, traffic travel time and inexplicable random price increases in monthly utility bills,” said Sinjin David Jung, Managing Director at IBMR.io International Blockchain Monetary Reserve. “Through ARCC, we hope to provide 630 million people in Southeast Asia with a platform that can empower them with debt-free capital and radical social transparency for true financial inclusion.”
The ‘Social Proof-of-Work’ network acts as a decentralized information network that aggregates socio-economic data by the users who identify inefficiencies through social mining via a mobile app. By doing so, users are empowered with ARCC coins as debt-free capital that can be mobilized through the new infrastructure for entrepreneurial activity, which increases domestic production.
IBMR.io’s ARCC token can be freely and equally distributed, and it will enable an environment of trust for asset deployment for efficient production. The incentives provided in a decentralized network not only create robust viral relationships and instant widespread impact but also bring the users into a financial system where participation truly matters.