ARCC

- April 04, 2019

Abstract. Bitcoin is the technological achievement of unreliable decentralization of peer-to-peer electronic money, which then leads to the economic achievement of the issuance of new non-fiat global currencies. While ICO through Ethereum has created hundreds of new cryptocurrency, some progress has exceeded the standards that Bitcoin has achieved. The next level of achievement through Ethereum and ICO must be found in cryptocurrency which aims to advance the new decentralized global economic paradigm.

We propose to explore the impact of crypto currencies in the field of 'economic development'. Economic development is the field of bringing developing countries 'third world' out of poverty to 'world first' standards and stability. At present, there is no clear economic development model that provides distributed development that enhances the lives of all individuals more than the established economic elite, namely large companies or community elites who are the main beneficiaries of increasing a country's GDP.

Combining the two major innovations of bitcoin decentralization and incentives, the Blockchain International Monetary Reserve, IBMR, seeks to create a new economic participation model through 'Evidence of Social Work'. In emerging markets, individuals do not have the opportunity to engage in asset accumulation or realize long-term economic prospects due to their own market instability and lack of infrastructure that makes entrepreneurship limited in scope and scale.

The ethos of blockchain technology and cryptocurrency is to create financial structures without trust that create distributed and unlimited capital. There is nothing more important than this for emerging markets to come out of structured oppression of powerlessness and poverty.

Evidence of Social Work, replaces the mining of electricity by mining through socio-economic participation and peer-to-peer validation. Through the IBMR Economic Development Platform, individuals from emerging markets will be able to mine the Asia Reserve Currency Coin through a decentralized electoral and socio-economic survey system.

ARCC which is mined in the IBMR Proof of Social Work network can then be used in the network towards regional cooperative infrastructure and industrial investments that support regional competitiveness and market stability. The results of this survey contribute to radical transparency which directly overcomes the biggest obstacles to development which are systemic corruption by the economic elite.

The ARCC itself will take on the role of a 'cryto-regional reserve currency'. All emerging markets face a high level of volatility that affects the stability of the currency, which in turn affects overall national investment and market sentiment. But at the regional level, regions such as Southeast Asia, have shown consistent growth.

The ARCC will: (i) harmonize its basic values with regional economic growth through investments in infrastructure projects and regional industries, (ii) save reserves of fiat and crypto currencies to provide basic values for the ARCC, (iii) be distributed directly to individuals in the region, and (iv) through Evidence of Social Work creating the first decentralized regional economic development network.

The distribution network, IBMR EDP (International Blockchain Monetary Reserve Economic Development Platform) will consist of: (i) regional IDs and wallets; (ii) Evidence of Social Work Platforms where participants 'mine' their ARCC through socio-economic surveys, voting, and education courses, and (iii) internal investment platforms that only accept ARCC obtained through 'Evidence of Social Work'. 12.5% of the total ARCC originally printed, will be distributed en masse based on the Evidence of Social Work model through IBMR EDP to the Southeast Asian region.