ARCC Whitepaper Oct 2018

ARCC, ASIA RESERVE
CURRENCY COIN
Eliminating Corruption in Emerging Markets through
the Issuance of a Stablecoin Regional Crypto-Reserve Currency
and ‘Social Proof of Work’ Network Adoption Model.
International Blockchain Monetary Reserve (IBMR.io)
David Sinjin Jung

david.jung@ibmr.io
www.ibmr.io
WHITE PAPER 2018.08.12 / Version 11.3

Introduction Part 1 Part 2 Part 3 Part 4 Part 5 Appendix &
ARCC, Asia Reserve Currency Coin
Decentralized ASEAN Regional ARCC Token enconomy Product development IBMR.io Attachements
economic Crypto-Reserve ARCC social proof of
Whitepaper development Currency Use Case work
Business set-up
“ARCC creates and reallocates wealth

through the elimination of corruption.”
About IBMR.io Abstract

The International Blockchain Monetary Reserve, IBMR.io, is a social impact Bitcoin is the technological proof of concept of the decentralization of peer-to-peer
economic development reserve and advisory established to promote trustless electronic cash. Bitcoin and its underlying blockchain has led to the economic
distributed inclusive economic development for the urban working poor in achievement of the issuance of a new global non-fiat currency. The innovation of bitcoin
corrupt failing emerging markets through the issuance of regional ‘crypto- is also an economic innovation in providing an incentive structure that is able to support
reserve currencies’ supported by corresponding decentralized economic a decentralized network. The strongest use case for cryptocurrencies can be found in its
structures, underlying assets and regional market alignment. crisis currency adoption in unstable emerging markets. Yet, this use case does not solve
the greater structural economic issue facing emerging markets, namely systemic corruption
‘Social Proof of Work’ is the basis for IBMR.io’s economic development model and financial exclusion. IBMR.io proposes a social impact solution for the economic
which creates an inclusive wealth distribution network that fosters radical development of the emerging markets in Southeast Asia by creating a ‘Social Proof of Work’
social transparency for a corrupt-free entrepreneurial environment that allows network that rewards users with ‘ARCC’, Asia Reserve Currency Coin. The ‘Social Proof of
for the optimal deployment of a ‘crypto-reserve currency’ as a ‘micro asset’ Work’ network allows for users to participate in socio-economic surveys or directly report,
for production. identify and cross-verify points of corruption in urban areas. The aggregated verified real-
time data of corruption can be used to finally publicly expose the extent and scope of the
IBMR.io is registered in Singapore, and its first focus of development is systemic corruption. Users would be incentivized to participate in the network by earning
Southeast Asia. Through the issuance and support of ARCC, Asia Reserve ARCC through the act of social mining. ARCC mined by the user would be subject to a
Currency Coin, IBMR.io intends to break the cycle of poverty, corruption and 3-year vesting schedule, as the objective is to provide debt-free capital for entrepreneurial
wealth disparity in emerging markets through the decentralized properties of investment. As such, to act as a sufficient long-term incentive, ARCC itself would derive its
cryptocurrency and blockchain technology. value by being positioned as a stablecoin ‘regional crypto-reserve currency’ and a ‘micro
asset’. This would be accomplished through a sovereign wealth fund structure composed
of a ‘foreign currency reserve’ with an inflow of funds from ‘underlying assets in regional
investments’. The ‘Social Proof of Work’ network would also act as an asset management
network for any ARCC mined. The ARCC ‘Social Proof of Work’ network, by simultaneously
removing corruption and enabling financial inclusion, would enable a transition to a new
economic model of a radically transparent efficient entrepreneurial environment for micro-
capital deployment, development and productivity.
ii www.ibmr.io www.ibmr.io iii

Business set-up
Table of Contents
00 01 02 03 04 05
Introduction Decentralized ASEAN Regional ARCC Token Product IBMR.io
economic Crypto-Reserve economy development ARCC Business set-up
development Currency Use Case social proof of work
2. 7. 8. 13. 20.
ARCC Economic Development 7 Southeast Asia ARCC Token Raise Social Proof Organizational Structure 54
as an Emerging Market 26 and Minting Schedule 31 of Work Network
3. App Functionality 41 21.
Social Proof of Work Network in 9. ARCC Audit 54
Application 12 ARCC Monetary Policy Mandate 37 14.
Initial Token 22.
4. 10. Launch Airdrop Via ARCC Governance 55
ARCC as the Incentive ARCC Token Economy & Valuation 37 Traditional Mass Media 43
for the Social Proof 23.
of Work Network 15 11. 15. Executive Management 55
Phase One of the ARCC Future Social
5. Token Economy 20% Proof of Work Network 24.
ARCC Crypto-Reserve Continuous Annual Mint 38 Use Cases 43 Executive Advisors 56
Infinity Loop Network
Valuation Proposition 23 12. 16. 25.
Phase Two of the ARCC Blockchain Audit Partners 57
6. Token Economy Functionality of
Concluding Remarks of Part 1 24 2% Continuous Annual Mint 40 Transactions and 26.
Balance via zkLedger 44 Risks57
17. 27.
Anonymous Id Future Platform
for Survey Data 44 Development 60
18. 26.
Centralized Technical Concluding Remarks 61
Development Overview 45
19.
ARCC Decentralized
Development Technical Brief 48
iv www.ibmr.io www.ibmr.io v
Overview Part 1 Part 2 Part 3 Part 4 Part 5 Appendix &
Decentralized AESEAN Regional ARCC Token enconomy Product development IMBR.io Attachements
Business set-up
00
‘I am certain that after the dust of centuries has passed over our cities, we, too,
will be remembered not for victories or defeats in battle or in politics, but for our
contribution to the human spirit.’
JOHN F. KENNEDY (1962)
1. Introduction
Overview The problem that this project is solving is the economic development of corrupt emerging
markets. More than a complex issue, corruption is usually the unsaid elephant in the room
that is avoided because of the scale and scope of the problem. Yet, without addressing
systemic corruption, all other types of economic aid and policy are rendered ineffective for
long-term change. Contrary to reports otherwise, the growth in these emerging markets
does not translate into greater standards of living for the majority of the urban populations,
namely the urban working poor. But by directly addressing the corruption that affects the
urban working poor as well as providing an inclusive economic framework for long-term
capital gain and entrepreneurial investment, the cycle of wealth disparity and poverty can
be broken.
The scope of the project may seem overwhelmingly ambitious, but it is a necessary one.
Systemic corruption and exploitation is normally identified as a political issue. NGOs
and other foreign government-based agencies are restricted from dealing with another
country’s corruption as a primary objective due to the political costs and potential to
be restricted or even rejected from a host nation. Local individuals are easy targets for
exploitation and manipulation or else are too caught up in the system trying to survive to
be able to mount a significant coordinated community defense. Simply put, before the
advent of cryptocurrencies and blockchain technology, mounting any type of challenge to
a systematically corrupt system would have been a near impossibility task. While social
media exists to rally and inform people of corruption, it does not necessary translate into a
sustained network that can compete with the existing centralized power, nearly impossible
task. Even social counter-mass movements are easily fragmented when the centralized
power makes superficial concessions for short-term appeasement.
2 www.ibmr.io www.ibmr.io 3
Overview Part 1 Part 2 Part 3 Part 4 Part 5 Appendix &
Decentralized AESEAN Regional ARCC Token enconomy Product development IMBR.io Attachements
Business set-up
We propose a social impact decentralized approach solution for the inclusive economic further verified by other users, and a completed outline and scope of systemic urban corruption
development of the emerging markets in Southeast Asia based on the innovation of can be mapped. This exposure is the first step in creating a counter political mandate for
cryptocurrencies and the blockchain technology. The advent of cryptocurrency and governments to recognize and consider over that of the economic elite. The ‘Social Proof of
blockchain technology has provided the ability to apply an independent decentralized Work’ network is maintained through the issuance of ‘ARCC’, Asia Reserve Currency Coin as
structural solution from the ground up, rather than to modify or create competing an incentive. ARCC is structured as a stablecoi n ‘crypto-reserve currency’ for it to act as a
counter systems to existing corrupt centralized systems. A decentralized economic long-term regional ‘micro asset’ as well as constant incentive for network participation. The
system is functionally distributed and financially inclusive while creating radical objective is to provide socio-economic mobility for the urban working poor in emerging markets
transparency as an inherent condition. It does this by being independent of the current by exposing corruption and empowering their entrepreneurial capabilities through financial
barriers, restrictions and inefficiencies created by a corrupt centralized system. It can inclusion.
do this because a truly decentralized economic structure directly contributes to the
productivity of the participants through the unrestricted acquisition of capital, i.e. in the While this is an extremely ambitious task in scope, the application is straightforward. In Part 1,
form of network incentives, and is independent from exploitive centralized rent-seeking we explain the economic development model for the ‘Social Proof of Work’ network and how
costs as users contribute to the health and scope of this new decentralized network. it provides an independent, decentralized approach to decreasing corruption and increasing
The result provides an alternative system that can act as either an independent entrepreneurial productivity. Part 2 presents the framework for the social impact economic
decentralized economic system or as a superstructure to the existing centralized value proposition that backs the value, growth and sustainability of ARCC as a stablecoin
system. ‘crypto-reserve currency’ and ‘micro asset’ that provides the incentive for the ‘Social Proof of
Work’ network. Next, in Part 3, we present ARCC’s regional application in Southeast Asia. Finally,
As such, this white paper is presenting a new economic development model based on we conclude in Part 4 with the practical set-up of the framework, including the ARCC token
the power that cryptocurrencies have for financial inclusiveness and empowerment. economy, the organizational structure, risks and social impact.
The very act of financial inclusion is an act of empowerment for those without rights
or representation. The incentives provided in a decentralized network not only creates This is a project seeking to change the lives of over 630 million people in Southeast Asia which
robust viral relationships and instant widespread impact but also brings the users into a has only become possible because of technological innovation of the blockchain that rests upon
financial system where their participation matters. The application of cryptocurrencies the shoulders of the internet, smartphones and the international community. This is the first
will have its greatest impact here, in these emerging markets. This is accomplished by time in modern human history that something with a world-changing socio-economic scope
addressing corruption to create a platform for entrepreneurial empowerment and the and impact like this is possible. Bitcoin is the proof of concept of a decentralized financial
capital to go along with it. system, and ARCC will be the ultimate proof of concept of cryptocurrencies as a solution for
global financial inclusion and economic development. It is just a matter of being courageous
We first establish a ‘Social Proof of Work’ network which works as a decentralized enough and human enough to realize that this is a worthy cause. Together, this is our
information network that aggregates socio-economic data by the users who identify contribution to the human spirit.
points of urban systemic corruption. Users participate in a wide range of socio-
economic surveys as well as report on points of urban corruption. This information is
Business set-up
01
Decentralized
2. ARCC Economic Development
Figure 1: ARCC economic development matrix
Economic
Development
=
Function
=
Mechanism
economic Lowering of Corruption

Radical Social
Transparency
Social Proof
of Work Network
development +
Access to
+
ARCC:
+
Financial Inclusion
Debt-Free Capital Network Incentive
2. ARCC Economic Development 7 = = =

3. Social Proof of Work Network in Application 12
Efficient ARCC: Regional
Increase in Long-Term
4. ARCC as the Incentive for the Social Proof of Work Network 15 Entrepreneurial Crypto-Reserve
Urban Productivity
Market Currency
5. ARCC Crypto-Reserve Infinity Loop Network Valuation Proposition23
6. Concluding Remarks of Part 1 24

We define the problem that ARCC is solving as the economic development of failing emerging
markets. This model identifies the reduction of systemic corruption as well as a need for access
to debt-free capital as the prime factors to be addressed. The resolution of the combination of
these two factors leads to an increase in long-term urban productivity. Functionally, the lowering
of systemic corruption would be an environment of radical social transparency which would
allow for deployed debt-free capital to have the maximum chance for entrepreneurial success
through the fair use and cost of utilities, such as electricity and internet, and access to public
infrastructures such as transportation and roads. While having access to debt-free capital is
a matter of financial inclusion, whereby users can have access to capital that is not bound by
exploitive forces, the financial inclusion of debt-free capital allows for long-term risk taking over
that of short-term cash flow obligations (over that in the case of micro-loans), and thus for users
to engage in scalable longer term entrepreneurial activities. In this respect, the act of countering
corruption by participation in the ‘Social Proof of Work’ network is also an act of financial
inclusiveness through ARCC as an incentive.
Business set-up
The mechanism we are using to lower corruption is through the decentralized approach
in establishing the ‘Social Proof of Work’ network, while ARCC, as the cryptocurrency
The increased wealth of 40 richest Filipino
incentive for the network, is both financially inclusive and debt-free future capital. It is
families was equivalent in value to a
expected that if ARCC’s adoption and usage for entrepreneurial investment contribute
staggering 76.5 percent of the country’s
to real productivity, this will ensure ARCC’s long-term viability as a reserve currency for
the region. But for this model to work, ARCC must be structured for sufficient short, mid 76.5% overall increase in GDP at the time
and long-term value. Thus, while the main initial problem we are solving is corruption
and financial inclusion, we also explore how ARCC is a structure for value as an engine
for this ‘Social Proof of Work’ network. Ultimately, ARCC will have achieved its position
as a regional crypto-reserve currency by having contributed successfully to the actual
increase in productivity of the markets addressed.
2.1 Urban Working Poor: $47.4B

Effects of Corruption and Financial Exclusion In 2012, Forbes Asia announced that the
The ‘urban working poor’ can be defined as those on the fringes of urban commerce
and its supporting legal and commercial infrastructure. Critically, legal representation
$34B collective wealth of the 40 richest Filipino
families grew $13 billion during the 2010-2011
and rights, efficient public transport and pro-rated utilities are completely lacking for this year
group who occupy the urban slums. They are self-employed as drivers, trash gatherers 2010 2011
and street side vendors1. Yet, the scope of the urban working poor could also be
expanded to the educated youth who find that they have no real means to enter into the
stability of a middle-income class. Thus, they may move out of the visible slums of their +13%
parents, but they will have little hope of progressing out of their low-income housing
and the very concrete ceiling of their socio-economic situation. The current economic
system in these corrupt emerging markets presents insurmountable barriers with no
obvious solutions.
Source: Forbes Asia

A centralized system, by its own structure, is simply unable to be financially inclusive
without the deliberate act of the visible hand of the government or authority. This
is a major problem in a corrupt emerging market context. In a stable, transparent
centralized economic system, the government can reallocate taxes and build efficient
In the case of corrupt emerging markets, there are two exploitive dynamics which are
shared infrastructure that benefits most of the population. We call this ‘welfare
simultaneously occurring: (i) the wages from labor are extremely low with no social security net,
capitalism’ and while no one would say it is ideal, the system generally works in a
and (ii) there is no incentive for the economic elite of corrupt emerging markets to ever change
developed country.
the status quo as they control most of the production, distribution, and commercial channels.
What this means, in real terms, is that the urban working poor in emerging markets are never in
a position to acquire assets or the opportunity to take on a sustainable growing level of income
that is sufficient enough to help them break out of their socio-economic conditions.
1
https://www.youtube.com/watch?v=3dBT_qa09AQ Inclusive Cities for the Urban Working Poor –
Seminar by Martha Chen, is a concise and insightful overview as to the conditions of the urban working poor.
Business set-up
In 2012, Forbes Asia announced that the collective wealth of the 40 richest Filipino families While under the current Philippines president, President Rodrigo Duterte, much
grew $13 billion during the 2010-2011 year, to $47.4 billion--an increase of 37.9 per cent. reform is underway, such as the increased activity and effectiveness of the Philippines
Filipino economist Cielito Habito calculated that the increased wealth of those families was Competition Commission.3 Within the Philippines the socio-economic status quo has
equivalent in value to a staggering 76.5 percent of the country’s overall increase in GDP at existed for decades; therefore, it will take a significant event to make a shift. This
the time. This income disparity was far and away the highest in Asia: Habito found that is essentially the same structure in all corrupt emerging markets. This results in an
the income of Thailand’s 40 richest families increased by only 25 percent of the national extremely immediate short-term outlook which causes the urban working poor to spend
income growth during that period, while that ratio was even lower in Malaysia and Japan, what little they have on commercial escapism (i.e. watching movies or buying a brand
at 3.7 percent and 2.8 percent, respectively. (And although critics have pointed out that name shirt) instead of saving. As such, they are completely cut off from any reasonable
the remarkable wealth increase of the Philippines’ so-called ‘.01 percent’ is partially due means of holding onto any assets for collateral. It is a very deceptive system where it is
to the performance of the Filipino stock market, the growth of the Philippine Composite easy to place the blame on individuals who do not save or do not take on micro loans
Index during that period would not account for such a dramatic disparity from neighboring to engage the existing system. But without health and social support, there are always
countries.) Even relative to its regional neighbors, the Philippines’ income inequality and major costs that wipe out any long-term saving, and while basic services seem cheap
unbalanced concentrations of wealth are extreme. on an absolute scale – on a relative cost per service calculation, they can be considered
some of the highest fees in the world.4 For the urban working poor, this leaves them
Meanwhile, overall national poverty statistics remain bleak: 32 percent of children under with little access to acquire or save for long-term assets. Thus, the incentive is simply to
age five suffer from moderate to severe stunting due to malnutrition, according to UNICEF, survive or work abroad and be split away from their family for years on end.
and roughly 60 percent of Filipinos die without ever having seen a healthcare professional.
In 2009, annual reports found that 26.5 percent of Filipinos lived on less than $1 a day – a 2.2 Radical Social Transparency:
poverty rate that was roughly the same level as Haiti’s. And a new report from the National Social Proof of Work in addressing systemic corruption
Statistical Coordination Board for the first half of 2012 found no statistical improvement Corruption goes unidentified because it is a systemic issue and targeting those with the
in national poverty levels since 2006. Even as construction cranes top Manila skyscrapers least amount of representation by the centralized system. Types of corruption can be
and the emerging beach town of El Nido unveils plans for its newest five-star resort, tens of as straight forward as being extorted by an authority figure at a traffic check point or it
millions of Filipinos continue to live in poverty. And according to Louie Montemar, a political can be decades old transportation networks that are overcrowded and barely functional.
science professor at Manila’s De La Salle University, little is being done to destabilize the It can also be ongoing public works that never get done but are under constant
Philippines’ oligarchical dominance of the elite. construction. The corruption perpetuated by the economic elites include utility cartels
that set electricity prices sky high for minimum usage that target the classes that have
‘There’s some sense to the argument that we’ve never had a real democracy because only no consumer protection. Fundamentally, because corruption occurs at the top of the
a few have controlled economic power,’ he said in an interview with Agence France-Presse. economic engine, there is zero incentive to even publicly acknowledge the corruption,
‘The country dances to the tune of the tiny elite.’ let alone do anything to change it. Corruption is common knowledge, but it treated as if
it exists independently and is inconsequential to all the economic development issues.
Many observers blame the inequality on widespread corruption in local government, which Systemic corruption requires a collective, open, verified and transparent account as a
makes it difficult or impossible for many Filipinos to launch small businesses. (In 2012, counter force to clearly identify this corruption as a first step.
Transparency International, a non-governmental organization which monitors and reports
a comparative listing of corruption worldwide, gave the Philippines a rank of 105 out of 176,
tied with Mali and Algeria, among others.) Low levels of investment also suppress business
growth: the Philippines’ investment-to-GDP ratio currently stands at 19.7 percent. By
comparison, the investment rate is 33 percent in Indonesia, 27 percent in Thailand and 24 2
https://www.theatlantic.com/international/archive/2013/05/the-grim-reality-behind-the-philippines-economic-growth/275597/
percent in Malaysia .
2 3
https://en.wikipedia.org/wiki/Philippine_Competition_Commission
4
Facts and details of this situation are presented in-depth in the Southeast Asia regional case study in part 3 of this paper.
economic Crypto-Reserve ARCC social proof of Business set-up
development Currency Use Case work
2.3 Financial Inclusion: ARCC as a cryptocurrency

