Asia Reserve Currency Coin (ARCC), also known as the world’s first micro asset, was developed in an effort to remove poverty, exploitation, and wealth disparity in the emerging markets. ARCC aims to achieve this using the decentralized effects of blockchain having no central intermediary. Besides that, ARCC enables the financial inclusion of the urban working people in Southeast Asia.

ARCC is built on Algorand blockchain protocol which aims to have a permissionless, stable, and scalable network capable of supporting high transaction throughput. Further, ARCC’s adoption seeks to secure its decentralized information network and provides financial inclusion for its users.

According to the whitepaper, the most exciting feature of cryptocurrencies is their ability to provide financial inclusion. New technologies like mobile telecommunication have greater influence in emerging markets than in developed countries. The barriers to adoption are highly dependent on the infrastructure and the capital. Thus, considering this structural issue, ARCC aims to focus on the financial inclusion and participation of urban working poor in emerging markets.

Another important feature of ARCC is ARCC.one fintech platform (mobile app), which seeks to be a complete ecosystem for earning, growing, and deploying ARCC as a micro asset. ARCC.one asset management services aim to allow users to participate in the projects where IBMR.io has made the investments, including joint-equity participation projects.

Further, ARCC is the native token of the platform that utilizes social proof of work (SPoW) on the ARCC.one fintech network. It seeks to enable users to earn tokens by participating in socio-economic surveys or directly reporting, identifying, and cross verifying the corruption points such as illegal garbage dumping, deteriorating public infrastructure, etc., in urban areas. Thus, users get a chance to earn ARCC by completing surveys, contributing to a decentralized information network that stores the survey data.

ARCC was launched by IBMR.io. The whitepaper of the project was released on December 12, 2019. ARCC also had a technical brief paper, which was released on November 3, 2019. The team of IBMR.io includes Sinjin David Jung as founder (MD) and Stanley K. Kwok as cofounder (ED), along with other experienced advisers and official staff. 

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