Introduction to Alre Ecosystem
As we increasingly use data in new ways, we need systems that can not only keep up, but which can offer capabilities to further innovation. Its obviously the computer and information age, and we are drowning in data. As early as 2013, it was estimated that 90 per cent of all the data in existence had been created in the few years prior, and the speed has only picked up since then. Humans and machines are constantly generating tsunami of data. Along with the great volume of data generated, we have also made great amounts in the breadth of what we are able to collect, store and analyse. The amount of data is only going to increase with the rise of big data. With the Internet of Things (IoT), Artificial Intelligence (AI) and Advanced Analytics driving the trend for big data, it is expected to represent 30 percent of data stored in data centers by 2021. Blockchain contains what everyone in data management, from data scientist to chief data officer (CDO), wants: information that comes with complete provenance. That is, data showing who did what, when and with full history from day one. Verified by all parties participating in the network, transparent, with complete reconciliation, and secured by the latest in cryptography.
Alre is an ecosystem that specifically deals with data bank and their users. It provides functionality for data banks so that they can operate effectively and transact with business and individuals. Alre provides service for management and storage of various data structures in “data banks”, which are essentially a business to monetize data. Alre is composed of three main functionalities;
Information Input: Users can input basic personal information, such as gender, address, links to social media accounts, text from blogs and answers from questionnaires. Users will receive tokens as incentives based on the information inputs and frequency of utilization. This is a win-win situation. Users input data and receive incentives in return.
Information Storage: Information is stored in the data bank system, the system automatically calculate hash values of the data and store it in the blockchain. Blockchain is designed to be transparent and secured. It helps users with data to ascertain if it has been tempered with or not.
Information Utilization: Companies would be able to integrate their businesses and applications with the data banks or even develop their own data banking system via Proprietary Alre APIs. The system controls which data to be accessed by participants and the rewards distributed to them.
What if businesses, public bodies and even individuals could actually share all their data as far as they wish to, without being worried or their data being tampered with? This is the goal and vision of Alre, who guaranteed the integrity of data by using a faster proof-of-work concept most commonly used in digital currency. With its blockchain-based system guaranteeing the link of shared data, Alre believes organization and individuals who are willing to share their data would be more comfortable and confident in doing so. Thanks to smart contracts technology – digitally signed agreements made via distributed computing platforms like Ethereum, data are stored publicly, thereby preventing fraud. By joining the blockchain marketplace, producers, sellers, and consumers get the opportunity to sell and buy on a platform that offers a high level of trust and transparency and lets them interact with their own rules with no restriction whatsoever imposed by any third parties. Blockchain technology makes it possible to think of our data as a scarce digital asset that can be owned, rented, and sold in new ways. As our money becomes data, our data is becoming money. We can obviously create a more consensual system: a fair day’s wage for a fair day’s data. Market based on data stored in personal digital vaults, referenced via blockchain-tracked tokens and financed via cryptocurrency microtransactions definitely could make Data Farmer and Digital Day Trader lucrative careers of tomorrow.
The vision of the Alre project is a desire to improve all-round well being of people all over the world in all ramifications. Alre enlighten users to know the value of data they own by rewarding them with incentives. Participants will be able to freely buy and sell their data in compliant with personal data regulations and with the help of smart contracts technology. Also, Businesses buy data from users to improve their data analytics, giving them meaningful insight. Alre envisage to make buying and selling of data part of our lives whilst providing adequate privacy and fair distribution of data trade.
The Alre blockchain based ecosystem would provide great features which are, but not limited to;
Good data quality; blockchain inherently provides a validation to the blocks of data. The data needs to fit into a specific structure and only then can the block be inserted into the blockchain. If the data doesn’t fit the rigid requirements of the blockchain, it will be rejected. Also if the data is not accurate as it needs to be, it doesn’t get into the block. This ensures a better quality of data is stored in the blockchain.
Reference Data; it will help in collaboration between two non-competing parties who like to maintain contractual data between them. This particularly applies well for financial companies who have to share data with regulatory agencies. It could lead to an accurate and automated blockchain reference data reducing cost and operational risks.
Decentralization hosting; blockchain-based marketplace is hosted by its users and supported by their computing power. This constant maintenance ensures that a marketplace is always accessible. Besides, rethinking how data hosting is organized can lead to more security, privacy and transparency. Another result of removing centralized system is the ability to avoid hosting cost altogether and set the lowest possible prices for producers, sellers, and consumers.
Other features include; flexible terms, low fees and low price, secure environment, product transparency, and smart contract technology.
ARCS Token
ARCS is a native token used in Alre ecosystem. It is a ERC-20 token which can be held In the wallet or traded on the exchanges that list ARCS. The token is mainly used for incentivizing users and to give access to Alre services. The token has a total supply of 20 billion.
Team
The team is vast and experienced in blockchain technology having a great insight as regards data management.
Conclusion
Some experts say there is no question that the blockchain has obviously changed the game for online marketplace such as Data Banking. Others believe that, so far, traditional online marketplaces don’t need to worry about this technology. However, there is no point in denying that the blockchain is gradually disrupting many industries, retail among them. Blockchain contracts adoption enhances transparency, speed, and granularity of decision making, as its continuous verification makes the data more accurate, reliable, and trustworthy. Organization and users which avail of blockchain smart contracts benefit from the associated increase in data quality. Alre mission is to create an ecosystem, where users, organization, business owners would be able to buy and sell data in more secure and transparent environment with the help of blockchain technology.
Website - https://www.arcs-chain.com/
Telegram news channel - https://t.me/ARCS_ARX_News
Telegram group – https://t.me/ARCS_ARX_EN
Twitter – https://twitter.com/arcs_arx
Medium page - https://medium.com/arcs-arx-official
Bitcointalk username - andreikuleev
Bitcointalk profil link - https://bitcointalk.org/index.php?action=profile;u=2502955
Ether address - 0xFD546F4CbdeBf7eD0aFB1Bd60BD0B51e2a500937