The best feature of cryptocurrencies is its ability to provide distributed financial inclusion.
In this respect, emerging markets have the most to benefit from cryptocurrencies. New
32% 60% technologies introduced to emerging markets, such as mobile telecommunication, can
have a greater impact and scope of application than in developed countries. The barriers to
of children under age five suffer from percent of Filipinos die technological adoption are dependent upon sufficient infrastructure and capital. In the case
moderate to severe stunting due to without ever having seen of cryptocurrencies, the minimum requirements come down to access to the internet and a
malnutrition, according to UNICEF, and a healthcare professional. low-cost mobile smart device.
roughly 60 percent of Filipinos die without
ever having seen a healthcare professional. Financial inclusion must be at a scope where it can cover an entire socio-economic class.
The bar is set high because financial inclusion, in this paper, is identified as a structural
issue. The approach then must be the establishment of a new structure to allow for
Source: UNICEF financial inclusion rather than a resolution or compromise with the existing system.5 In this
case, ARCC is focused on the financial inclusion and participation of the urban working poor
in emerging markets.
What is required is a level of social ‘Radical Transparency’ which is able to identity,
aggregate the seemingly random instances of corruption and inefficiencies and present
As a socio-economic class in emerging markets, the urban working poor represent between
it in a public, visible and validated record for exposure and resolution. By first exposing
30%-50% of the urban population.6 In the case of an urban class, any changes to their
these ‘circles of corruption’ and clearly identifying the scope of the exploitation, specific
socio-economic status would have a significant impact on general development (as urban
issues of corruption can be made into a tangible priority. All corruption hides in the
economic progress is usually a major driver of development in an emerging market as a
shadows of centralized power-based relationships and implicit agreement of unknown
whole). As an example, the top ten cities in Southeast Asia have populations of over 80
scope of scale also by hiding the bad actors involved. But in exposing the scope and
million and 30% would represent an inclusive scope of 24 million urban working poor.
scale of corruption with undeniable quantified and validated socio-economic data,
corruption moves out from being an untouchable hidden act by the economic elite to
For ARCC, as a cryptocurrency, the mass digital distributed distribution can occur at viral
a checklist of identified loopholes, ongoing fraud and inefficiency which can be openly
speeds, ensuring that the scope of the inclusion is comprehensive. The urban working
recognized and prioritized by the government. This type of exposure and empowerment
poor have access to mobile and Wi-Fi internet as well as low cost ~$100 smartphones.
cannot be discredited as a false agenda set by foreign NGOs, media or activist groups
To place this in context, a smartphone would be the equivalent in socio-economic status
looking to create public political turmoil but will be recognized as the empowered
to a middle-class family’s car. For Southeast Asia, mobile internet growth, in the report
unified voice of the people who are now able to articulate the scale and scope of
‘e-Conomy SEA Spotlight 2017’ (a joint paper by Google and Temasek) states:
this exploitation with validated public data as their foundation. As such, for this to be
effective, it must mobilize a bottom-up approach by empowering the urban working
poor. Fast forward to 2017, Southeast Asia’s internet user base continues to grow rapidly. There will
be 330M monthly active internet users by year-end 2017, adding over 70 million new users since
2015 at 13% CAGR. In Southeast Asia, mobile is the internet, as more than 90% of Southeast Asia’s
In exposing corruption, governments would now have a clear mandate by the
internet users are on smartphones. It is hard to overestimate the absolute prominence of mobile
decentralized but unified urban working poor rather than be beholden to only the as the access point and driver of Southeast Asia’s internet economy. Users in Southeast Asia are
shadowy economic pressure of the corrupt economic elites for political capital. The incredibly engaged, spending an average of 3.6 hours per day on mobile internet, more than in any
result of reducing corruption would not only increase investor and market confidence, other region in the world.7
but it would set a clear transparent agenda for public infrastructure development
and fair market pricing. This ultimately would result in an environment that fosters
entrepreneurship and distributed market growth. This proposed economic system of a 5
aken as the latter, then financial inclusion simply becomes ‘more financially inclusive’ and treats the issue as not systemic and structural,
T
radically transparent entrepreneurial environment backed by a financially decentralized but as a policy issue that needs to be changed in the current system.
6
http://www.iprcc.org/Index/down/id/3944.html ‘Urbanization and Urban Poverty in Southeast Asia’, The International Poverty Reduction
inclusive economic network would bring actual progress, leading nations out of poverty Center in China, Figure 11, page 18.
and ‘emerging market’ status. We have named this the ‘Social Proof of Work’ network. 7
http://storage.googleapis.com/201712/e-conomy-sea-spotlight-2017-unprecedented-growth-southeast-asia-50-billion-internet-economy/ 6
APAC-Google-Temasek-2017-spotlight.pdf Page 3.
Business set-up
Figure 2: Effects of corruption on productivity over time for capital

Cryptocurrencies are financially inclusive because they do not need to rely on
centralized channels for their distribution or acquisition. Additionally, cryptocurrencies
do not have any prerequisites for authorization in holding or storing the cryptocurrency.
l
Current fintech attempts at financial inclusion that include micro loans, banking ita
the unbanked, or reducing the friction and lowering transactional costs of oversea c ap
to
remittance, do not change the exploitive system; on the contrary, they extend its scope. 8
ity
tiv
Level of productivity
DECREASES TO PRODUCTIVITY c
In practical terms, for emerging markets, the decentralized nature of cryptocurrencies
du
has the ability to put capital directly into the hands of the individuals through a direct
Inefficient transportation system
P ro
Takes longer to do tasks
e ar
bottom-up approach which is not constrained in any way by the exploitive channels of Cash-based physical security concerns
Extra time to secure funds
Lin
the economic elite. This is very clearly seen in how cryptocurrencies have been adopted
No access to gaining licensing or legal recognition
in currency crisis situations,9 where a country’s mismanagement of their national Daily negotiation or navigation of rights to do business
EXPLOITIVE COSTS TO PRODUCTION
finances and their continued restrictions have negatively impacted the basic living
Expensive utilities like internet and electricity
standards of their citizens. Exploitive overhead costs
Extortion by authorities
Risk of losing a full day’s revenue
Yet, this is not enough, as the decentralized distributed acquisition may give short-term
No medical insurance
liquidity relief, or it may even may make them eligible for the ‘banking system’. Yet, this Sickness results in disproportionate financial burden
does not necessary translate into greater national productivity or fiscal stability. We see
this with nations that have high rates of foreign remittance and yet with no effect on
the quality of life for the urban working poor. In linking the incentive structure for the
SYSTEMIC CORRUPTION PRODUCTIVE CURVE
acquisition of ARCC to the act of creating a radically transparent society, we can expose
low level local corruption and high level corporate corruption that can be dealt with by
governments that begin to acknowledge the collective contribution of an empowered Time
urban working poor. The combination of this maximizes the social impact ARCC would
have in an environment without corruption or inefficiencies. Ultimately, the act of INABILITY TO MAXIMISE CAPITAL EFFECT
economic development is a contribution to productivity, and financial inclusiveness
also extends to productivity, so that the financially included contribute to that gain in
Low investor Majority of
productivity. Longer time to
capital going to
confidence accomplish task
overhead
8
This is in the context of exploitive corrupt emerging markets.
9
https://www.bloomberg.com/news/articles/2017-11-17/bitcoin-emerges-as-crisis-currency-in-hotspots-such-as-zimbabwe
Business set-up
Figure 3: Social Proof of Work

3. Social Proof of
Work Network in Application
8. ARCC as ‘micro asset’ can
now be deployed in an efficient
The act of mining is the first entry point for the acquisition of bitcoins and for many transparent environment
1. Users upload 2. Users can of entrepreneurship for the
cryptocurrencies that use the proof of work mechanism. Applied to a decentralized
utility data and identify locational maximum capital social impact.
economic structure, ‘Social Proof of Work’ seeks to use the act of mining to create a earn ARCC points of corruption
socio-economic network of radical social transparency. In the case of crypto mining, earning ARCC
users invest in hardware, internet access and electricity. Due to the constraint of
investment capital for mining or trading, the access to cryptocurrencies is limited. In
the case of ‘Social Proof of Work’ mining, users are prompted to invest their time and
experiences to complete socio-economic surveys to create a map of the true socio-
economic conditions in major urban centers.
The ‘Social Proof of Work’ mining is done via a mobile app which prompts the user 7. Governments have a chance to
directly address these types of
to fill out surveys that cover a gamut of areas that normally would not be recorded corruption by creating supporting
or reported. This would include basic data, such as the time it took for their work infrastructure and fair pricing
commute, instances of overcapacity in public transportation, safety issues, ongoing
construction, length of time to gain licenses, electricity bills and even instances of
outright extortion from local authorities. The surveys would be a mix of location-based
prompts where users can report the instances at the exact location, data uploading
of utility bills and traditional surveys. The aggregated sum of these socio-economic + =
surveys creates ‘circles of inefficiencies’ which are caused by either incompetent
mismanagement or outright corruption and exploitation of the vulnerable class. These
surveys can also be validated through the same mobile app by different users who are 3. Data is aggregated 4. Circles of 5. Data & reporting 6. These circles of
and true cost per inefficiencies are create a true account inefficiencies are
prompted to confirm these reports as they pass by, i.e. location-based prompts or a usage is generated, of the level of resolved through public
created; other users
sanity check on certain survey results. showing the true cost are prompted to corruption and are media awareness
of cartel rent seeking validate or update publicly exposed and
pricing the findings and verified, i.e. radical
As a product comparison, this would be the Waze/Google Check-in App of anti- earning ARCC social transparency
corruption. In that instead of just tracking traffic, accidents and bad service, the ARCC
Anti-Corruption App would track all types and instances of corruption, which is then
validated by other users when they are at or check-into the same locations. This is
then represented visually on a map and prompts or pushes notifications to users for
validation or awareness. This App further aggregates and records the data in terms
of how long these issues have been problems as well as the scope of the problem
throughout the city. Uploaded data would be aggregated to provide daily comparisons
to international rates and show the true per capita costing rather than hiding behind
micro pricing.
Business set-up
As a decentralized cryptocurrency, any ARCC earned on the ‘Social Proof of Work’

As users report, validate or complete surveys, they would be automatically issued an
network will be able to either opt-in to this collective asset management endeavors or
amount of ARCC directly to their online wallet account. The amount of ARCC issued
withdraw their ARCC to a secondary exchange market. But only ARCC earned by ‘Social
would be done via an ARCC mining algorithm and the amount of ARCC mined would
Proof of Work’ will be eligible to engage in the ARCC ‘micro asset’ management network.
also follow different levels of difficulty dependent upon the ARCC pool remaining for the
Users will not be able buy ARCC from the secondary market and deposit it into the
region, the type of survey completed, and the frequency and volume of surveys done
‘Social Proof of Work’ network. Ultimately, this system is for the economic development
within the region. There would be a 3-year scheduled vesting period on all ARCC earned
of the region and empowerment of urban working poor and is not designed for instant
through the network. The reasons for this is are because ARCC is designed as a ‘store of
free cash for individuals. As such, all ARCC earned through Social Proof of Work will be
value’ for future entrepreneurial investment. Any ARCC vested will be completely under
held in a 3-year tiered vesting schedule before it can be fully withdrawn to a secondary
the authority of the user to withdraw or continue to use in the Social Proof of Work
exchange market. But, if users so choose, all ARCC earned in the network will be made
network.
immediately available to be used in the ‘micro asset’ management platform. Once ARCC
is fully vested, the user will have absolute control of their own ARCC, provided they
The application and ramifications of this decentralized social radical transparency
withdraw it to their own Ethereum based wallet.
network can be used as a stark comparison to the opaque claims of cartel type
corporations of price fairness as well as reporting by private media owned by the
economic elite that cover up their own exploitive practices. More than just a survey of
opinions, ‘Social Proof of Work’ can provide a real time and detailed account of the true
socio-economic status contrary to systematic attempts to spin the truth. This, in turn,
Figure 4: Arcc micro asset network value creation circle
will add to the competitiveness, productivity and optimism for individuals. Additionally,
policymakers can target areas for development with these validated socio-economic
trends. The end result will be the empowerment of the urban working poor who can 2. Only ARCC mined on the network
now participate in the economy as ‘micro entrepreneurs’ with their ‘micro assets’ can be qualified to be used for the
asset network services
without being the target of mass exploitive micro transactions.
3.1 Social Proof of Work Network as

a Micro-Asset Management Network
The last objective of the ‘Social Proof of Work’ network is to provide micro asset’
management services within the platform for users who have earned their ARCC through
the network. These users who have earned their ARCC will have the option to lock in
the freely earned ARCC into the ‘micro asset’ management network. The collective
1. Users mine 3. Asset network
funds will be used to provide group negotiated rates in health and property insurance as ARCC on the asset services
well as provide users with the option to jointly invest in regional projects that ARCC has network through
‘social proof of
already invested in (as part of the currency reserve structure). This will open this class Locked in
work’
ARCC balance
of users to private equity investments which they would never get access to and with for insurance
limited risk, as ARCC would guarantee their ARCC principle. By establishing this ‘micro
asset’ management network, ARCC would be able to collectively bargain on the user’s
Co-investing
behalf for any number of basic social security type of services. By mobilizing ARCC in
in ARCC
this way, we provide ARCC an ability to act as a ‘micro asset’, as is, beyond its secondary underlying
market gains and earn additional equity beyond its cash value. investment
As the network grows, the
projects
value of ARCC will benefit from
network effects thus increasing
the base capital for the asset
management services
Business set-up
3.2 Social Proof of Work Outcome on Productivity

No matter how ‘good’ an asset or business may be, it cannot survive or produce in
4. ARCC as the Incentive
an environment of corruption, incompetence and a lack of supporting infrastructure.
The level of ‘investor confidence’ is what dictates the risk appetite and the level of
for the Social Proof of Work Network
sustained investment for the long term. ‘Social Proof of Work’ and its resulting radical
transparency completes a new ‘micro economic system’ which focuses on the ‘micro
entrepreneur’. The ‘micro entrepreneur’ may be ‘micro’ in terms of the individual Users are incentivized to participate in this decentralized socio-economic reporting
capital held or the scope of their business but can leverage the network they are a network by being issued ARCC, the Asia Reserve Currency Coin, for each act of
part of in creating a collective force. In this landscape of defining people by their participation. Users are essentially ‘mining’ ARCC by providing the ‘Social Proof of Work’
socio-economic status, it is overlooked that they are a single life capable of having an (i.e. filling in the socio-economic surveys). This act of ‘Social Proof of Work’ mining has
equal and limitless potential if given the right environment and tools. There is no real two functions of being (i), an incentive for the integrity of the network’s relevance in
reason why every emerging market cannot be a developed market. If each of these terms of quality, significance, scope and depth of data and (ii), as the object of inclusive
individuals were to study abroad or immigrate to a developed nation, they would be debt-free capital access. As a network incentive, ARCC needs to have some type of
just as productive, if not more so, than those who were born and raised there. value, but as a basis for long-term capital acquisition for the user, it needs to have clear
value proposition. This creates a virtuous circle that if ARCC has a clear long-term value
The function of this radical social transparency and this ‘micro-asset network’ creates proposition, then it will also act as a strong incentive for participation in the network,
a community that is linked by its voice and direction in creating real life progress which in turn, strengthens the conditions for ARCC’s value proposition (i.e. via the effects
as ‘micro entrepreneurs’. The possibilities are endless for a socio-economic based of increased adoption).
network that could span an entire region where by people are connected by a new
blockchain identity and empowered by an asset that they can work with. As a ‘micro IBMR.io will issue ARCC as an ERC20 token, but ARCC will derive its monetary value
entrepreneur network’ a real commitment can be made in educational and business proposition as a stablecoin regional ‘crypto-reserve currency’. Most stablecoins are
projects with each member really putting their ‘skin in the game’. This creates a being pegged to a respective fiat currency’s value. The current main utility and adoption
network of accountability, commitment and efficiency. of stablecoins revolves around its targeted usage in trading pairs on crypto-to-crypto
exchanges. Whereas, with ARCC, the utility is that as an incentive towards the anti-
fragility of the Social Proof of Work network’s own existence and integrity. ARCC’s
future utility is its mass adoption as a ‘store of value’ that can be mobilized for future
entrepreneurial capital investment and business development beyond secondary
exchanges. As such, ARCC will instead have a monetary policy mandate to steadily
maintain a moderate positive price trajectory in real value on secondary exchange
markets, over that of a currency peg. This is accomplished by having a sovereign
wealth fund structure for value creation which is dependent upon a currency reserve
structure with a direct inflow of funds from regional investments and mass adoption for
productivity.
4.1 ARCC Value Proposition as a Stablecoin

Crypto-Reserve Currency
As the goal is economic development through decentralized financial inclusion, each
participant will only be incentivized to acquire ARCC if ARCC can reasonably show it will
meet the expectation of being a significant long-term asset. As such, we have structured
ARCC as a stablecoin ‘crypto-reserve currency’ and a ‘micro asset’. As a ‘crypto-reserve
Business set-up
currency’, ARCC would be positioned as a ‘store of value’ which acts as an additional

foreign currency hedge of sorts. In emerging markets, individuals understand the
stability and ‘hedging’ characteristics of foreign currency in light of the volatility of
their own national fiat currency. For example, the US dollar is the world’s primary
foreign reserve currency for governments and individuals alike. Certain emerging
markets, such as Cambodia, use the US dollar as their primary commercial currency
for any transaction over $1. This is accomplished by first structuring ARCC’s base value
through a traditional national foreign currency reserve mechanism.
A ‘foreign currency reserve’ is essentially a ‘basket of reserve currencies’, other than

