Alre (ARCS) — How blockchain can provide data privacy for the people

The internet is one of the greatest developments ever; it has eased communication at an impeccable level and has contributed to the creation of mega companies that hold valuations greater than the Gross domestic product (GDP) of some countries around the world

While it is not wrong to build capitalist companies and enterprises, the problem the world faces is that centralized internet companies now possess massive amounts of data on most of the population of the world. Most internet companies have business models that holds little regard for the privacy of their customers Google, for instance, has so much data on each person that it could be spread across million of documents

A blockchain way to data privacy and monetisation

While the internet offers huge benefits and has provided great value additives, blockchain is the new technology that holds the key to the next stage of global communication. Some of the major benefits of blockchain technology include immutability and high level transparency. These two factors are imperative for the evolution of the internet into an entity that companies cannot use as tools to trespass people's privacy unless they have been given the permission to do so.

ARCS Ecosystem

Different social media outlets have shed light on the damage that lack of data privacy and monetisation has done and vast portion of the world is starting to become concerned. A new blockchain project Alre (ARCS) is aiming for a solution that can provide an easy means to secure data and monetize it for the data providers. Alre is built to accept data from users and process it into data banks which can be sold to third parties.

Functionalities of Alre ecosystem

• Data input: This is the first functionality of the Alre ecosystem. It allow user to input any kind of data and information into the Alre platform. Alre (ARCS) is build to accept different kind of information such as name, date of birth, job type, hobbies. The Alre ecosystem also accepts more complex data types provided by modern AI smart devices and gadgets — data relating to health/fitness, call routines etc

• Data storage: a vast portion of the data collected by companies and websites on the internet are not processed and stored properly. Lack of proper data storage has resulted in data fragmentation. Alre ecosystem will process the provided data and store that into data banks to preserve the integrity of the data

• Data utilzation: Part of the key problem of data industry is data fragmentation. Too many data is out there in the vast space that are not properly utilised, This has created fragmentation that left data in small bits and pieces. The Alre data bank will provide solution to this problem.

Alre Data banks

One of the major component of the Alre ecosystem is the data banks. Data banks are designed to store all the data provided by people on the Alre platform. The provided data by users are processed and stored. Data banks allow for effective utilisation of data, preserve data integrity and also solve the problem of fragmentation of data.

ARX token listing and trading

The ARX token which is the native token of Alre ecosystem is already listed on multiple exchanges and trading with good volume.

The token is listed on coinmarketcap — which is the largest token motoring and general crypto market traffic and volume aggregator.

Above is the graph of the arcs (ARX token)

Conclusion

We are entering an era where data is extremely valuable digital resource and holds the secret to huge revenue generation and even base product development. As the value of data grows, more companies come with requirement to access data in any way possible. It is therefore necessary that there are transparent mechanisms, through smart contracts, that will ensure that companies abide by the data permissions people are comfortable with and also reward them for providing their private data.

Official Alre (ARCS) links

• Web: https://www.arcs-chain.com/
• Telegram: https://t.me/ARCS_ARX_EN
• Twitter: https://twitter.com/ARCS_ARX
• Whitepaper: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
• Medium: https://medium.com/arcs-arx-official

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