IBMR.io, a social impact economic development reserve and advisory, has just announced the launch of the Asia Reserve Currency Coin (ARCC).
ARCC is a macroeconomic stablecoin that will be used to support and amplify the economic development of emerging markets in Southeast Asia.
IBMR.io is founded by the former Vice Chairman of True Money Philippines, Sinjin David Jung and aims to build new decentralized macroeconomic development structures that empower the urban working class in South East Asian countries to be agents of change.
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.
The Chinese company Grand Shores Technology Group has also recently announced that it is developing a stablecoin that will hit the Chinese market in February of 2019. The company is backed up by the Chinese government of Hangzhou, which is the capital of the Zhejiang Province.
Coinbase added its first stablecoin in October last year, while Bitcoin Cash’s new smart contract platform Wormhole launched stablecoin in November 2018.
The stablecoin approach for Israel and Iran is wait-and-see for now.