their own, used to manage the price of their own domestic currency in relation to
other currencies. It does this by holding a ‘reserve’ of stable fiat currencies, such as
the USD, EURO and YEN (the top three held by most foreign reserves). The nations
with the most foreign reserves are usually export economies like South Korea, Japan,
Taiwan and China to protect their own domestic currency in case of an international
currency attack. In the case of a currency attack to devalue their domestic currency,
nations can use their foreign currency reserves to defend their domestic currency
by buying back their domestic currency with the foreign currency. In this case, as
their own domestic currency may depreciate, one of their reserve currencies may
appreciate, and thus be used to defend their own domestic currency. For example,
as export economies, China and South Korea have approximately 3125 billion and
396 billion,10 respectively, in equivalent USD for their foreign currency reserves,while
reserves as a long-term deterrent against even the threat of an attack. The size of the
the USA has only 125 billion in their own foreign currency reserves (as they are
currency reserve acts as a deterrent for currency speculations, but as soon as a country
considered the main global reserve currency) and Venezuela had less than 10 billion
starts to draw upon the currency reserve, then would-be attackers can start to gain
USD equivalent as of March 2018, and with it, an extremely devalued unprotected
information on risk profile of the currency reserve management. As the currency reserve
currency. A foreign currency reserve can then interact with the market to either buy
is used to defend the attack on the valuation, the total value of the currency reserve
or sell its foreign currency to manage their national fiat currency’s value, according to
reduces as well, thus inviting more opportunity from others to attack. Foreign currency
the national fiscal policy. Yet, simply having a foreign currency reserve is insufficient
reserves that get depleted in defending their currency or being used for balance of
for the task of managing a state’s fiscal policy. Part of the equation, which is missing
payment transactions (payment of debt in foreign currency) ultimately can completely
with other stablecoin considerations, is that the main point of consideration is not
lose their defensive functionality in preventing attacks. In the case of Venezuela, a
just how to manage trades between the reserve and the market, but rather, a stronger
reduction of their foreign reserves from 43B USD in January 200912 to 9.5B USD in March
consideration is how is the foreign currency reserve funded.
2018 was due to an economic collapse, but at the heart of the collapse was the fact that
the majority of their foreign reserves were from international oil sales.13 When there was
The massive increases in foreign currency reserves in Asia were brought about from
global economic downturn and significantly lower oil prices, coupled with questionable
the Asia Currency Crisis of 1997. This case is discussed more in detail in part 2, but
national economic management, Venezuela was forced to use their foreign reserves for
ever since that period, most East Asian countries have been constantly funding their
some type of financial defense. But at under 10B, their reserve is considered powerless.
currency reserves.11 Generally, nations will continue to directly fund their foreign
The benefits to spend it further down is meaningless as it would serve no strategic
10
https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves 12
https://www.ft.com/content/33efd9ce-625c-11e7-91a7-502f7ee26895
11
https://www.reuters.com/article/us-asia-economy-reserves/south-east-asia-economic-woes-test-reserves-defenses-built-after-1997-98- 13
ttps://en.wikipedia.org/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela
h
crisis-idUSKCN0S00BB20151006
Business set-up
Figure 5: Currency reserve capital flow
purpose. The point is not only that their reserve is at 10B how it got depleted, but also
to recognize that the inflow to the currency reserve matters significantly as well. 1
Foreign Capital Iniection
To use a very simple tournament poker analogy, your stack matters. In tournament
poker, once you lose your chips, you are out. But in Texas Hold’em All-In poker,
losing all of your chips can occur in a single hand. Having a stack of chips relative to 2
2. Capital
Capital Injection
Iniection
others at your table gives you a significant advantage as none of the smaller stacks
will try to go heads-up with you as they could lose their entire stack and be out of
the tournament. Thus because of the size of your stack, you are generally free to 3
ARCC Currency Reserve
pick and choose your spots in how you acquire more chips and add to your stack.
=
As long as the winning of additional chips keeps your stack relatively 50%-100% Foreign Currency + ARCC
bigger than anyone else on the table, the strategy is generally straightforward in
maintaining your lead. By this analogy, as long as there is a strong inflow of funds to
the currency reserve, and the currency reserve constantly accumulates value, then +
the actual trading mechanism to the market is the most straightforward part to this
process. Any time that a currency reserve engages the market to defend rather than
to maintain a policy there is a risk of defending all the way to zero.14
This model of considering the inflow to the fund is an offshoot of a ‘Sovereign Wealth
Fund’ structure.15 A sovereign wealth fund like that of Singapore’s Tamasek16 can
4. 6.
Reserve sells Reserve sells
initially draw upon the additional cash liquidity of the foreign currency reserve and its foreign currency ARCC
investments can be used as inflow directly back to the foreign currency reserve or to to the market to the market
the government directly. In the same way, ARCC will have a currency reserve structure
that transacts with the market and also have a focus to continually increase its own
currency reserve holdings through regional investments. This structure is necessary
as ARCC has a monetary policy mandate that will look to growth over that of currency
peg for the value of ARCC. Thus, the base value of ARCC may be its cash liquid
assets held in the Currency Reserve, but its alignment and fund inflow from regional
investments will provide a possible fractional valuation range.
Arcc
market
14
o briefly continue with the poker analogy, at a certain point where your stack is 8-10 times the size of the minimum bet (big blind), then
T
price
your ‘short stack’ has nearly zero value as a means for deterrence and in fact is a signal of vulnerability. In a non-tournament situation,
the best play would be to gamble it and hope to double up or bust out and rebuy back in. But in a tournament situation, survival is 7
sometimes an option as well, but your opinions now are simply to wait for good cards or hope someone busts out before you so you get 5 Gains foreign currency
in the money. In the same way, a tiny foreign reserve only serves now as a last indicator of hard currency to at least give some valuation Gains ARCC driving ARCC price
to the national currency, which may seem pathetic, but it 100% better than zero. driving arcc price downwards
15
https://en.wikipedia.org/wiki/Sovereign_wealth_fund upwards
16
https://en.wikipedia.org/wiki/Temasek_Holdings
Business set-up
Figure 6: Arcc currency

Currency reserve
reserve inflow
inflow structure
structure
4.2 ARCC Currency Reserve Structure
(i) ARCC CURRENCY

ARCC’s Currency Reserve will be directly funded by the token raise and by an inflow of funds
RESERVE
from investing in regional infrastructure and industry projects. Ninety per cent of the token
raise will go to seeding this structure (50% to the reserve and 50% to the investments) and 80% BUYS ARCC WITH CURRENCY
OR SELLS ARCC TO THE MARKET
of the profit from the regional infrastructure and industry projects will be the inflow of funding
to the reserve. No outflow of funds, other than to carry out the monetary policy mandate, will
MARKET PRICE
ever be taken out of the ARCC currency reserve.
The ARCC Currency Reserve has three structural components: (i) the currency reserve, (ii)
currency reserve inflow funding mechanism and (iii) underlying regional investments. The ARCC
ARCC HOLDINGS FIAT HOLDINGS CRYPTO HOLDINGS
currency reserve interacts directly with the exchange market to buy and sell ARCC for the
purpose of maintaining a stable growth trajectory. This means that the ARCC Currency Reserve
will have its own ‘monetary policy mandate’ of what dictates a ‘stable growth trajectory’ for
ARCC and will be professionally traded on a daily basis. The ARCC Currency Reserve’s funds will (ii)INFLOW FUNDING MECHANISM:
also be managed by professional asset managers with the purpose of growing the non-traded DIRECT CASH INJECTION
funds (i.e. the amount of funds not in daily use for maintaining the monetary policy).
The inflow of funds to the ARCC Currency Reserve occurs by:

(i) The seeding of the ARCC Currency Reserve (45% of the initial token raise),
(ii) The professional asset management to manage the excess liquidity of the currency 45% 40% 40% 100%
reserve with 100% of net return as inflow,

(iii) 40% of the profits from regional investments being done by ARCC, and,
TOKEN RAISE AS OF PROFITS FROM OF PROFITS FROM PROFIT OF ARCC
(iv) 40% of the profits from other incomes (as derived from the Social Proof of Work
INITIAL SEED UNDERLYING ASSETS OTHER INCOMES CURRENCY RESERVE ASSET
network if any).
MANAGEMENT
As such, there is no profit outflow from the ARCC Currency Reserve. Its only function is to
continue to grow in foreign currency (both fiat and crypto holdings) and manage a long-term (iii)UNDERLYING ASSETS: REGIONAL
objective ‘stable trajectory of growth’. Additionally, the underlying investments of ARCC will be INFRASTRUCTURE INVESTMENTS & REGIONAL INDUSTRY
held as assets under the ARCC Currency Reserve and will create an inflow of funds directly for
the ARCC Currency Reserve. Forty per cent of the profit from the underlying investments will
be directly contributed to the ARCC Currency Reserve. The type of the underlying investments GETLINKS.CO: HIGH-TECH START-UP HR MACHINE ICX: INDO-CHINA EXPRESS SUBMARINE 16 TB PRIVATE
will be regional infrastructure and regional industry investments. LEARNING COMPANY FOR SOUTHEAST ASIA CABLE LINE
-HONG KONG & SINGAPORE TERMINATION POINTS

As 90% of the value of the token raised will be allocated 50%/50% to seed this structure, the -ESTABLISHED 2015, HQ IN BANGKOK, OFFICES IN HONG KONG,
-BRANCHING PHILIPPINES, MALAYSIA, SINGAPORE, CAMBODIA,
VIETNAM & SINGAPORE.
value of ARCC initially will be entirely determined by the raise. This is an inverse risk structure VIETNAM & MYANMAR.
-MISSION: TO CONNECT HIGH-TECH HR, SET UP FOUNDATION
unlike most raises; the more the token raise is, the less risk is taken on, as funds directly FOR ASIA’S SILICON VALLEY -MISSION: TO PROVIDE THE FASTEST LOW-COST INTERNET
NETWORK TO SOUTHEAST ASIA
contribute to the increase of scope and scale of the currency reserve and the underlying -INVESTED BY ALIBABA AND SEEK.COM (LARGEST HR ONLINE
-PROJECT SIGNED WITH NOKIA ALCATEL 2017
COMPANY GLOBALLY)
assets. -ARCC 120M USD ALLOTMENT FOR INVESTMENT FOR 850M
-ARCC ALREADY HAS 50,000 USD INVESTED, ROUND 2
USD PROJECT
ALLOTMENT UP TO 10M FOR INVESTMENT
26 www.ibmr.io www.ibmr.io
Whitepaper
4.3 ARCC Value Proposition as a Regional Reserve Currency

ARCC’s long-term objective is to establish itself as the regional crypto-reserve
currency of Southeast Asia, i.e. the EURO equivalent of Southeast Asia. This is
accomplished through ARCC value alignment in regional investment infrastructure
and industry. In 2018, the innovations in cryptocurrency and blockchain technology
have mainly centered around applications involving crypto-trading, tokenization of
assets and reducing the number of layers within financial transactions. Many of these
newly minted alt-coins, as an afterthought, have simply assumed themselves to be a
currency with their objective completed when they manage to list on a major crypto-
exchange, and nearly all have fallen short of the absolute incredible achievement
represented in Bitcoin.
The value proposition of Bitcoin is that it is the first tangible existing and thriving
proof-of-concept of a decentralized ‘store of value’. The current controversies
have focused on ‘how much value does bitcoin truly represent’, but what people
have forgotten is that at its inception, the controversy was focused on whether
or not bitcoin had any value at all. Whatever the underlying value is (from either
a decentralized perspective of ownership or a centralized perspective as a
hedge against the centralized market), the fact is that bitcoin exhibits the same
characteristic of a true currency in that Bitcoin’s increasing in supply is not a factor
for devaluation. This is the major point of differentiation for Bitcoin in comparison
to the other alt-coins and a major point of affinity in relation to other types of
established national currencies, fiat, gold or otherwise. By this criterion, nearly all policies in place promoting regional integration such as an ASEAN member no-visa
alt-coins are essentially a form of equity securities as their value would be crushed requirement and outlining future milestones for integration. Thus, deliberate regional
with unexpected increases of coin supply. And while Bitcoin has a total supply limit, investments in infrastructure and industry that align with that regional growth would
the additional realized minting of new bitcoin into circulation is not a negative factor in also align ARCC’s value to the competitiveness of the region.
its current valuation and pricing. ARCC is a pure currency play like Bitcoin. Yet unlike
Bitcoin, the value is not found in its decentralized structure (that value solely belongs As ARCC’s Social Proof of Work network decreases local corruption and increases
to bitcoin) and being the crypto-reserve currency of all other cryptocurrencies, rather investor confidence, this should, in turn, increase foreign direct investment in an
ARCC’s value proposition as a reserve currency lies with its long-term alignment with already growing region. At which point, ARCC’s value will be backed not only by its
regional market growth. own foreign reserve, but also by a foreign reserve with cash inflow and investment
confidence from its underlying investments that are aligned to the region’s
Specifically, Southeast Asia seen as a regional market has experienced 66% growth productivity and competitiveness. This is what singularly differentiates and defines all
in the last 10 years. On a regional basis, the market is competitive and continually global reserve currencies: an investor’s confidence to say that this issuer will always
growing. Yet, as emerging markets, individually considered, all these markets (with the be in a position to back the currency’s value. The test of confidence for any currency’s
exception of Singapore) constantly face periods of currency volatility and generally low future value will always be about the competitiveness of the issuer in terms of
international investment confidence. There is a regional framework of cooperation productivity, i.e. real cash output.
in ASEAN (the Association of Southeast Asian Nations), which has a mandate of
increasing economic regional integration. As such, Southeast Asia already has certain To this end, ARCC has already two investment projects that embody this alignment
and support towards regional competitiveness. A 50,000 USD investment has already
Business set-up
such, the risk profile for engaging in such businesses is higher than that of short-term
been made in A round of ‘Getlinks.co’, a high-tech HR firm based in Bangkok, Hong Kong
non-scalable business. Micro loans and the burden of repayment as the main source of
and Manila, focused on HR for start-ups in the Southeast Asia region. The platform is
entrepreneurial capital makes taking such risks prohibitive. IBMR.io believes that ARCC’s
unique as it engages with machine learning to best curate and match start-ups with the
value should be that of real cash and add to the supply of cash and not as credit to the
right type of teams and founders. Getlinks.co received investment in this A round from
end user.
Alibaba (the second largest e-commerce company in the world) and the Seek Group (the
global leader in the online employment market space) and is a cash positive profitable
The term ‘micro asset’ is, in a traditional financial framework, a non-entity and frankly,
operation.
a ridiculous term. An asset at a ‘micro’ level, assumed at $5, $10, $25 or $100 dollars is
insignificant and unable to contribute to a level of production beyond its current cash
ARCC also has up to 100M USD allotment for infrastructure investment into ICX, a
value. Cash as a ‘micro asset’ has little ability to grow in value, while a cash equivalent
1 billion USD private submarine internet cable line project which links nearly every
asset would likely have less value than cash itself. Yet in the cryptocurrency space, the
Southeast Asian nation and with Nokia Alcatel as the confirmed commissioned builder
accumulation of a cryptocurrency can have significant speculative returns on a ‘micro’
of the line. The main trunk of the internet submarine line starts from Hong Kong to
investment. The basis of these returns can be attributed to early adoption and, of
Singapore and will have branches to Vietnam, Philippines, Thailand, Malaysia, Indonesia,
course, any form of speculation. Regardless of the reasons for the volatility in current
Myanmar and its regional hub in Cambodia. The funding round is set to close by the
returns and losses, a cryptocurrency has the capacity for exponential growth due to
end of 2018. This line will be the most advanced, fastest line in Southeast Asia, with two
exposure and unrestricted access to 24-hour global decentralized market and the
lines of over 20Tbits per second with a return on investment project at 4.5 years, but
resulting global network effects.
with a revenue product life of 15 years. With this upgrade, ICX will offer 300-400Gbps
speed utilizing 8-16-QAM technology from Alcatel. Current submarine cables in the
ARCC, in the course of achieving its purpose as an ‘micro asset17’, has a number of
region deploy only 50Gbps—making ICX 6-8X faster. Both these projects are regional and
interesting characteristics inherent as a cryptocurrency:
directly target areas of growth and productivity for the region.
1. It can be distributed at truly micro amounts to the 0.000001 sixth decimal point.18
ARCC would be actively investing in such regional infrastructural and industrial projects.
2. It has a common value and increases or decreases in common value.
Forty-five per cent of the initial token raise would go to seeding these immediate
3. It has no holding fees.
investments. Unlike a pure technology development play, as an economic system play,
4. It can be used as a utility token.
the size of funds creates a firm financial foundation that reduces the project risks. The
sourcing of these projects comes from the depth and experience of the management
The medium of digital distribution allows for ARCC to be fractionally distributed to
team and executive advisors of IBMR.io, who already invest, operate and manage global
maximize the number of recipients at a nominal value that still provides a base for
and regional businesses at this level. Every aspect of ARCC will be professionally
growth. As ARCC is linked to the exchange markets, it has a common market value. As
managed, including the establishment and support of a fulltime crypto-economic think
a decentralized cryptocurrency token, there is no holding or other registration fees. Thus,
tank and advisory arm.
as a ‘micro asset’ there can be the simultaneous acquisition and accumulation of this
entry level asset that is not dependent upon entry into the centralized banking system
with its associated fees.19 The most contributing feature to its value as a ‘micro asset’ is
4.4 ARCC as a Micro Asset
through ARCC’s ability to act as a utility token within the network. The use of ARCC as a
The term ‘Micro assets’ in this context is a clear departure from ‘micro financing’. Banking
utility token will be in the use of a ‘micro asset management network’. This utility token
the unbanked to the current centralized system of exploitation is simply extending
functionality ultimately provides a network effect valuation directly to ARCC.
the influence of the centralized debt cycle. IBMR.io’s policy position is that the urban
working poor need access to unencumbered assets that are sufficient enough capital
for them to use as entrepreneurs for scalable businesses. A scalable business is one
17
ote: Please see Appendix 2 on IBMR.io’s view on why we are not pushing an ‘micro loan’ or p2p lending agenda in our economic
N
that has a business model which is sufficient in depth and scope to generate revenues
development model.
that can be used to break out of their current socio-economic class. Inherent to all 18
As an ERC20 token, it could have been designed to the 16th decimal place, but it for the purposes of being a ‘store of value’, it was limited
scalable businesses is an investment into the long-term outlook of the business. As to only 6 decimal places.
19
The withdrawal and conversion of ARCC to a fiat currency would have transactional fees, but the earning of ARCC would not, discussed
later in the next section regarding ‘Social Proof of Work’.
Whitepaper
5. ARCC Crypto-Reserve Infinity Loop
Network Valuation Proposition
As mentioned previously, the ARCC Micro Asset Network allows for users who hold
balances of ARCC to either: (i) maintain and lock in a minimum balance or (ii) actively The ‘ARCC Crypto-Reserve Infinity Loop Network’ directly addresses the components adoption, growth and
co-invest in the projects that ARCC has already invested in. In the case of maintaining effects on productivity. The amalgamation of the following 4 individual virtuous circles of completes the ‘ARCC
a locked in balance, these funds will be used collectively to provide basic insurance Crypto-Reserve Infinity Loop Network’ value proposition unique to ARCC as a decentralized directed economic
services like health and property. The locked balances will be used as a collective system.
fund for this purpose. For the joint co-investing projects, ARCC will take the risk of the
project and invest first and put aside can be expanded to projects brought forth by
the community. As the size and scope of the network increases this will benefit from CURRENCY
ARCC AS
the network effects on the token valuation of ARCC. A STABLE COIN RESERVE & Figure 7: CURRENCY RESERVE
REGIONAL
1 MARKET
3 (1) Currency reserve structure for ARCC’s current base range
ALIGNMENT
In providing access to a ‘micro asset’ over that of a ‘micro loan’, the urban working
valuation and regionally aligned infrastructure provide the
poor can simply look towards taking entrepreneurial risks to grow, scale and reinvest
basis for the (2) Underlying Asset valuation and fund inflow
into their business without the burden of repayment. In this respect, the innovative
2 amounts, (3) resulting in ARCC’s status as a stablecoin
application and sheer impact of the innovation of cryptocurrencies is most aptly UNDERLYING
ASSETS
displayed here, whereby ARCC can be a ‘micro asset’ because its value is not derived
from a debt/interest model but that as a ‘crypto-reserve currency’, i.e. real cash. This
will be a slow but steady and deliberate process to ensure that ARCC becomes a
(3) SOCIAL PROOF OF (1) ARCC
regional crypto-reserve currency for Southeast Asia. The true social impact is that
Figure 8: STABLECOIN WORK STABLECOIN
if this model holds, then the same can be done for all regional emerging markets & MICRO ASSET
NETWORK 1
such as Africa and Latin America; thus, global financial inclusion and the solving of a (1) ARCC as a Stablecoin, (2) acts as an incentive for the 3
century of global financial inequality is achieved. Social Proof of Work network, (3) establishing the both
the Social Proof of Work Network and the Micro Asset
Management. 2
(2) NETWORK
INCENTIVE
(3) ARCC (1) SOCIAL Figure 9: SOCIAL PROOF OF WORK

‘MICRO ASSET’ PROOF OF
WORK &
1 MICRO ASSET (1) The Social Proof of Work network allows for (2) Radical
3
MANAGEMENT
Social Transparency and increased productivity in creating
NETWORK
an entrepreneurial positive environment for (3) ARCC to be
(2) MICRO
optimally deployed as a micro asset for entrepreneurial
ENTREPRENEURSHIP 2
(RADICAL SOCIAL investment.
TRANSPARENCY)
(3) CURRENCY (1) ARCC

Figure 10: MICRO ASSET RESERVE & ‘MICRO ASSET’
REGIONAL MARKET
ALIGNMENT 3 1
(1) ARCC as ‘Micro Asset’ as a (2) mass adopted
Regional Crypto-Reserve Currency compounds the value
of ARCC (3) as the value of ARCC contribute to the
further growth of the Currency Reserve structure. (2) MASS
2
ADOPTION
32 www.ibmr.io
Business set-up
Figure 11: ARCC crypto-reserve infinity loop network

(4) Network Incentive
As a network incentive, ARCC is able to be mined and accumulated through the
(8) Mass (4) Network Social Proof of Work Network & Micro Asset Management Network.
Adoption Incentive
(3) ARCC Stablecoin (5) Social Proof of Work & Micro Asset Network:
(7) Micro Asset The outcome of Social Proof of Work is both a lowering of corruption and an act of
financial inclusion
(6) ‘Micro Entrepreneurship’ (Radical Transparency):

Users are able to engage in Micro Entrepreneurship and create a use case for ARCC
as being tied to production.
(1) The Currency (5) Social Proof
Reserve & of Work & Micro
Regional Market Asset Network (7) ARCC as a Micro Asset:
Alignment ARCC is established as a Micro Asset which is essentially an established store of
long-term value which would lead to its market wide adoption.
(8) Mass Adoption of ARCC:

As a long-term asset, ARCC would be mass adopted as a regional crypto-reserve
currency as the value and adoption of ARCC would further its Currency Reserve
structure and be more accepted as a form of investments.
(2) Underlying (6) Micro
Assets Entrepreneurship
As we get back to section 8 of the figure leading back into section 1, there is the
(Radical Social
Transparency) continued network effect in this positive infinity loop. As this model and network
becomes established, investor confidence will also rise on a domestic and
international level in relation to the emerging market. International buyers of the
The ARCC Crypto-Reserve Infinity Loop is an aggregation of four virtuous circles of
ARCC token will have an opportunity to seed the initial capital for this network. The
value creating multiple levels of network effects that create the value proposition of
investment contributes to bringing emerging markets to their full developed market
ARCC as an economic system.
potential. On a regional level, the access of real financial inclusion of long-term
asset accumulation will change the lives of tens of millions of people and then may
(1) The Currency Reserve & Regional Market Alignment:
change the lives of hundreds of millions more.
The seeding of this sovereign wealth fund structure provides the base value of ARCC
and the setup of the Underlying Assets.
ARCC in its regional alignment that makes it more than just a ‘stablecoin’ with
underlying assets, but an actual currency aligned to real production. If ARCC
(2) Underlying Assets of the Reserve and Investments:
can contribute directly to market stability and investor confidence, then the
The Underlying Assets and the inflow of funds provide the backing for ARCC to act as a
ramifications on all facets of a region’s economy are limitless and a new economic
Stablecoin in the secondary exchange markets.
super structure is truly born.
(3) ARCC as a ‘Stablecoin’:

ARCC as a Stablecoin in holding value, now acts a sufficient network incentive.
Decentralized Asean Regional Arcc Token enconomy Product development Ibmr.io Attachements
economic Crypto-Reserve Arcc social proof of
Business set-up
6. Concluding Remarks
of Part 1
The specific problem that IBMR.io is solving is one of corruption and financial
instability in failing emerging markets. As such, there is a very deliberate need for
active leadership to work through each step of the issues and as such the scope of
the project period covers the next 25 years. It cannot be overstated how complex and
difficult the problem is. Certain governance issues arise out of the act of repression of
individual rights in developed wealthy nations where centralization impedes on those
rights due to a forced dependence and reliance on third party trust for transactions.
The issues in these emerging markets are on a more visceral level as they do not
even have assets to defend due to the constant state of exploitation. In this emerging
market context, the function of the blockchain is not to reduce the reliance on trust
in the existing system, but rather to create an environment that can allow for basic
socio-economic trust in the first place.
The objective is to create an asset of value (ARCC as a micro-asset & crypto-reserve

currency) that can be freely and equally distributed (financial inclusion) and enable
that environment of trust (reduction of corruption) for the asset to be deployed for
efficient production (entrepreneurship). Ultimately, by empowering the urban working
poor with ‘micro assets’ and a platform to confront corruption, each user becomes
a decentralized node with their own rights and independence. These nodes can be
coordinated and empowered through the Social Proof of Work network but there is no
authority on them of what they do after they are empowered. In this respect,
IBMR.io is building just the social software and tools to empower via this act of
financial inclusion, but not to govern or manage the node users themselves.
Business set-up
02
7. Southeast Asia as
an Emerging Market
In this section, we look at Southeast Asia in a regional economic context of development and
ARCC’s role as a regional crypto-reserve currency in promoting financial stability. The majority
of Southeast Asian nations, by the virtue of being developing economies, suffer from a constant
degree of and threat of market uncertainty from both domestic and international factors. But
seen as a regional market, Southeast Asia (SEA) represents a population of 630 million people,
10 sovereign nations and has exhibited 66% in growth from 2005-2016 making it the 3rd largest
ASEAN regional economy in Asia and the 5th largest in the world.20 This market has been organized under the
political-economic organization of the Association of South East Nations, ASEAN21, founded in
crypto-reserve 1967.
currency use case And yet for the majority of the 10 countries that compose ASEAN , with the exception of
Singapore, this growth has not significantly changed the standards of living for the urban working
poor. Like all nations, established centralized economic institutions progress the interests of the
established economic elite. The difference is that in these countries, the economic elite have
7. Southeast Asia as an Emerging Market 26 nearly one hundred percent control over all the distribution and infrastructure and without a
voice, the people are exploited at a micro transactional level. Basic utilities, like electricity and
internet, are structured for maximum price for minimum service, while infrastructure for public
transportation and roads remain lacking outside capital urban commercial areas.22
The economic elite in these countries easily get away with overcharging and underserving
because the individual’s absolute cost seems insignificant; but relative to the average wage
and services rendered, these basic utilities costs are some of the world’s most expensive.23 In
the case of democratic governments, the election process is greatly influenced and supported
20
https://www.usasean.org/why-asean/asean-economy
21
ssociation of South East Nations including 10 member countries, Philippines, Vietnam, Thailand, Indonesia, Brunei, Myanmar, Malaysia,
A
Singapore, Laos, and Cambodia which is a regional political organization which promotes regional economic, social and cultural dialogue
and initiatives. http://asean.org/
22
https://businessmirror.com.ph/phls-slow-but-expensive-internet-service-4/
http://www.philippinesplus.com/2016/04/09/philippines-5th-highest-cost-electricity-world/
http://www.atimes.com/article/breaking-point-southeast-asias-road-traffic-nightmare/
23
As an example, the Philippines has the 5th highest cost of electricity in the world through the influence of the economic elite. http://www.
philippinesplus.com/2016/04/09/philippines-5th-highest-cost-electricity-world/
Business set-up
As such, FDI and local entrepreneurs do not invest their money or time if the market
by these economic elites, making nearly every candidate representing one group of
and currency is unstable, because with the lack of infrastructure, the risk is nearly
economic elites or another. There are exceptions to this as people have a greater voice
unsurmountable. Simply put, while there may be the opportunity of a massive domestic
through the power of social media, but these are really quite recent exceptions with
market, the overhead costs would be prohibitive for any entrepreneurs to move beyond
decades of laws, legislation, and regulations supporting the status quo. In the case
a ‘mom and pop’ operation. But this was not always the case, in fact, in the mid-1990s,
of infrastructure, this requires significant long-term investment through foreign direct
Southeast Asia actually had 50% of the world’s FDI invested in the region, that is, until
investment (FDI) assistance, which many of these nations are not structured for (i.e. the
the Asia Currency Crisis hit in 1997.
investment risk is too high). Through the issuance of the ARCC, we look to address two
issues that affect the individual on a macroeconomic scale, namely: (i) stability and (ii)
infrastructural investment.
7.2 South Korea & ASEAN Case Study
In the early 1990s, South Korea and the Southeast Asian countries were being introduced
7.1 Development Economics, a First Principles Approach to the western financial markets. By the mid-1990s, as their financial and real estate
markets opened up, nearly 50% of the world’s capital investments were being made in
In Development Economics, the first principle is that economic development requires Asia. But here is where the ‘tale of two cities’ diverge greatly.
stability.
By 1996, Korea had experienced amazing growth and so had many of the Southeast
1. Stability leads to investment confidence. Asian countries from the Philippines to Malaysia and Thailand. But in 1997, the Asian
2. Investment confidence leads to Foreign Direct Investment (FDI). Currency Crisis hit. Essentially, after holding massive currency and investment positions
3. Local entrepreneurs take risks to invest in the market. in Thailand, the international community had a loss of investor confidence26 which led to
a run on the Thai Baht and a massive devaluation of the currency. The Thai government
What FDI does is that it creates the infrastructure which can contribute to lower costs had pegged the Baht to US dollar and was unable to continue to defend it, and as a
for doing business. For instance, newer roads for commercial shipping makes shipping result ended up using virtually all of its US dollar reserves, i.e. Foreign Reserves.
more efficient, but also for public transport which also uses those roads (thus cutting
down on commuting times and increasing productivity). In times of economic stability, Foreign Reserves are what central banks of governments hold, which are currencies of
the local entrepreneurs can take risks to invest their money, with the knowledge that other stable first world nations (e.g. USD, CHF, YEN, etc.), so they can use it to prop up
their money in savings will continue to retain its value. Coupled with new infrastructure, their own currencies in the case of potential massive currency devaluation or attack.
this decreases the costs and risks for the local entrepreneur to launch their businesses. The central bank would use dollar foreign reserves to try to hold the value of their own
currency by buying it with foreign reserves – even as other panicked short sellers tried
FOR EXAMPLE: to sell them. This works until the foreign currency reserve is depleted.27 It is the same
Unlimited broadband costs $17 US dollars a month or less in South Korea for for companies who take loans in a foreign currency that they do not earn in. If the
100Mbps24, and in the Philippines it costs $37 US dollars for 8Mbps25. Comparing the exchange rate is favorable, then it is cheaper to pay in the foreign currency, but if the
expenses for the entrepreneurs of these two countries: home currency were to suddenly drop in value, then the interest payments alone could
8% of the service for 200% of the cost for the Philippines compared to South Korea. suddenly increase by 10%, 20%, even 50% overnight. During 1997, the Thai Baht at its
height devalued to 50% of its value to the USD in a matter of days.
But taken further, the per capital income of the Philippines is $9,400 and Korea’s per
capital income is $35,790 (3.8 times the difference). The real relative cost for the Thus, as the Baht was floated and began to severely devalue, this created a cascading
Philippines’ entrepreneur versus the Korean one is: effect across Asia, and as a result all Asian currencies began to rapidly depreciate.
over 760% higher for broadband access and still at 8% of the service. Then, suddenly, all the domestic companies which had been accepting loans in foreign
24
http://edition.cnn.com/2010/TECH/03/31/broadband.south.korea/index.html 26
https://en.wikipedia.org/wiki/1997_Asian_financial_crisis
25
https://www.expatistan.com/price/internet/manila 27
Currently East Asia countries hold massive foreign currency reserves as a preventative measure to discourage attacks on its currency,
learning after the lessons of the 1997 crisis.
Business set-up
Figure 12: Top 10 forex reserves by country31

currencies could not pay the interest on these loans because they only earned in their
rapidly devaluating domestic currency. It was so severe and due to the interconnectivity
Here is a list of the top 10 countries - China tops the list with a solid $3.2 trillion in
of international markets, it was feared that if South Korea had fallen, then the entire world
reserves held:
economy would have crashed as well.
Rank Country Forex Reservez ($B)

Ultimately, the International Monetary Fund (IMF) stepped in with loans of tens of billions
#1 China $3,161.5
of dollars to stabilize the currencies. There were three countries that took and accepted
the aid: South Korea, Thailand and Indonesia. This IMF aid was not given without strings #2 Japan $1,204.7
attached and while many of the policies have been greatly criticized, the main purpose of #3 Switzerland $785.7
the policy required that these countries develop more stable and transparent financial and
#4 Saudi Arabia $486.6
corporate structures. It was the hope of the IMF that with more stability and transparency
these economies would again create confidence within the global markets and their #5 Hong Kong (China) $437.5
respective currencies would also stabilize. Both South Korea and Thailand recovered #6 India $397.2
quickly; South Korea becoming, once again, the nation with the highest level of continued
#7 South Korea $385.3
growth worldwide and Thailand stabilizing and experiencing its own advancement.
#8 Brazil $358.3
In the case of South Korea, once there was some measure of stability regarding their #9 Russia $356.5
currency, the existing infrastructure kicked in and South Korea looked toward investing
#10 Singapore $279.8
in new infrastructure, namely the internet. Post-1997, South Korea ensured that every
region, no matter how remote, had the highest level of broadband internet access and The first thing you may gather from this list is that major economies like the U.S. and
then telecommunication mobile connectivity. The extent of this is seen that even in the Europe are noticeably absent, but that is because the U.S. dollar and the euro are
depths of the subway system, or locked between two mountains, there is still a signal for the most common reserve currencies used in international transactions. As a result,
broadband mobile LTE data. This is the result of the government’s investment into a new countries such as the United States do not need to hold as many reserves.
industry of infrastructure which has led South Korea to continue to grow even with the
constant political/military threat of North Korea and having been decimated by the 1997
Asia Currency crisis. 7.3 Addressing Instability as a Regional Crypto-Reserve Currency
While it may seem that the effects of the 1997 crisis have all been resolved throughout Asia Emerging markets32 in this paper are defined as having the following:
and now most Asian states have considerable foreign reserves,28 to prevent this situation
from being repeated, the situation on the ground shows a much different story. Whereas 1. High Population (large potential market)
East Asian nations such as South Korea, Hong Kong and Taiwan had infrastructure and 2. Insufficient Urban Infrastructure
invested further, those nations which had little infrastructure when the crisis struck saw 3. Extreme Inequality in Wealth Distribution (i.e. no middle class)
them bounce back on paper, but not in terms of quality of life.29 To date, the effects 4. Currency/Political Volatility
of the 1997 crisis can been seen in most Southeast Asian countries that were affected
by incomplete development of would-be skyscrapers and urban development30 halted This equates to a perception of instability, and again leads to a lack of investor
midway nearly 20 years onwards. confidence. As mentioned in the introduction, most ASEAN nations are emerging
28
https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves http://www.visualcapitalist.com/countries-most-foreign-currency-reserves/, https://howmuch.net/articles/countries-with-the-biggest-
31
Singapore remains an exception to the majority of the economic situation in SEA; Thailand continues to be a progressive economy, yet
29
forex-reserves
even in these countries, there is a significant gap in income and a pronounced difference in quality of life in Thailand. Emerging markets is the current term used in the investment field, while developing economies is used in the broader sense. The terms
32
http://www.dailymail.co.uk/travel/travel_news/article-4815540/Inside-Bangkok-s-ghost-towers-abandoned-20-years-on.html
30
‘3rd world’ and ‘1st world’ are now considered outdated terms. For the purpose of general impact and clarity, the aforementioned terms
were used.
Business set-up
markets. But taken as a region, the ASEAN region is stable and growing. A strategy that The idea of a regional currency for ASEAN34 has been floated and discussed in great
occurred after 1997 for multinationals operating in the region was to only work with detail ever since the EUR launched in 2002. But unlike grouping a region of developed
regional service providers (rather than single country local operators) so that even if nations, the great diversity between emerging markets makes it impossible to have a
there was a single country disruption of service, there would still be a regional network single centralized fiscal policy. Emerging markets priorities flexibility to maintain stability
of support. and prevent further instability leading to a potential crash. Any regional centralized fiscal
policy would ultimately be disastrous if applied as a whole to an emerging market region
Thus, a major area of instability is expressed through the volatility of these emerging as it would not allow for an immediate response in case of a potential individual market
market currency exchange rates. As such, countries (i.e. Cambodia) use the US dollar crash scenario.
as its main currency for retail and financial commerce, with the local currency the
Cambodian Riel used for micro commerce. In most ASEAN countries, the use of the ARCC as a regional crypto-reserve currency allows for the flexibility for emerging
USD or other foreign currencies is widely used due to the major industry of international markets to retain their full fiscal independence while providing another level of stability
tourism, but USD is also held as a means of individual personal savings. Moneychangers to the region and more importantly directly to the individual.35 The core value of
are available throughout urban commercial centers and even small villages for both ARCC is found in Part 1 of this white paper, but the purpose of Part 2 is to present the
locals and tourists. opportunity for ARCC’s application as a regional currency play than just limited to a
single market. Ultimately, at a macroeconomic level ARCC has two major objectives: 1)
The issuance of a regional crypto-reserve currency simultaneously solves several major establishing another level of regional stability, and 2) engaging in regional investments
economic developmental issues. The main benefit is the ability to align the value of that promote economic cooperation and regional infrastructure. In resolving the
ARCC to the region. Much like when the EURO was created by the EU, the basis of the microeconomic production issues of corruption and financial inclusion, ARCC will be
value was in recognizing the EU as a whole; along with their member states. ARCC as ideally positioned to be the regional reserve currency for all of Southeast Asia.
a cryptocurrency and decentralized structure has a significant innovative advantage:
there does not need to be a political reorganization or replacement of the existing local Figure 13: Current global reserve currencies 36
centralized economic systems and local currencies as a requirement for existing. This
is the first time in monetary history that through cryptocurrency, a super structure To put this all into context, here is what central banks reported in 2017 Q3 for their
can be created which can selectively link an economy’s value to specific resources foreing currency holdings:
without being affected by what creates the instability, i.e. taking the good without the
bad. This was not possible at this scale or scope before the invention of decentralized Rank Reserve Currency Global Holdings
cryptocurrencies.
#1 U.S. Dollar 63.5%
Centralized economic structures have inherent limitations for developing economies #2 Euro 20.0%
as they are overtly fragile. Failure in the stock markets, currency, employment and #3 Japanese Yen 4.5%
trade lead to an immediate cascading effect in emerging markets because there is no
#4 British Pound 4.5%
underlying structure of market stability. Cryptocurrencies, through their decentralized
structure, allow a developing economy for the first time to mitigate the risks to #5 Canadian Dollar 2.0%
stability that arise from independent local market failures via linking the basis of value #6 Aussie Dollar 1.8%
regionally. We can see the inverse of this with the complexities and issues within the
#7 Chinese Yuan 1.1%
EU and the EUR. The EU has a diverse set of member markets but a centralized fiscal
n/a Other 2.6%
policy. While the EU has requirements for member states to join the EUR and maintain
a fiscal position, ultimately when there is gap in the fiscal status of a member state,
the centralized regional fiat of EUR is unable to provide flexibility on a per country http://www.cariasean.org/news/should-asean-even-consider-a-single-currency/
33
basis.33 The result has now been a series of bailouts whereas a more decentralized http://business.inquirer.net/236292/common-currency-banking-system-seen-next-step-asean-integration
34
It is not the purpose of this white paper to debate whether or not cryptocurrencies will replace fiat currencies, but it is the position of
35
system would be more flexible. Yet the reasons to join as a single currency market are
this paper that this is a time of transition between the exiting centralised economic systems and a decentralised one. This project is very
undeniable. much rooted in this period of transition.
http://www.visualcapitalist.com/countries-most-foreign-currency-reserves/, https://howmuch.net/articles/countries-with-the-biggest-
36
forex-reserves
Business set-up
8 ARCC Token Raise and
03
Minting Schedule
ARCC after the initial token raise will be on a continuous token minting model for a period of 25
years. The model is based on the general Hong Kong public company mandate of issuing new
equity a year, which has been adjusted for this model. Fundamentally, as ARCC is structured like
a sovereign wealth fund, its entire compensation is tied to performance and the new minting of
coins puts further performance pressure on the management team to generate results.
8.1 ARCC Initial Exchange Token Raise
ARCC 1. Private Presale 2. Initial Exchange Token Raise
TOKEN 20M
50% Discount
4 Stage Capped Raise
ECONOMY 3,6,9 Month Vesting

Schedule
(30%, 30%, 40%)
10 Days @ 20% Discount
8. ARCC Token Raise and Minting Schedule 31
9. ARCC Monetary Policy Mandate 37

10 Days
@ 5% Discount
10. ARCC Token Economy & Valuation 37
11. Phase One of the ARCC Token Economy 20% Continuous Annual Mint 38
20M presale
10 Days 50% Discount
12. Phase Two of the ARCC Token Economy 2% Continuous Annual Mint 40 @ 10% Discount
Public Sale
10 Days
@ 15% Discount Soft Cap of 20M USD
Initial ARCC Token Price
@ 0.16 USD
10 Days
@ 20% Discount
www.ibmr.io 47
46 www.ibmr.io
Business set-up
8.2 ARCC Token Raise Usage Allocation 8.3 ARCC Funding Use Cases
To executive this crypto-reserve model, new ARCC tokens will be minted at the end of the
token raise and on an annual schedule for 25 years thereafter. Instead of estimating a total
1. Presale: 2. Initial Token Raise:
mint and then holding a large percentage of ARCC, the structure was determined to allow
3% for flexibility in relation to the market adoption and strength of ARCC. For example, there
Legal &
Administration are five use cases that require an annual new mint supply of ARCC:
50%
Software 2%
Develovpment (a) Management &
5% Operations(c)
Software
Development(b) 1. ‘Social Proof of Work’ Annual Allotments of ARCC:
The social mining of ARCC per year will be capped at a set number and
be taken from an annual pool. The rate of mining will be scaled on a
weekly basis based on the frequency and remaining ARCC coins for the
pool. Each market will have its own annual pool allotted for mining.
2. Airdrops for New Users:

Those users who are 16 years will be eligible for an airdrop in the year
they turn 16.
3. Currency Reserve:
45%
IBMR.io will sell into the market if the price of ARCC becomes speculative
Regional or above the monetary policy mandate and gain further foreign currency.
50% Investments 45%
Legal and Administrative Currency
Fund Set-up Costs (b) Reserve (a) If the new annual minted ARCC in the Currency Reserve is not used, and
if the value of the ARCC is less than the annual average price of that year
it was issued, then it will be burned at the end of year before the new
minting.
Notes: Notes:
(a) An investment fund structure requires the necessary licenses (a) The Currency Reserve and Investments will be immediately 4. Regional Investments:
and compliance to operate. executed/established upon the close of the raise. ARCC will be used in order to seed new investments, grants, scholarships
(b) A full software product buildout will be done, not a minimum (b) S
oftware and legal & administration set-up costs are outlined
and regional competitions as ARCC. If no suitable investments are
viable product. separately here.
available for the year that meet the investment criteria, then the excess
(c) M
anagement & Operations allotment includes all operational
costs.
ARCC will be burned at the end of the year before the new minting.
5. Management & Operations:

ARCC will be used to cover the cost of management salaries, operations
and development as well as performance bonuses. As a social impact
project, the model is to make a significant change alongside being a
competitive fund. As such, the focus on the management is to find the
best and most highly qualified staff in the public and private sectors.
Business set-up
8.4.4 Phase 2 Annual Token Mint (7-Year Period):

8.4 ARCC Token Minting Schedule
2% New minted coins of the total outstanding ARCC

8.4.1 Initial Token Raise = Total # of Tokens Bought at ‘Pre-Sale’ & ‘Initial Token Raise’
(Total number of ARCC sold in pre-sale and through partner exchanges for the initial token Example:
raise) Starting from the end of the 19th fiscal year of the ARCC reserve, 2% of new ARCC will
be minted and held by IBMR.io for internal allocation. So if the total ARCC market supply
Example: in existence is 500,000,000 ARCC tokens, then 2% of 500,000,000 ARCC will be newly
Whatever number of ARCC tokens are sold for the seeding of the reserve structure will be minted, resulting in 10,000,000 new ARCC. For a total new supply of 510,000,000 ARCC.
minted and distributed to the buyers. This will occur annual for 7 years thereafter.
Notes:
8.4.2 End of Initial Token Raise = Total # of Issued Tokens Doubled After a period of 18 years, the maximum new minted supply will be at 2% of the total
(The total number of ARCC issued at end of the token raise will be doubled) supply of ARCC in circulation and the ‘ARCC Currency Reserve’ will no longer issue new
coins 5 years thereafter. After which point, the ‘ARCC Currency Reserve’ will seek to
Example: maintain the existing value of ARCC, as is, indefinitely.
The total number of minted ARCC from the Initial Token Raise will be doubled and held by
IBMR.io for internal allocation. So, for example, if 10,000,000 ARCC are minted for the Initial
Token Raise, then an additional 10,000,000 ARCC will be minted (doubling the total supply)
for a total ARCC supply of 20,000,000.
8.4.3 Phase 1 Annual Token Mint (18-Year Period):

20% New minted coins of the total outstanding ARCC
Example:
Starting from the end of the first fiscal year of the ARCC reserve, 20% of new ARCC will be
minted and held by IBMR.io for internal allocation. So if the total ARCC market supply in
existence is 20,000,000 ARCC tokens, then 20% of 20,000,000 ARCC will be newly minted,
resulting in 4,000,000 new ARCC. For a total new supply of 24,000,000 ARCC. This will occur
annual for 18 years thereafter.
Notes:
The annual 20% of newly minted coins is modelled after the Hong Kong publicly listed
company mandate that allows for Hong Kong publicly listed companies to offer up to 20%
new shares annually on the basis of a new business plan or model. In the same way, the
‘currency reserve’ will require new ARCC in order to maintain its market-making capabilities
and maintain a ‘stable’ growth. The currency reserve will also be able to ‘burn’ excess
ARCC coins out of existence and circulation. Thus, an excess of non-performing coins will
be burned in the case of oversupply. Burning of coins will also extend to include any ARCC
bought from the market by the currency reserve which is non-performing towards ARCC’s
monetary policy mandate.
Business set-up

8.5 Example of Theoretical Total Schedule
8.6 ARCC New Mint Token Usage Allotment
of Minting Schedule
Assuming, 10,000,000 ARCC Tokens to start with at the end of the Token Sale;
1. End of ‘Initial Token Raise’ Mint
Assuming, no ARCC Tokens were ever burned because of excess supply due to non-performance;
In practice, whatever the total ARCC is at the initial token raise is, that will be the Year 0 starting point.
2%
Management & 25%
Figure 14: Example of theoretical total schedule of continuous mint Operations(d) ARCC Airdrop(a)
25% ARCC Airdrop(a)
20% ARCC Social Proof
Initial Token Raise 0 20,000,000.00 2 x Initial Token Raise of Work Allocation Pool(b)
15%
Regional 38% Currency Reserve
1 24,000,000.00 20% Investments(c)
15% Regional Investments(c)
2 28,800,000.00 20% 2% Management & Operations(d)
3 34,560,000.00 20%
4 41,472,000.00 20%
5 49,766,400.00 20%
6 59,719,680.00 20%
38%
7 71,663,616.00 20% Currency
Reserve 20%
ARCC Social Proof
8 85,996,339.20 20% of Work Allocation
Pool(b)
20% Mint Years 9 103,195,607.04 20%
(18 Years)
10 123,834,728.45 20% Notes:
(a) ARCC adoption in the emerging market target markets would be done via an initial airdrop. Awareness of the
11 148,601,674.14 20%
airdrop would be done through mainstream media channels (newspaper, TV, and social media).
12 178,322,008.97 20%
(b) The airdrop allocation amounts will be distributed on a proportional basis to the urban population of each
13 213,986,410.76 20% of the target markets. The ARCC Social Proof of Work Allocation Pool will also be divided by the same
14 256,783,692.91 20% proportional urban population basis.

(c) The ARCC allotted for Regional Investments will be invested as ARCC and/or exchanged on secondary
15 308,140,431.49 20%
exchange markets before investment. The exchanging of ARCC and the exchange schedule in these cases
16 369,768,517.79 20% will be publicly announced and done in scheduled increments so as not to disrupt the markets.
17 443,722,221.35 20% (d) The ARCC received by the Management & Operations will be vested after 1 year. In case of any budgetary
shortfall, the ARCC allotted for Management & Operations will be exchanged for operational funding. Any
18 532,466,665.62 20%
remaining ARCC will still be held to the 1-year vesting date.
19 543,115,998.93 2%
20 553,978,318.91 2%
21 565,057,885.29 2%
2% Mint Years
(7 Years) 22 576,359,042.99 2%
23 587,886,223.85 2%
24 599,643,948.33 2%
25 611,636,827.30 2%
Business set-up
8.7 ARCC Currency Reserve Fund Inflow and Investment Fund

2. Stage 1 Annual Token Mint (18-year period) @ 20% Additional Supply
10% 5% ARCC Currency Reserve Inflow

Management & ARCC Airdrop(a)
Operations 5% ARCC Airdrop (a) The following represents the direct fund inflow sources to the ARCC Currency Reserve beyond the initial
20% ARCC Social Proof seeding of the Currency Reserve from the initial token raise.
of Work Allocation Pool
25% Currency Reserve (b)
20% 40% Investments
ARCC Social Proof
of Work Allocation 10% Management & Operations
Pool
40%
Investments 25%
100% 40 % 40 %
Currency Reserve (b)
Notes:
(a) The Airdrop in subsequent years will be limited to those who reach the age of 16.
(b) The Investments have a higher allotment than the Currency reserve due to the need for regional market alignment
Net Profits* from Currency Reserve Net Profits* from Net Profits* from
Principle Management (a) all Investments (b) all Other Incomes (c)
3. Stage 2 Annual Token Mint (7-year period) @ 2% Additional Supply
20% Notes:
ARCC Social Proof (a) The Currency Reserve’s available liquid principle will be professionally managed and 100% of the net profit will be booked into the
of Work Allocation 20% ARCC Social Proof
Pool Currency Reserve.
of Work Allocation Pool (b)Dividends, equity exits and profit-sharing type of revenue derived from the Investments will be deposited into the Currency Reserve as
70% Currency Reserve(a) these profit sharing events occur.
10% Management & Operations (c) O ther Incomes are any income derived from the entirety of the operations of ARCC, such as advisory and consulting services, business
developed to support ARCC, etc.
*Net Profits to be defined as Gross Revenue net of taxes, operational costs (including salaries, audit costs, etc.) and transactional/
procurement fees.
**Founders will earn a nominal $1 cash salary from IBMR.io
70%
Currency 10%
Reserve (a) Management &
Operations
Notes:
(a) This period represents a consolidation of the Currency Reserve for a monetary policy mandate towards stabilizing the long-term price of
ARCC, as such, management will be focused solely on the Currency Reserve and liquidating and/or structuring the existing Investments into
the Currency Reserve.
Business set-up
ARCC Investment Pool Inflow 2. NEW MINTED ARCC

The following represents the direct fund inflow sources for ARCC Investment Pool beyond the initial funding of End of Initial Token Raise of Minted ARCC
the ARCC Investment Pool from the initial token raise. 2% of Total New Minted(a)
3. STAGE 1 ANNUAL TOKEN MINT (18-year period) @ 20% Additional Supply

10% of 20% New Minted Supply = 2% of Total ARCC supply
4. STAGE 2 ANNUAL TOKEN MINT (7-year period) @ 2% Additional Supply

10% of 2% New Minted Supply = 0.2% of Total ARCC supply
40% 40% 5. PROFITS FROM INVESTMENTS & OTHER INCOME

20% Net Profits from Investments
20% Net Profits from Other Income

6. POST MINTING PERIOD (25-Years thereafter)
Net Profits* from all Profits* from Only the 20% Net Profits from ‘Profits from Investment and Other Income’ will be
Investments (a) all Other
Incomes (b) received.
Notes:
Notes:
(a) Dividends, equity exits and profit-sharing type of revenue derived from the Investments will be deposited back the ARCC Investment
Pool as these profit sharing events occur. (a) This ARCC received by the Management & Operations will be vested after 1 year. In
(b) Other Incomes are any income derived from the operations of ARCC, such as advisory and consulting services, business developed to case of any budgetary shortfall, the ARCC allotted for Management & Operations will
support ARCC, etc.
be exchanged for operational funding. Any remaining ARCC will still be held to the
*Net Profits to be defined as Gross Revenue net of taxes, operational costs (including salaries, audit costs, etc.) and transactional/
procurement fees. 1-year vesting date.
**Founders will earn a nominal $1 cash salary from IBMR.io
As an economic development project, management and leadership is a critical factor in

tackling the issues of corruption and regional investor confidence. The accountability of
8.8 ARCC Management Fee the project lies in the hedge fund fee structure as compensation and operational funding
as it is entirely tied to performance. As the product is ARCC’s performance as a crypto-
ARCC will be structured as a type of independent Sovereign Wealth Fund (SWF), as such, reserve currency, if the value of ARCC does not meet expectations, then management’s
IBMR.io will be set-up in the same fee structure as a standard hedge fund of 20 & 2, i.e. compensation as well as operational funding is affected on all levels.
management and operations will be funded on a 20% basis of profits earned by investment
and revenue generating operations and 2% of new ARCC minted coins per year. Past Unlike a normal hedge fund where the 2% fee on assets is held/drawn from a typical fiat
the initial token raise, all operational costs will be funded through this management fee, currency composed investment fund (investment received in fiat currency), the ARCC
including legal, software and management. As such, the Management Fee is always net of model of 2% is drawn from the annual newly minted ARCC, which creates greater supply
all business operational costs (staffing, overhead, legal, software development, etc.). Founder and adds to downward pressure on the price. Additional pressure for performance
will receive a nominal cash salary of $1 USD. is on ensuring that the Currency Reserve at least performs better than inflation, to
retain its real monetary purchasing power. Non-performing Investments result not
1. FUNDS RAISED only in not receiving the 20% net profit for management, but also in putting further
Initial Token Raise of Funds Raised significant downward pressure on ARCC as there will be loss of the investment principle
2% of Total Raised and no fund inflow for both the Currency Reserve and for reinvestment. In essence,
compensation and incentives are entirely performance based.
Business set-up
9. ARCC Monetary Policy Mandate 10. ARCC Token Economy & Valuation
At the core of the IBMR.io Economic Development Model is ARCC as a Crypto-Reserve
The ARCC Monetary Policy Mandate will dictate the targets for the price trajectory of
Currency. This ultimately dictates the rationale behind the ARCC token economy
ARCC is on the secondary markets. This is in lieu of a straightforward ‘pegging to’ value
set-up (Reserve Structure, Social Proof of Work, Inflow of Funds, and Regional Market
policy as seen with current stablecoins, i.e. pegged 1 to 1 to the US dollar.
Alignment) and valuation.
The overall mandate will be for ARCC to steadily increase in value over a 25-year period.
Current applications of a majority of the stablecoin in the cryptocurrency space

Due to the current market volatility, the current mandate will be to simply defend the
are focused on its adoption and application in financial trading. As such, the token
initial token raise value of ARCC on an average quarterly year basis, while aggressively
economy model of these coins is limited to its function and impact in the crypto-to-
adding to the total amount held in the Currency Reserve.
crypto exchange space. This has resulted in a more limited scope in structuring a
stable financial instrument for trading, rather that macroeconomic model of an actual
After the 5th year, the standing mandate will be to buy and sell in the secondary
currency. Inherent in all currencies, by definition, would be that they would have some
exchange markets for ARCC to have an annual average growth rate within the range of
element of stable or reasonable and expected price movement.
2% to 5%.
The starting point for discourse in structuring ARCC was in looking at the difference
After the 10th year, the standing mandate will be to maintain an annual average growth
between successful and failed fiat currencies to determine the key characteristic
rate within the range of 1.5% to 2% indefinitely.
of a currency. Specifically, the underlying value behind a currency is as complex as
the nations that issue them. On a superficial level, every currency has a checklist of

requirements that make a currency a currency (stable medium of exchange, backed by
ARCC Monetary Policy Mandate Timeline some type of asset, centralized issuance, etc.), but that does not give any insight into
why not all fiat currencies are created equal and why not all currencies are used in
the same way on a global macroeconomic level. Each and every national fiat currency
today has a certain unique use case and world ranking based on the characteristic
Year 0- Year 5 Year 6- Year 10 Year 10+ of the nation state that issues it. Currencies such as USD and CHF are considered
reserve currencies and may actually not be the most stable in price, but likely have
the highest degree of trust associated with them that actually defines their level of
Defend Initial ARCC 2%-5% 1.5%-2%
‘stableness’ and not the actual price. Whereas currencies like CAD and AUS exhibit
token raise price Annual increase Annual Increase
similar market behavior and usually appreciate when there is a boom and confidence
in global business and expansion. Yet, are they more trustworthy than USD and CHF?
In this case, perhaps not, but the CAD and AUS adoption use case becomes stronger in
Note: The policy to defend the initial ARCC token price is a minimum bottom mandate whereby the action is only defend. Should the
ARCC price rise due to supply/demand pressures or due to positive IR sentiments on the investment returns of the ARCC investments
a global business boom because there is a greater need for their national resources.
or a positive effect on the regional productivity, ARCC will not move to regulate the price and let the market dictate the top line pricing
above that of the initial ARCC token raise. This actually provides an insight into the complexity of currencies and how the
present competitiveness of the issuer affects the value. That all currencies actual
But post year-5, the mandate will be to keep the ARCC price within the respective stated range for stablecoin usage in actual derive their ‘true value and corresponding use cases’ by the degree and nature of their
entrepreneurial investments rather than have its value as a speculative assetv
national competitiveness and perceived confidence and trust in the future state of
that confidence. The criteria of ‘trust to pay back’ or ‘resources backing the currency’,
Post 25 years, the mandate of 1.5%-2% may need to be revised dependant on the size of the currency reserve, but the objective is to
hold that range for as long as possible
in and of themselves, are not the x factor that define the currency. Rather, it is the
trinity of trust, competitiveness and the nature of the issuer’s production and level of
productivity that gives life to the myth of currencies. The first two aspects of trust and
competitiveness can be easily manufactured, but the nature of the issuer’s production
Business set-up
and level of productivity must be proven in deeds. How a currency is adopted or used is
simply the result/outcome/expression of these characteristics and not by own its design. If
that was the case, then every nation would design and issue a ‘stable’ successful currency.
To summarize, the basis for how ARCC was first structured was with an understanding of Figure 21: Design to production, the currency myth gap
how to increase or develop production and what would be the nature of that production. In
failing emerging markets, production and productivity are crippled by corruption. We define
the effects of corruption as insufficient public infrastructure, exploitive costs and financial JUMPING THE GAP ESTABLISHES THE MYTH OF THE CURRENCY
exclusion. These three aspects combined suppress the most powerful tool of production, Through the deliberate design and combination
namely entrepreneurship. If the acquisition of ARCC can resolve this issue of corruption and of both Trust and future Competiveness, over time,
the jump can be made.
thereby allow for production/productivity to develop, then ARCC is on its way to becoming a
currency.
Whatever the final form or ranking of ARCC as a currency ends up becoming is beyond the
scope of this model, as ultimately it will be defined by what type of production flourishes.
But in the case of the Southeast Asia region, with a diverse population of 630 million people,
the result will change the world economy as we now know it. The aspects of trust and the
degree of competitiveness will define ARCC’s final currency world-ranking and usage, but it
is on this first basis on why there is a ‘Social Proof of Work’ mechanism for adoption that has
its utility in production via addressing systemic corruption. The problem that ARCC is solving
is not a stable currency problem, but corruption because it is the single biggest barrier to the TRUST
NEEDS TO BE PROVED BY ADOPTION & USAGE

production/productivity problem. To summarize, a successful and true currency’s value is held Is this currency back by
fundamentally sound
in the issuer, defined by the scope of the issuer’s production/productivity, and then ranked by
management, network, or
CURRENCY MYTH GAP

the trust and competitiveness of that production. mechanism which directs its
current valuation?
PRODUCTIVITY
But what makes it possible for ARCC to even exist, is the innovation of a decentralization
Does this currency reflect
network. This in turn puts the value of the currency in the hands of the network participants as the production level and type
the issuers. If they can mobilize ARCC for investment towards production/productivity, then the of production in the market
where it is adopted and as such
end game is in sight. But even if underlying assets do not create the established myth of the holds a secured/indispensable
successful currency, it is still a starting point for having ARCC used for production. As such, the COMPETITIVENESS position as an expression of the
Is this currency backed by any economy?
Currency Reserve structure can be understood as a mechanism to create the base range value underlying assets or associated
of ARCC, while the Regional Investments further encourage alignment and development of the value that will continue to grow
with the currency’s future value
market’s productivity. and can be exchanged for the
currency in the future?
ARCC’s Token Mint schedule may seem as though it is putting too much downward pressure
on the value because it is minting at an annual 20% increase in total supply. This occurs
for a period of 18 years, then at a 2% supply increase for another 7 years, for a total of 25
years of additional supply. But when a currency’s value is understood in terms of its effect
on production, then as long as the additional supply is properly deployed to encourage
production, the value of the currency gains from the overall increase in productivity.
ACTUAL REFLECTION OF PRODUCTIVITY
If the currency is a reflection of productivity,
then it takes on a life of its own provided that
the elements of trust and competitiveness
maintain their levels.
60 www.ibmr.io
Business set-up
11. P
hase One of the ARCC Token Analysis
Economy 20% Continuous Annual Downward Currency Price Pressure: The 1% of the annual airdrop to those who come of age
Mint
in that calendar year adds to liquid, but will be subject to a 3 year vesting schedule. While the
4% will add significant direct liquidity to the supply, but its effect will be split over a 3 year
vesting period. So the full effect of the 5% additional supply will not be felt until the 3th year
The first 18 years of 20% new ARCC continuous mint allocation:
and continues onwards.
5% ARCC Airdrop (1% of Total Supply)

20% ARCC Social Proof of Work Allocation Pool (4% of Total Supply) Vesting Schedule of Airdrops & Social Proof of Work ARCC Allocation
25% Currency Reserve (5% of Total Supply)
40% Investments (8% of Total Supply) Rank Year 1 Year 2 Year 3 Year 4 Year 5
10% Management & Operations (2% of Total Supply)
Vested Year 1 20% 20% 60%
Vested Year 2 20% 20% 60%

5%
10% ARCC Airdrop Vested Year 3 20% 20% 60%
Management
& Operations
Vested Year 4 20% 20%
Vested Year 5 20%

20%
ARCC Social Proof Etc
of Work Allocation
Pool % of 5% Supply 20% 40% 100% 100% 100%
Therefore, we expect the full downward price pressure on ARCC by year 3. Yet, this
40% vesting schedule begins when ARCC is released its affects will happen over the course
Investments 25%
Currency Reserve of year.

11.1 Airdrop & Social Proof of Work Allocation Pool (1% + 4% of Total Supply) Upwards Currency Price Pressure: The effect of adoption of adoption should have a
A full 25% (5% and 20%) of the newly minted ARCC can be understood as being mined and distributed stabilizing and/or positive effect on ARCC’s value. One measureable aspect will be the
from a fixed pool each year. The ARCC minted here has a direct value in adoption to the actual users rate of mining. If the rate of mining is quite high, it will demonstrate a need for supply.
who will be responsible for future production, while the act of mining through Social Proof of Work is Thus putting upward pressure on the price in the secondary markets. As the rate of
decreasing corruption, and thus maximizing the further deployment of the ARCC for entrepreneurial mining remains high, the amount of ARCC mined will decrease. The point of equilibrium
investment. The ARCC mined by the user is always on a 3-year vesting schedule, no matter how between the amount mined and the secondary market price will be a strong indicator of
or when they mined it. On the day the ARCC is mined, that ARCC is on a 3-year vesting schedule. the price trajectory.
Thus, any new mined ARCC does not actually immediately affect the secondary market with supply.
The purpose of the vesting period is to clearly position ARCC as an asset and not liquid cash. Even Trust, Competitiveness, Production Contribution: In terms of long term ARCC price
though the not-yet vested ARCC cannot be withdrawn to a secondary exchange, the ARCC can be stability as a regional crypto-reserve currency; trust will be achieved after the first
immediately put to use on the platform’s asset management and social services. Since only ARCC vesting schedule is completed and the price holds in year 1. By the end of year 3, if the
earned in the platform can be used on the platform, users are forced to participate in the effort to network is self-sufficient in relation to the secondary market price, then basic trust will
reduce corruption, and thus increasing the future purchasing impact of their vesting ARCC. As it is a have been established in the base value of ARCC as a currency. The rate of adoption will
fixed pool of 25% new ARCC a year going directly to users, we also can model the effects of future continue support competitiveness of ARCC as a long term value proposition, while the
new supply with greater accuracy. killer metric will be how ARCC is spent in year 3 in terms of entrepreneurial activities and
project.
Business set-up
Trust, Competitiveness, Production Contribution: The first three years of management

11.2 Currency Reserve (5% of Total Supply)
will be done manually with trading algorithms, but will not be forecasting the policy
Another 25% of ARCC goes into the Currency Reserve and can be released into the
to the public. Trust in the value of ARCC can be made by consistent communication,
greater secondary market if the demand is there. Thus, if the demand is there, the
no insider trading, and post trade analysis on the reasons for the action. Over time,
Currency Reserve’s 25% can be used to further strengthen its basket of currencies and
certain trades which have little chance for manipulation and which contribute to
thus increase the base value of ARCC. If the market has demand for ARCC, and there is
ARCC price increase or stability, will be smart contracted in. The actual track record
upward pressure, then providing additional ARCC supply would be beneficial to managing
of consistent trading and performance of ARCC in relation to the currency reserve
a steady growth. In the case of hyper speculative upwards demand, ARCC selling into
management will contribute to the future competitiveness outlook. Production
that market would provide ARCC with additional reserves for when the speculative
contribution will come after the 3-5 year mark where price stability will matter more
demand crashes and market corrects. Then, the ‘foreign currency’ gained during the
for investment into entrepreneurial activity more than its value as a speculative
speculative upward rush would be used to buy back ARCC to align it with its estimated
investment. As such, should the market sentiment transform to using ARCC for
stable growth trajectory. In the case where the value of ARCC is essentially growing
entrepreneurial activity, then the best place will be for the currency reserve to priority
at a stable reasonable trajectory, then the 25% of ARCC which was not used in the
price stability over than of price increase. This would be determined by the average
reserve can be burned. In an ideal case scenario, whereby ARCC itself stabilizes at high
amount of ARCC holders per user on the network. As such the internal target now is
value, then the newly minted ARCC will eventually be able to be deployed, as is without
$2000 USD worth of ARCC per user for the priority to focus on price stability.
exchange, for interesting bearing income within the Currency Reserve.
Analysis
Downward Currency Price Pressure: The 5% will be full felt within the calendar year. 11.3 Annual Investment (8% of Total Supply)
This will produce a downward pressure on ARCC. Even if we assume that the 5% will be The 40% of ARCC minted for Annual Investment will be the most difficult to manage
traded gradually within the year, the major issue is under what market conditions. In no in the early stages of ARCC. This 40% will likely need to be exchange to fiat and will
scenario would a portion of the 5% be sold in a downward trajectory. Not only would it add to considerable supply (up to 8% of new supply) into the market. But, successful
devalue the ARCC held in the reserve, but it would also be waste of future fund inflow to investments create a self-fulfilling positive feedback loop as ARCC not only adds to
the reserve. Selling ARCC in a negative price trajectory trend and then using those funds the region’s competitiveness, but the net profits are divided and provide external
to defend ARCC, would effectively be losing value in two transactions. Whereas, selling inflow of funding back: to the Currency Reserve (40% of net profits), to reinvestments
the ARCC into a positive price trajectory would add to the inflow and whenever the price (40% of net profits) and towards expanding operations as management fees (20%
of ARCC would drop below the buying price, then the option to buy back from the market of net profits). Thus these investments have the potential to have the biggest
would be there. Selling OTC to private buyers only delays the downwards pressure and impact both positively and negatively. In a worst-case scenario of non-performing
also created a possible attack scenario later with buyers secretly amassing ARCC for a investments, the newly minted ARCC puts additional unnecessary supply into
short selling strategy. the market and because it is a non-performing investment, there is no inflow of
funds. Investments that simply breakeven ultimately have a positive effect as the
Upwards Currency Price Pressure: In the case of oversupply of ARCC, meaning that the investments still increased the potential for regional productivity.
price of ARCC was on a constant negative price trajectory and there was no opportunity
to buy from the market, then the ARCC within the reserve will be permanently burned. Analysis
This also will happen over a gradual period of time and at different rates. Historical Downward Currency Price Pressure: The 8% will have the most downwards price
market reaction data to the effects of burning will be assessed to determine an optimal pressure on ARCC in the secondary markets. Unless investments are willing to take
strategy for this that allows the ARCC held within the reserve to have the maximum ARCC directly and hodl, which is unlikely to happen within the first 5-10 years of ARCC.
potential for inflow funds. The currency reserve excess liquidity will also be managed The effect is further amplified by the possibility of large percentages of ARCC being
in a low risk investment vehicle and thus after 3rd party management fees, 100% of the converted at one time. Unlike the currency reserve, even in a downward trend, if a
profit will added back into the currency reserve itself adding to the total reserve size. This sound investment is determined, then the ARCC will be sold into market and thus put
inflow can be used for defense or simply long term positioning for pricing support.
Business set-up
downward price pressure. The positive note here is that for every ARCC sold into the market, Analysis
the immediate announcement proceeding it will be in what investment it is going to. If the Downward Currency Price Pressure: The 2% will have a minor downward pressure
market is positive to the news, then this may blunt the effects of the downward pressure effect on the markets as it will be used for operations and drawn down as needed and
and may look like an opportunity to buy. Negative news of the investments made will put managed separately for the maximum gain. The trading of this management fee will be
downward pressure on the price. done by the operations division and not the trading division to prevent insider trading.
Also as this fee is for operations, it will be subject to the needs of the operations, and
Upwards Currency Price Pressure: Much like an equity, positive news of the investment may only at the year’s end will the remainder be distributed as profit share. But in the case
affect the price upwards, as will negative news. But any profit or dividends above that of the of a possible shortfall or a shortfall in the next year, then there would be no profit
principle made will an immediate upwards price pressure as 40% of the profits will be booked distribution. Also, the distribution of profit would only be in ARCC as is.
directly as inflow to the currency reserve. In the case of any major investment win, this would
have a dramatic effect on the size of the currency reserve. Even a negative case scenario Upwards Currency Price Pressure: The performance of management is directly tied to
would be the 40% reinvestment of the capital back into the currency reserve. the price performance of ARCC, but also the spend of operations is equally tied. As
such, any other income derived from the ARCC consulting or network will ultimately be
Trust, Competitiveness, Production Contribution: Again, like the currency reserve, the track flowing back into the currency reserve.
record will be a major indicator of trust in terms of performance. But the quality of the
investment deal flow and projects will contribute to the competitiveness backing ARCC, Trust, Competitiveness, Production Contribution: Again, like the currency reserve, the
such as government infrastructure or regional industry projects. This portion though has the track record will be a major indicator of trust in terms of performance. But the quality
most macro impact on the production aspect in that if the nature of the projects can add to of the investment deal flow and projects will contribute to the competitiveness backing
supporting entrepreneurship like a new train station or the regional private internet line, then ARCC, such as government infrastructure or regional industry projects. This portion
this area can most quantifiably display this. though has the most macro impact on the production aspect in that if the nature of the
projects can add to supporting entrepreneurship like a new train station or the regional
private internet line, then this area can most quantifiably display this. Ultimately,
11.4 Management Fee (2% of Total Supply)
success and a full usage of the investment amount into this area can place ARCC in a
At 10%, this management fee (2% of total supply) is a standard amount in hedge funds
clear stable currency position.
whereby this 2% is usually sufficient to pay for the operational costs for the year. Whereas
the 20% earned on the investment profits is where the real performance incentive is. But,
because this management fee is new ARCC supply, it is also directly tied to the performance 11.5 Stablecoin Value through Contribution to Productivity
of ARCC. If the Currency Reserve and Investments are not managed properly so that ARCC Fundamentally, as long as corruption is decreasing and production is increasing
maintains a steady price, then this 10% allotment may not cover the operational costs. In through either ARCC’s investments, the deployment of micro-assets by the users for
which case, operational costs are drawn from the investment net profits. In this way, the entrepreneurship, and public infrastructure and regional industry is growing, then ARCC
management incentive is completely tied to performance. The best-case scenario is that will achieve actual independent stablecoin value, i.e. successful currency. As such, the
the management does an exceptional job and the ARCC used can expand operations as well term of 18 years was determined because it would have provided 2-3 cycles for large
provide rich incentives. The worst-case scenario is that the allotted ARCC’s value forces a scale regional investment, as regional projects would likely have a turnaround time of
reduction in staffing and costing to match the performance of ARCC, thus incentivizing the 6-8 years before the start of the effects of productivity. While more regional industry
management to perform or be let go as there is insufficient source of funds for incentives. But investments would see investment cycles of 3-4 years before the effect of productivity
should Investments and the Currency Reserve be properly managed, then the value of ARCC would start. The Currency Reserve’s performance would have the greatest effect on the
should be stable enough to provide ample operations expenses and incentive. trajectory of ARCC in the first 5 years of operations. As no profits are ever taken out of
the Currency Reserve, this provides the foundation towards stablecoin value.
Business set-up
12. Phase Two of the ARCC Token

Economy 2% Continuous Annual
Mint Figure 24: Total raise & ARCC minting schedule
In the next 7 years afterwards, ARCC PRE-SALE

20M RAISE
Stage 2 Annual Token Mint (7-year period) @ 2% Additional Supply 50% DISCOUNT
POST INITIAL TOKEN
RAISE
10% TOTAL ARCC MINTED=
20% STAGE 1 CONTINUOUS
Management & TOTAL ARCC SOLD x 2
ARCC Social Proof MINT
Operations 20% ANNUAL ARCC MINT
of Work Allocation STAGE 2 CONTINUOUS
Pool 18 YEARS MINT
2% ANNUAL ARCC MINT
7 YEARS
70%
Currency
Reserve
We assume that the major regional infrastructure investments would be well under way
after 18 years, as well as a change in the political economy of the region. At this point the
2% additional supply would have no significant downward pressure on the ARCC price. The
network would continue to operate to maintain transparency, but the Currency Reserve would
be focused on developing a model to fully maintain a pegged value. At this point, ARCC would
pivot from a micro-asset to truly a market reserve currency that would operate as hedge
against the existing market as it would completely reliant upon the Currency Reserves total
holding and adoption in the market.
Post 7-year period we would assume that with the now capped supply, ARCC would be able
to maintain its value as a true store of value.
ARCC PUBLIC SALE
20M SOFT CAP RAISE
20%-5% DISCOUNT
Business set-up
04
13. S
ocial Proof of Work Network App
Functionality
As this is a pure cryptocurrency play, much of the development is similar to a cryptocurrency

exchange in terms of mixed development of our App and wallet. Our objective is to replace
development with blockchain alternatives as they become feasible. In our proposed
decentralized development approach, the priority for transition is in regard to the user’s identity
as a decentralized anonymous non-information holding participant in the socio-economic
PRODUCT DEVELOPMENT surveys and the basis for the social proof of work mining algorithm. Following is a list of
functionalities for the Social Proof of Work App, followed by the proposed Ethereum based
ARCC SOCIAL PROOF development plan.
OF WORK 13.1 Regional ID & Advance Wallet

Only users in the designated emerging markets will be able to use the ARCC APP. Users will be
prompted to create a Regional ID via the ‘ARCC APP’. The validation document for this regional ID
will be a national ID card, Passport, or other form of recognized ID such as a Driver’s License.
13. Social Proof of Work Network App Functionality 41
14. Initial Token Launch Airdrop Via Traditional Mass Media 43 The Regional ID will provide a virtual identity card as well as be linked to an ARCC wallet. The
15. Future Social Proof of Work Network Use Cases 43 wallet will hold and track the ARCC earned through the site.
16. Blockchain Audit Functionality of Transactions and Balance via zkLedger 44

Users will be able to use their ARCC within the site and any ARCC earned that has been vested
17. Anonymous Id for Survey Data 44 will be free to transfer to an exchange or cold storage.
18. Centralized Technical Development Overview 45
19. ARCC Decentralized Development Technical Brief 48 13.2 ARCC ‘Social Proof of Work’ Mining Mechanism
Users will earn ARCC via the ‘Social proof of work’ mining mechanism. There will be initially 4
types of surveys possible: (a) general, (b) user initiated, (c) user validated and (d) utility upload.
The general surveys will be created by ARCC and users will be given a daily questionnaire
with regard to socio-economic issues regarding utilities, welfare and supporting infrastructure
(transportation, healthcare, etc.) as well as initial demographic information. The demographic
information gained will be hashed into a specific code to reference the demographic type, and
the detailed information will not be held. The demographic information will be used for targeted
surveys appropriate to that demographic range, i.e. questions such on work or education, etc.
Business set-up
The user-initiated surveys will be location based, whereby users can report on a number 13.4 Socio-Economic Prize Sponsorship
of issues such as overcrowding, extortion, wait times, construction, number of lights, The Annual Airdrop amount may choose to allocate up to 5% of its total allocation to act
number of brownouts, etc. This will start to create an outline of problem areas. as sponsorship for Socio-Economic Event Prizes (e.g. community events and educational
scholarships). This allocation will be decided upon by surveys from the communities in
User validated surveys will push a notice to users who are in the same location to nominating and deciding such an allocation.
confirm their own observations and make a judgement on whether or not certain
statements are true. This can add data to existing points of inefficiencies or invalidate Users may make contributions from their unvested ARCC to the event as prizes.
the initial survey results.
13.5 Entrepreneurial Grants
Users will earn ARCC on a per question basis with weighting determined on a per The Annual Investment amount may choose to allocate up to 5% of its total allocation
question basis, and the amount of ARCC will change relative to demand and the as sponsorship for Entrepreneurial grants that directly affect the communities through
remaining pool of ARCC. There will be an algorithm that will determine the ARCC educational or business initiatives. This allocation will be decided upon by surveys from the
allocation based on frequency, value and remaining pool. The value will be set for a 24- communities in nominating and deciding such an allocation.
hour period.
Users may make contributions from their unvested ARCC to the grants.
Embedded in all survey questions will be basic validation questions such as simple
arithmetic and factual questions such as: ‘3 x 2=__’ or ‘Is the sky blue?’ to prevent
users from simply randomly answering questions. Users that fail these validation 13.6 Asset Management Platform
questions will be suspended from the site for X amount of time until they are indefinitely A second phase objective will be to create an asset management platform within the
suspended, as their participation would add no value. ARCC APP platform. The function of the asset management platform will be to provide
investment projects that users can invest their vested or non-vested ARCC. Only ARCC
In the case of aggregating energy and telecommunication data, users will be able to also earned on the platform from either Social Proof of Work mining or from the gains made by
upload their monthly bills and simply redact their personal information. participating in the asset management platform will be allowed to be used for investments.
13.2.1: Mining Daily Promotions

To jump start the interest in the social mining process (should the idea of
cryptocurrencies require further education or if the adoption rate is slow), typical daily
prize promotions, such a daily lucky draw for 3 users of a smart phone or prepaid phone
credits, will be programmed and made available as a functionality in the network if
required.
13.3 Phase 2: Additional Mining Options

ARCC mined via participation and hosting socio-economic events such as educational
initiatives to regional events such as e-sports.
A second phase of mining will be launched that will be more involved and will include
earning ARCC for certain tasks or attendance, such as getting a vaccination or attending
an educational seminar. ARCC would be awarded once the user is validated by the
host on site. ARCC will also be earned by supporting local community events such as
sporting or e-sporting events.
Business set-up
13.7 ARCC Social Impact Staking Community Program

A direct local social impact community innovation by ARCC, will be the ARCC Social Impact
Staking Community Program (Social Impact Staking). Similar to a ‘GoFundMe’ page, people
can put up any Social Impact projects they would like and will have the ability to promote Figure 25: ARCC Social Impact Staking Project Platform
to those in the Social Proof of Work network. Social Impact Staking projects can only be set
up for the building of community infrastructure for business, health or education, and not to
USER PROCESS
1
individuals.
User, Initiates a community
All Social Impact Staking causes will be listed on either a regional or local country list. Each infrastructure support project (new
2
school, water supply, road, bridge,
social impact staking cause will require the user to ‘stake’ a number of their ARCC (earned communal boats, etc).
only through Social Proof of Work vested or non-vested) up to a maximum of 50% of their User Inputs the:
l Total funding goal
total balance. The total number of staked ARCC will determine the ranking of the Social l What type of community
infrastructure project?
Impact Staking cause on the list. l Expected Benefit
l Funding (as an individual or team)
l Total number of ARCC staked for
From the total ARCC staked for the ranking, the user will commit x number of ARCC to be Ranking
l Total number of ARCC committed
3
contributed to that Social Impact Staking cause should that cause hit its goal.
to funding (from total staked for
ranking)
User’s Project will be automatically l Regional List or Country List
What this duel staking format does is allow for those passionate about certain projects
listed and ranked on the respective
to commit their ARCC to ensuring that it gets enough coverage. This also makes the user country list.
committed to the project as their own ARCC will be used to stake the project’s ranking. The
second aspect is that the ARCC will be held until the project either is funded or the limit
of the campaign is hit. So should the Social Impact Project be highly staked for ranking but
4 The user will be able to provide
pictures, updates and answer
5
backed by little actual commitment, then the ARCC will simply be held in the campaign. questions for their project as soon as it
ranked. These updates will be on the
If successfully funded, then it will respective project page.
This model does two things: it reduces the possible spamming of projects and forces the go through a 14 day review and
user to commit to a few solid projects, while also forcing the initiator to also put their validation by IBMR, as to: did the
project meet the community project
money where their intentions are. Additional funders contributing to the project will also guidelines, are the contact people
6
have the same options, so they may wish to use their ARCC to increase the ranking of the real and in the region, in what
currency should ARCC be distributed
project, but only commit a small percentage of actual ARCC to the project. in, and are there any legal violations
for the project? Any project that fails the criteria, will
have 14 days to correct any issues,
Successful Social Impact Staking causes will receive an additional 10% from ARCC, up to the unless it has violated the basic premise
for the project funding criteria, i.e.
allotted annual pool for available for such projects under the category for ‘annual airdrops’.
7
going to individuals etc. After the 14
Successful Social Impact Staking causes that close after the annual pool is depleted will days, the funds will be released on a
tranche schedule with an additional
not be able to get the additional 10% bonus. Project that do not meet the funding
10% from ARCC if available.
goal by the time allotted will be
terminated, but still recorded in
Additionally, a budget, contact details and photo journal (available through the platform) will the system and all ARCC will be
returned to the wallets of the users.
be required for the release of funds on a tranche basis.
8
Once initiated the project cannot
be terminated early until after 50%
of the total fund raising period has
passed. The user will then need to simply
upload photos to a photo journal to
show the progress of the project. Other
users in the region will be able to verify
if this project is actually underway as
is (and earn ARCC). Upon verification by
other users, the next tranche of funds
will be released.
Business set-up
14. Initial Token Launch Airdrop Via 15. F

uture Social Proof of Work
Traditional Mass Media Network Use Cases
15.1 Basic Insurance Based on ARCC Holdings
12.5% of the total token minted will be given out as an initial airdrop.
A primary objective for ARCC is to work with a major insurance company to provide basic
health, property, and life insurance to users that opt-in. The objective would be to leverage
The allocation amount of ARCC will be based on a calculation of per capital income,
the total ‘micro asset’ network’s value in ARCC or that of the Currency Reserve to provide this
population and income disparity. Thus, each market will have its own pool of ARCC for
future service. This will depend entirely upon the success and growth of the network and the
the initial airdrop. The allocation formula will be determined as where the per capital
stable value of ARCC in the future.
income is lowest, the population the highest and the income disparity the greatest.
15.2 Peer-To-Peer Investment Platform

The amount will be calculated to give the maximum amount of people the maximum
A third phase objective would be to create a peer-to-peer investment platform whereby users
ARCC at a value that would be a significant asset if held over a period of five years.
can invest into other micro-entrepreneurs with all transactions locked into a smart contract.
This will require an estimation of growth of the value of the ARCC Coin, but the initial
This would not be a peer-to-peer lending platform but peer-to-peer equity investments.
objective is to give at least $25 USD equivalent of ARCC to each participant 3 months
Projects will need to be vetted by both the community as well as an ARCC investment
after ARCC begins trading on the exchanges.
committee to reduce fraud and provide clear guidelines for management and investment. Only
ARCC APP participants can propose projects.
Distribution will be on a ‘first come, first served’ basis and will not discriminate on
existing income but will have a minimum and maximum age requirement. The program
15.3 Charity Donation Platform
will be launched by full page advertisements in national newspapers and will run until all
Alongside the peer-to-peer investment platform would be another third phase objective of
the ARCC are allotted. All free ARCC will be on a vesting schedule on those coins issued.
setting up standing charity donations. Specifically, fundraising for orphanages. These would be
long-term relationships and look to help cover operational funds as well as funds for children
Example of Vesting Schedule for Free Mass Distributed ARCC:
who graduate from these orphanages.
3-Year mass distribution vesting schedule
YEAR 1 YEAR 2 YEAR 3
20% to be vested after

20% vested 60% vested
6 months from issuance
Business set-up
16. Blockchain Audit Functionality Distributed ledgers (e.g. blockchains) enable financial institutions to
efficiently reconcile cross-organization transactions. For example,
of Transactions and Balance Via banks might use a distributed ledger as a settlement log for digital
assets. Unfortunately, these ledgers are either entirely public to all
zkLedger participants, revealing sensitive strategy and trading information, or

are private but do not support third-party auditing without revealing
the contents of transactions to the auditor. Auditing and financial
oversight are critical to proving institutions are complying with
regulation.
ARCC will incorporate the zkLedger project to create a blockchain public audit system
which will be able to show in real time the balances of all the investments and reserve
zkLedger is the first system to protect ledger participants’ privacy
currency holdings. This will be done to provide transparency for the total underlying
and provide fast, provably correct auditing. Banks create digital
assets as well as the number of transactions occurring in the APP and number of active
asset transactions that are visible only to the organizations party
users.
to the transaction but are publicly verifiable. An auditor sends
queries to banks, for example ‘What is the outstanding amount of
The nature of the transactions and the type of trading data will be held private to
a certain digital asset on your balance sheet?’ and gets a response
prevent front running and malicious planning against the actions of the Currency
and cryptographic assurance that the response is correct. zkLedger
Reserve and its investment thesis. The zkLedger, which has been developed by the
has two important benefits over previous work. First, zkLedger
Digital Currency Initiative of the MIT Media Lab, is a blockchain technology to provide
provides fast, rich auditing with a new proof scheme using Schnorr-
both transparency and security.
type non-interactive zero-knowledge proofs. Unlike zk-SNARKs, our
techniques do not require trusted setup and only rely on widely-
used cryptographic assumptions. Second, zkLedger provides
completeness; it uses a columnar ledger construction so that banks
cannot hide transactions from the auditor, and participants can use
rolling caches to produce and verify answers quickly. We implement
a distributed version of zkLedger that can produce provably correct
answers to auditor queries on a ledger with a hundred thousand
transactions in less than 10 milliseconds.
17. Anonymous ID for Survey Data
The users’ identities, when completing the socio-economic surveys, will be maintained
and protected through an anonymous system where the user will be given a temporary
random ID for completing the survey data; the results of that data cannot be tied back
to the user.
The first solution will use a centralized process, but the objective would be to launch
a decentralized blockchain platform which is scalable enough to place the data on the
blockchain through anonymous IDs. The anonymous IDs are qualified by the regional
IDs and the data results will also include the demographic information (as a range) and
time and location stamp of the data, but will not be tied directly to the regional ID.
Business set-up
18. Centralized Technical

18.2 Funcionality list
Development Overview
PHASE 3
The following is a technical overview of the centralized APP development. The technical PHASE 1 PHASE 2
Post-IEO
white paper on the set-up for the anonymous ID and survey system is discussed in the
following section and is based on building upon the Ethereum Blockchain APP – Wallet
APP – Gamified Survey
18.1 Staffing
APP – Visualize
APP – Asset Management Platform
APP – P2P Investment, Grants & Charity

PHASE 1 PHASE 2 PHASE 3
# of Dev Months # of Dev Months # of Dev Months
[Junior Level Team] FEATURE – Regional ID with Recovery System

HR – App Developer (ReactNative)
HR – UI/UX Designer FEATURE – Link Wallet to Blockchain
HR – Backend (Go + Cassandra)

FEATURE – Backend – Create Survey Semi-Automatically
FEATURE – Backend – Log, Dispatch, and Mint Token For Survey

[Senior Level Team]
HR – App Developer (ReactNative) FEATURE – Backend – Visualization

HR – UI/UX Designer
HR – Backend (Go + Cassandra) FEATURE – Backend – ID Management
FEATURE – Backend – Transaction
[All-Star Level Team]

FEATURE – Backend – Security Management
HR – Full Stack Developer (ReactNative + Go)
HR – UI/UX Designer FEATURE – Backend – Monetary Reserve Management (Stablecoin)
FEATURE – Backend – Link to Fiat/Crypto Exchange
FEATURE – Backend – News Publishing
Business set-up
Figure 28: ARCC social proof of work network functionality map
18.3 Technical Road Map

Registration on Registration for Regional ID
REGIONAL ID
IBMR. io Regional ID Created
Uploads National ID Documents for verification

Southeast
Asia citizens
2 Months from End
of Pre-Sale Period
& residents
Phase 1:
VIRTUAL ID
Logs on
APP Launch for ARCC:IBMR.io via
Creates VIRTUAL ID CARD
both iOS & Android VIRTUAL ID CARD Unique Regional ID number & QR CODE
Regional ID
LInks Social Media, Uploads photos directly from Social Media
ARCC WALLET
ARCC WALLET ARCC Balance Vesting% Vesting Balance Available
Balance
4 Months from Phase 1
Initial ARCC Disbursement ARCC Disbursement

Vesting Period
ASSET MANAGEMENT
ARCC PRIVATE
Phase 2: PLACEMENT
INVESTMENTS
View Projects Invest with ARCC
Visual Map of Sell Private Placement

‘Circles of Inefficiencies’ Acquire Private
Shares back to IBMR
Placement Shares
(ARCC Returned)
SOCIAL SOCIO-ECONOMIC EVENTS TO

VOTING SURVEYS PARTICPATE
IBMR Social Proof of Work Network

6 Months from Phase 2
Create View Create View Create View

Vote Votes Survey Surveys Event Events
Phase 3: Complete
Vote
Complete
Survey
Attend
Event
Additional P2P
investment and use cases *Verified*
*Verified* *Verified*
Vote Reviewer Survey Reviewer Event Organizer
*IP, time and *IP, time and *IP, time and
response quality response quality response quality
ARCC
Issued
OTHER SERVICES
INSURANCE SERVICES EDUCATION CHARITY / LOTTERY

-Tourism, languages, programming,
financial, business, trades
82 www.ibmr.io
Business set-up
19.2 Functions & Use Cases

19. ARCC Decentralized 19.2.1 IBMR.io Regional ID
Development Technical Brief Certain emerging markets do not have any national ID or standard ID other than an
international passport. Most ASEAN countries do have a national ID, but documentation
for property and family registries are often incomplete or non-existent.38 A regional
ID can serve as a secondary universal ID that can be used for commerce and non-
governmental ID verification.39 As a national ID is the responsibility of each state,
a regional ID on IBMR.io serves multiple functions such as validating individuals to
19.1 Introduction have access on the ARCC APP and access to their ARCC wallet. Ultimately, as usage
The International Blockchain Monetary Reserve, IBMR.io, is focused on creating a new increases in the region, the IBMR.io regional ID can be used in commerce across the
economic reality for emerging markets through the use of cryptocurrency as a ‘regional Southeast Asia region as a mobile or online wallet.
crypto-reserve currency’. IBMR.io believes that social impact of cryptocurrencies on
the global financial structures will be revolutionary, and that we are entering into a To acquire the IBMR.io Regional ID, users will be asked to provide their passport for the
new paradigm of global economic understanding. Critical for IBMR.io is that emerging ID issuance and a local mobile phone number for verification. This is the minimum
markets are not left out of this revolution, but are, at this time, able to participate and requirement as the focus is for the participation on the platform and users must be
join the new economic age as equal participants. able to exhibit this minimum standard. This information will only be used to verify and
will not be held by IBMR.io.
On a technical basis, the ‘IBMR.io regional crypto-reserve currency economic
development model’ is focused on supporting a newly issued Asia Reserve Currency 19.2.2 Survey Platform
Coin, ARCC, for the emerging markets in Southeast Asia through a Social Proof of Work Many emerging markets’ channels for mass education and news are focused on
network whereby individuals can ‘mine/earn’ ARCC for their participation in socio- entertainment or local news trends. Also, due to a lack of clear channels for mass
economic surveys to create a network of Radical Transparency and the largest ‘micro advocacy, it is difficult to gauge or create awareness of ongoing socio-economic issues.
assets’ in emerging markets. We refer to the platform as the ‘ARCC APP’. The act of participation through completion of socio-economic surveys on the platform
will, at times, require that users read international public review-based summaries
The ARCC APP platform is composed of 3 major areas: Regional ID, Survey participation before participation. This provides an increased amount of awareness as well as
and Social Proof of Work network. The technical mandate will be to put security increase the depth of participation. While this may not be a true ‘as is’ survey of the
and scaling as the top two priorities. Security in this case also means giving users socio-economic environment, the purpose is for economic development as the macro
a trustless environment for participation, as such, our focus is to use as much as status quo for the last 20 years is quite evident.
possible existing open source blockchain developments. In terms of scaling issues,
like many exchanges, the wallet function and internal transactions will be based on Key to participation is to provide a secure and anonymous platform for socio-economic
current centralized fintech development, i.e. Bitcoin/Ether are cryptocurrencies, but the survey participation. As such, the IBMR.io Regional ID qualifies the users, but we will
exchanges that trade them are not. But as there is further progress in scaling, the IBMR. use a decentralized ID system so that the user is actually qualified to participate.
io ARCC network will evolve to a fully decentralized system.
The ARCC will be issued as an ERC20 Token on the Ethereum blockchain and any of the 19.2.3 Social Proof of Work Mechanism
decentralized developments will be on the Ethereum blockchain. ARCC APP is part of the overall model for economic development in Southeast Asia
through the issuance of the crypto-reserve currency, ARCC (Asia Reserve Currency
https://asia.nikkei.com/Politics-Economy/Economy/Southeast-Asia-is-world-s-hotspot-for-land-disputes-report?page=2 ; http://www.
38
philstar.com/headlines/2017/06/17/1710795/government-set-implement-national-id
39
https://www.adb.org/sites/default/files/publication/211556/identity-development-asia-pacific.pdf
Business set-up
Coin). As such, adoption, distribution and usage of the ARCC by those in Southeast Asia social media platforms, credit rating agencies and government identity registries.
is critical for the model to work. The two major functions of the platform are the ID and Hackers would need to put in the effort to hack accounts one by one, as opposed to
the Voting/Surveys, but the issue of incentives for participation is solved by the IBMR.io hacking the central store of data once.
Social Proof of Work model.
The architecture of uPort,43 partially depicted in Figure 1, allows for the user to recover
Social Poof of Work was a concept first brought up by Matthew Slater 40
in looking at control of their identity, in case of a lost device, and allows for upgrading of functionality
other ways money could be earned through a common network. While his own work when needed. This is achieved by having a couple of layers between the user device
has moved towards a ‘commons’ concept of credit and community,41 currently, there are (e.g. mobile phone) and the application the user is interacting with (e.g. an Ethereum
a number of projects that are under the Social Proof of Work umbrella.42 smart contract controlling the release of vested ARCC). The private key of the user is
contained on the user’s phone. When the user interacts with an Ethereum application,
On the network Participants will have the ability to: the uPort application on the user’s phone issues the transaction through a controller
(i) create socio-economic surveys and events; contract which then sends the transaction through a proxy contract. The controller
(ii) participate in those votes, surveys and events; contract holds the business logic, including the logic to recover a user’s account in
(iii) validate the participation as non-fraudulent. case of a lost phone. The proxy contract represents the user’s identity, has very simple
logic and is meant to persist and be the reference to which all identity information is
If we consider the participant as a ‘Node’ on the network, then these three actions will connected. To allow account recovery in case of a lost phone, the controller contract
‘mine’ ARCC through the act of creation or participation (i.e. the Proof of Social Work) lets the user assign recovery delegates, e.g. a trusted friend or family member and IBMR.
and then this act of creation or participation will be validated by other participants (i.e. io. When a user loses their phone, these trusted recovery delegates can then change
‘validators’). the ownership of the controller contract to the user’s private keys on their new phone.
Similarly, when updates to the controller contract are made, the user can transfer
The total number of ARCC will be allocated at the beginning of each year and will be ownership of the proxy contract to the new controller contract.
issued on a formula of: (i) ARCC current market value, (ii) Number of participants (miners
and verifiers), (iii) Number of transactions and (iv) Number of remaining ARCC for the
year. The ‘difficulty’ of the network will either increase or decrease on a weekly basis Ethereum blockchain
based on the value of the preceding week. The difficultly will ultimately either increase
or decrease the number of ARCC issued per completed participation (transaction).

19.3 Architecture Controller Proxy Application
Contract Contract Contract
19.3.1 IBMR.io REGIONAL ID
IBMR.io ARCC APP will integrate with a third-party, self-sovereign identity platform
such as uPort. Self-sovereign means that an identity is fully owned and controlled
by its creator and does not rely on centralized third-parties for creation or validation.
uPort allows user identity data to be stored off of the blockchain and to be
This gives the citizen control over their own identity data and decentralizes storage of
cryptographically bound to the user’s identity. The linkage between the user identity
identity information. By decentralizing the storage of identity data, it makes hacking the
and user data stored off chain, e.g. on IPFS, is established by the uPort Registry
system less economically valuable than centralized stores of identity such as existing
contract. See Figure 2.
http://matslats.net/social-proof-of-work
40
41
http://creditcommons.net/credit-commons-wp-screen.pdf
42
https://bitcoinmagazine.com/articles/d-cent-launch-blockchain-based-digital-social-currencies-e1-9-million-funding-european-
commission-1434139406/ uPort whitepaper https://whitepaper.uport.me/uPort_whitepaper_DRAFT20170221.pdf
43
Business set-up
19.3.2 IBMR.io Social Proof of Work Platform, i.e. Mobile App

Profile data
IBMR.io will run a Social Proof of Work platform where citizens can log in with their
JSON file with
USER A Controller Proxy Contract uPort Registry profile data. decentralized identity and view and manage their ARCC balance. Mass distributions
Contract Address: Signing pubkey
uPortID: 0xa0b13f72 0xa0b13f72 The uPort Registry is
of ARCC to citizens will happen through this platform. Citizens will be able to view
• maintains access a global registry with
control & key a well-known, trusted
Signing privkey
recovery logic
• purpose is
to mantain address. Used for what percentage of their ARCC has vested and will be able to allocate ARCC to specific
a persistent looking up public keys
• fowards msgs
identifier address and attributes of uPort projects backed by the IBMR.io. The citizens of Southeast Asia will be able to send their
to proxy identities.
vested ARCC off the ARCC APP to their own wallet or an exchange where they can be
Registry entry:
0xa0b13f72
Profile data traded for other crypto or fiat currencies.
Attributes/Attestations (hash)
JSON file with
USER B Registry entry:
profile data.
uPortID: 0xf7a96488 Controller Proxy Contract 0xf7a96488 Signing pubkey 19.3.3 Socio-Economic Survey Platform
Address:
Contract Attributes/Attestations (hash)
The IBMR.io network will include a platform for citizens to engage in social voting
Signing privkey 0xf7a96488
and economic surveys and get rewarded for their participation. IBMR.io will initially
develop an off-chain solution which integrates with on-chain uPort identities in order
IBMR.io will verify citizenship within Southeast Asia utilizing a trained review team and an to administer voting and surveys. The voting application will interface with each
‘identity as a service’ platform such as Jumio. IBMR.io will link citizenship verification to user’s uPort identity to check their validity and collect non-identifying demographic
citizens’ blockchain based self-sovereign identity, and this will act as their Regional ID. The information. Once a vote or survey form has been submitted, the user’s ID will be
citizen’s self-sovereign identity allows them to digitally sign a claim or action. Citizens can added to a private list to prevent multiple submissions but their submission itself and
use their regional ID to log in to the IBMR.io ARCC APP and receive their allotment of ARCC demographic data will be stored separately from their uPort ID to ensure privacy.
distribution and allocate ARCC to Peer-to-Peer investments.
IBMR.io will set aside ARCC to be used as an incentive to participate in the socio-
Citizens will also be able to use their Regional ID to participate in socio-economic surveys and economic surveys conducted by IBMR.io. Once a survey is complete, the application
earn more ARCC. For each use case, the citizen only needs to reveal the parts of their identity will publish the results to the Ethereum blockchain and distribute rewards to
required to participate and can keep the rest private, as only demographic information would participants.
need to be revealed while the citizen’s true identity remains unknown.
Citizens create Identities with IBMR

1 a uPort Identity 6 certificate can be
whitelisted
User User Participants claim ARCC Coins

On-chain
Citizens uPort ID
whitelist
Citizen provides
2 document to verify
citizenship
IBMR
User User Network
Submit votes signed
with private keys
Identity
as a Service Publish survey and
Provider Citizens provide IBMR certification social voting results
(Jumio) 2 uPort ID to IBMR 5 added to uPort
identities
and participant rewards
IBMR.io
survey
On-chain Verify valid votes application
3 Verified citizen
info
whitelist
IBMR
IBMR
Network
Onboard citizen to
4 the IBMR Network
Whitepaper
IBMR.io recognizes this method of survey administration requires trust in the off-chain
application but will aim to work to replace the centralized system with a decentralized
trustless system. IBMR.io will monitor the development of private blockchain voting
technology and, when it becomes both technically and economically feasible, will
migrate to using a trustless private voting solution. Interesting research is currently
being done in this space by the Open Vote Network; however, the solution currently has
a low maximum number of participants limited by the Ethereum gas limit.44
5,000,000 Gas Limit

4,500,000 Compute Reconstructed Keys
4,000,000
Set Voters as Eligible
3,500,000
Compute Tally
3,000,000
Begin Registration
Gas
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
5 10 15 20 25 30 35 40 45 50 55 60
Number of voters
19.3.4 IBMR.io ‘Social Proof of Work’ in Blockchain Development

Once the voting and survey administration are done by a decentralized application,
distribution of the ARCC rewards can be completely automated. A portion of the ARCC
minted by the inflation mechanism will be allocated to the voting and survey platform.
IBMR.io can set up new socio-economic votes and surveys along with incentive
structures for participating and sharing personal information. The decentralized
application will make rewards automatically redeemable to participants, with no action
required by IBMR.io, creating a completely trustless, incentivized and private survey
platform.
A Smart Contract for Boardroom Voting with Maximum Voter Privacy https://eprint.iacr.org/2017/110.pdf
44
90 www.ibmr.io
Business set-up
05
IBMR.IO BUSINESS
20. Organizational Structure
IBMR.io Think Tank Advisory

New York, NY
IBMR.io
Fund & Holdings
Singapore
ARCC Software Development

Taipei, Taiwan
• Currency Reserve
• Regional Investments
• Software Platform
AUDIT
• zkLedger
SET-UP
• PwC
20.1 Social impact fund holding structure

For ARCC, IBMR.io will acquire all related fund and asset management licenses and structures
in Singapore for the currency reserve, investment management and Software IP. IBMR.io is
already registered in Singapore as a technology provider. As our main product is ARCC as a
20. Organizational Structure 54
cryptocurrency, we are currently within the regulatory framework of the jurisdiction of Singapore.
21. ARCC Audit 54
22. ARCC Governance 55 The process for acquiring all the related fund and asset management licenses will be an ongoing
23. Executive Management 55 process which could take up to 24 months. The set-up will begin after the end of the token pre-
sale.
24. Executive Advisors 56
25. Partners 57
20.2 Technical development team
26. Risks 57 The technical development team will be based in Taipei, Taiwan. The development team will be
27. Future Platform Development 60 composed of 15 programmers for the initial launch of the APP.
26. Concluding Remarks 61

20.3 Think tank & advisory
Privately led research in sovereign backed cryptocurrency, stable coins and crypto-reserve
currencies and social impact applications.
ARCC, under IBMR.io, will have a research team focused on decentralized economic monetary
structures, innovations, applications and its social impact. This advisory team will be based in
New York, NY. Operational Management funds will be used to fund this IBMR.io research and
advisory branch.
Business set-up
21. ARCC Audit 23. Executive Management

IBMR.io’s operations will be annually audited by one of the Big 4 global accounting The executive management team is as follows:
firms and will routinely rotate its auditor every 3 years and make the audit publicly
available. David Sinjin Jung,
Founder and Managing Director
The ARCC Reserve will integrate zkLedger as an open blockchain platform for
transparency and audit of ARCC’s daily total holdings, inflow and outflow of the David founded one of the leading fintech firms in the Philippines, licensed under the Central
reserve. ARCC will also request/retain the DCI of MIT’s Media Lab (the developers of Bank of the Philippines (BSP) and is part of the largest fintech network in Southeast Asia,
zkLedger) for an annual technical audit of the integration and process. True Money. He has been a chief strategist and negotiator for over six years in Southeast
Asia for infrastructure and gaming projects with a focus on regulation and operational set-up.
IBMR.io will hold online quarterly investment presentations. He was the Regional Director of Asia for the world’s largest poker game company and was
the primary marketing and regulatory force for the game’s introduction across the whole of
Asia. His professional background includes: being a former senior management consultant
at PricewaterhouseCoopers in Korea and a Korean government senior industry technology
22. ARCC Governance

analyst. He has his MA in International Business from Korea University and is a Harvard
Kennedy School EE alumnus in Economic Development.
David’s responsibilities include the long-term strategy and negotiation with national level
IBMR.io in being structured as social impact investment fund, the main issue of
networks for the adoption of ARCC. His main foci will assure that ARCC is compliant with
accountability is dealt with as a matter of incentive as the incentive is completely tied
existing regulations and overall growth of the business. He is also the head of the research
to performance (even more so than a typical hedge fund) due to the reasons stated
and advisory division.
under the ‘ARCC Management Fees’ section.
Transparency is provided for on a corporate and managerial level through annual audits
Stanley K. Kwok,
and daily public auditing tools as described under Audits.
Co-Founder and Executive Director
As a pure cryptocurrency play, holding ARCC provides no rights or privileges to the

Stanley is the co-founder of Red Group, a family office headquartered in Beijing, China. With
user. ARCC, once vested or bought on a secondary exchange, is under no centralized
years of international investment and operational experience, he believes that innovation and
authority for possession, transaction and transfer. But earning/mining ARCC through
technology are the true driving forces toward the overall improvement of society. Stanley has
the Social Proof of Work network will allow the user the right to mobilize that ARCC
an extensive global business network and has been actively involved in a variety of industries,
within the asset management functionality of the network as they see fit. Users that
including bioscience, agriculture, mobile internet and finance over the past 20 years. He
earn/mine through ‘Social Proof of Work’ will be on transparent schedules of vesting
graduated with a BSc in Accounting from Southern California University. He is also a graduate
and mining difficulties.
of the SEP of Stanford Graduate School of Business, Wharton School and Harvard Business
School.
Stanley’s responsibilities include the strategy and set up of the Currency Reserve, the
Investment criteria and selection for the ARCC Currency reserve structure.
Business set-up Whitepaper
Eric Tao
24. Executive Advisors

Media, IR & Marketing Executive
Eric Tao is a marketing executive with over 20 years’ experience in the technology, media and
advertising industries serving in a variety of roles covering strategy, creative development
Conroy Cheng,
and production. In 2004, he was signed as a Commercial Director by Radke Films in Toronto,
Senior Business Advisor
at the time the youngest signed Director in Canada. He has also served as an executive at
numerous global advertising agencies, technology, and media companies, most recently
Mr. Chi-Heng Cheng, also known as Conroy, is a passionate investor and visionary who strives
as the Director of Video at Food52. In 2015, he worked at Google on an internal marketing
to improve the human lifestyle experience. With his unlimited inspiration and boundless
innovation team created to explore new ways in which technology can help build brands in
passion in every investment and endeavor, Conroy consistently releases his vision in every
a digital world. He is a graduate of the MFA program at the Art Center College of Design in
aspect of life. Through his extensive international social and business network, Conroy
Pasadena, CA.
strives to help his partner companies to expand at light speed.
Eric’s responsibilities include the set-up and management of IBMR.io’s on Marketing/PR

Since July 26, 2011, Conroy has served as the Executive Director at Chow Tai Fook Jewellery
operations and investor community relations.
Group Limited. He is also Director of Chow Tai Fook Enterprises Limited. He has been an
Executive Director for New World Development Company Limited since June 2010. He has
Joel Malasaga, CPA Geraldine M. Diaz been a Director of Boston Therapeutics, Inc. since December 4, 2013. Mr. Cheng served as
Executive Office Financial Officer Executive Office Administrator an Interim Chief Financial Officer of Boston Therapeutics, Inc. from March 16, 2016 to August
12, 2016 and served as its Interim Chief Executive Officer since March 16, 2016. He served as
Joel Malasaga, is a Certified Public Ac- Geraldine is a business Non-Executive Director of China Huishan Dairy Holdings Company Limited until June 23, 2015.
countant in the Philippines and recei- administration BA graduate from He served as an Independent Non-executive Director of Hong Kong Energy Holdings Limited
ved his professional license in 2010. He the Polytechnic University of the (alternate name JIC Technology Co. Ltd. & China Renewable Energy Investment Limited) from
graduated with a Bachelor of Science in Philippines. She has 16 years of July 02, 2002 to May 11, 2007. He received a Bachelor of Arts degree majoring in Economics
Accountancy – Cum Laude, from Saint professional business experience from the University of Western Ontario, Ontario, Canada in 1999.
Joseph College in Maasin City, in 2009. in the area of retail banking
With 8 years of professional experience, (PS Bank), HR management,
Conroy’s responsibilities include the representation of ARCC with major regional industry
he is an experienced internal auditor in recruitment and backend
partners and projects.
the core business segments of distribu- administration management (JAKA
tion, logistics, natural resources, property, Investments Corporate networked
security and corporate investment with firm).
JAKA Investment Corporation. He is also Morgan Potter,
experienced as a Senior Financial Officer Geraldine’s duties include the Trade and Currency Reserve Advisor
in preparing investor relations and audit registration and administration of
presentations. IBMR.io’s corporate structure and Morgan is the co-founder and managing director of Nine Mile Financial, an electronic principal
executive administration. trading firm, focused on global market making and arbitrage opportunities. Morgan co-
Joel’s duties will be the organization and founded Nine Mile Financial in 2016, after 16 years with Macquarie Group (Sydney, Hong Kong
management of auditing the investments & New York) and Goldman Sachs (Australia). Most recently based in New York and Hong Kong
and reserve currency data reporting for with Macquarie as Global Head of ETF Trading, Morgan has held several senior roles during
IBMR.io and ARCC. his tenure; responsible for Convertible Bonds, Structured Products, Listed Derivatives & Cash
Risk Trading since joining Goldman Sachs (Australia) in 2001. Morgan holds a Bachelor of
Structural Engineering (BEng) degree from the University of New South Wales, Australia.
Morgan’s responsibility includes the strategy and ongoing advisory of the Reserve.
25. Partners
Mark Mu-Chi Sung,
Executive Technical Advisor
Cobinhood
Mark Mu-Chi Sung is a serial technology entrepreneur. As one of the very first CUDA https://cobinhood.com/
programmers in Taiwan, he has been working in the GPU computing technology industry since
2006. In 2008, he founded his first company, Zillians, to foster GPU-accelerated cloud. Since Cobinhood is one of the world’s fastest growing crypto-exchanges known
then, he has been actively involved in GPU software development from parallel algorithm, GPU for its high-performance technology and newest industry trading features
virtualization to compiler design. He is a pioneer and considered one of the top AI specialists and promotions. It was the word’s first ‘zero fee trading’ crypto exchange
in Taiwan and one of the first GPU computational programmers in Asia. Before founding It has been growing 50% month on month for the past year and has listed
Zillians, he worked for IBM Almaden Research Center in Silicon Valley for their supercomputing some of the top new coins in 2018.
file system research project. He received both his M.S. and B.S. in Computer Science
from Chiao Tung University in Taiwan, and was invited as speaker for NetGames 2010, GPU ARCC is more than just another token listing on Cobinhood, but will
Technology Conference 2012. He is also a start-up tech graduate of Tim Draper University in be partnering with them on an operational level as well. As a partner,
Silicon Valley. Cobinhood will be listing ARCC as soon as the token sale is completed and
will be working hand-in-hand on the technical aspects of the token sale
Mark’s responsibilities include the strategy and set up of the development team for the ARCC itself.
APP and its blockchain functionality.
Cobinhood is a visionary company which wants to change the world

through blockchain technology and beyond its exchange Cobinhood has
Darius Yuen also launched it’s own coin, COB, as well is in development for its own
Social Impact Program Advisor blockchain DEXON.
Darius Yuen Lai Yan is a Hong Kong investment banker and philanthropist. He is the founder
and chairman of Sow (Asia) Foundation, a charity based in Hong Kong. Because of his
contribution to charitable causes, he was named one of 48 Heroes of Philanthropy by Forbes.
He was also one of the Men Of Hope 2017 Honorees (Champion for a Better Life). He serves as
Senior Advisor at LionRock Capital Limited (Hong Kong). Yuen is a Certified Public Accountant.
He holds a Bachelor of Science in Accounting from the University of Southern California.
Yuen was a former investment banker with BNP Paribas serving as Head of Equity Markets
from 1999 to 2007. He served as Senior Managing Director at Bear Stearns Asia in 2008. He
also served at Media Nation in 1998, at Peregrine Capital from 1994 to 1997, and at Price
Waterhouse from 1991 to 1993.
Darius’s responsibilities include providing advisory and feedback on IBMR.io on social impact
performance and direction of its programs.
Analysis:
• ARCC intends to raise funds to fund the platform.
26. Risks • ARCC will not have any other functions or rights attached to it.
• Users will not have any other functions or rights attached to it.
• ARCC earned on the platform will have rights to the platform usage, but
The following is a non-exhaustive list of risks associated with this project. For further ARCC bought on secondary exchanges will not.
clarification of other issues, please refer to the ARCC FAQ.
Remarks:
Jurisdictional Risks • ARCC Social Proof of Work network model would fall under case one, and
Singapore is a very progressive blockchain regulatory regime. As such they ARCC as a token used for access and mining would not be subject under
have presented case studies for consideration and legal reference. IBMR.io SFA or the FAA; this may extend to the Asset Management Network as the
is already registered as a software technology provider in Singapore and will tokens are earned for free on the platform, and only the free tokens are
apply for the necessary financial licenses to operate as a fund. eligible to be used in the Asset Management services.
• ARCC as a token functions as a pure cryptocurrency play, which by the
An analysis below of ARCC’s token model: guidance of this case study, is not subject to any requirement under the
http://www.mas.gov.sg/Regulations-and-Financial-Stability/Regulations- SFA or FAA.
Guidance-and-Licensing/Securities-Futures-and-Funds-Management/ • However, ARCC’s Currency Reserve, would fall under Case 4 and be subject
Guidelines/2017/A-Guide-to-Digital-Token-Offerings.aspx to requirements.
ARCC’s model would fall under aspects of case study 1 and case study 4. Case Study 4
Company D is a Singapore-incorporated company with operations in
Case Study 1 Singapore. It intends to offer digital tokens (‘Token D’) to members of the
Company A plans to set up a platform to enable sharing and rental of public, but the offering will not be accessible by persons in Singapore.
computing power amongst the users of the platform. Company D will pool the funds raised from the offer and use the funds to
Company A intends to offer digital tokens (‘Token A’) in Singapore to raise invest in a portfolio of shares in FinTech start-up companies.
funds to develop the platform. Company D will manage the portfolio of shares.
Token A will give token holders access rights to use Company A’s platform. Holders of Token D will not have any powers relating to the day-to-day
The token can be used to pay for renting computing power provided by other operations of Company D or the management of the portfolio of shares.
platform users. Profits arising from the portfolio of shares will also be pooled and
Token A will not have any other rights or functions attached to it. distributed as payments to holders of Token D. The purpose of this
Company A intends to offer Token A to any person globally, including in arrangement is to enable token holders to receive profits arising from the
Singapore. portfolio of shares.
Application of securities laws administered by MAS in respect of an offer of Application of securities laws administered by MAS in respect of an offer of
Token A Token D
• A holder of Token A will only have rights to access and use Company A’s • As the offer of Token D will only be made to persons based overseas (i.e.
platform, and the right to use Token A to pay for rental of computing power Token D will not be offered to any person in Singapore), Part XIII of the SFA
provided by other users. Token A will not provide its holder any other rights will not apply to the offer.
or functions attached to it. Hence, Token A will not constitute securities • Company D may nevertheless be carrying on the business of fund
under the SFA. management in Singapore if it operates the management of portfolio
• Company A’s offer of Token A will not be subject to any requirement under of shares in Singapore. If so, Company D will require a capital markets
the SFA or the FAA.

services license for carrying on business in fund management, unless

otherwise exempted.
• As no financial advisory service will be provided by Company D in respect
of Token D, the FAA will not apply in relation to the offer of Token D.
Audit Risks
For public blockchain transaction audit through zkLedger, IBMR.io will seek to work
Analysis:
directly with MIT’s DCI for the 3rd party implementation of the blockchain audits.
• IBMR.io will be pooling the funds raised from the offer and use the
For corporate audit risk, all business units will go through an annual audit with the
funds to invest in a portfolio of shares, start-ups and other regional
auditing firm being changed every 3 years.
infrastructural projects.
• IBMR.io will manage the portfolio of shares.
Crypto Storage Risks
• ARCC holders will not have any power related to the day-to-day
All ARCC for the Social Proof of Work network will be held in cold storage. Any vested
management of the portfolio of investments/shares.
ARCC will be released after 1 week from cold storage.
• Profits will not be pooled and distributed as payment to holders of ARCC.
All other ARCC will be kept in cold storage.
ARCC held on 3rd party exchanges as part of the Currency Reserve mechanism will be
Remarks:
held in no less than 3 separate business accounts with no more than 35% of the annual
• In light of being included in the exemption of Part XIII of the SFA, ARCC will
total held in one account.
not be offered for sale in Singapore and only be made available to persons
All hot wallets or exchange accounts will be no less than 3-person multi-signature
based overseas (i.e. not in or a resident/citizen of Singapore).
wallets.
• While profits will not be pooled and distributed to holders of ARCC, a
case can be made that holders are getting some type of financial profit
Currency Reserve Risk
from the appreciation of the coins, especially in the case of any burning
The currency reserve will be directly managed by Nine Mile Financial on a month-to-
of coins by ARCC. In this regard, we would err on the side that the profit
month basis. While this will limit our potential upside, it has the least amount of risk in
characteristic has some consideration for application, as such, case 4 and
case of a need to defend the ARCC price. The basket of currency composition will be
its requirements would be enacted in full and treated as if case 4 was fully
composed of fiat reserve currencies and a percentage between of cryptocurrencies not
applicable to IBMR.io.
to exceed 15% in the current model, that are within the top 5 cryptocurrencies.
• IBMR.io will apply for all required capital market service licenses in order
to carry out business in fund management.
Investment Risks
• No financial advisory service will be provided by IBMR.io, as such the FAA
The current management has direct experience with over 2.5B USD of assets and
will not apply in relation to the offer of ARCC.
investments under management. Investment risk will be minimized by investing in cash
positive established regional firms and joint government infrastructure projects.
Concluding Case & Jurisdictional Remarks:
IBMR.io as a multifaceted technology platform and social impact fund
Operational Risks
occupies two areas of regulatory consideration, but is well within the
Main operational risks revolve around compliance to fund licensing and reporting
jurisdictional perimeters for operation, licensing and regulatory compliance.
requirements. In terms of the initial token raise, certain markets such as Singapore will
ARCC is a cryptocurrency with no rights or profits attached. While the asset
be restricted from the sale.
management platform may not fall under a profit-sharing regime because
the access to the asset management platform is only accessible through
Political Risks
the acquisition of free ARCC earned on the platform, and while there is no
Operations are targeting a bottom-up approach and will seek to work with governments
direct profit sharing for ARCC coin holders, these areas are not definitive in
where possible to provide an alternative mandate than the economic elite mandate.
judgement, as such, IBMR.io will be fully compliant to the requirements set
As such, the focus is on corporate corruption and corruption that affects the urban
forth in Case 4; thus, IBMR.io will acquire the necessary fund management
working poor. IBMR.io will not be engaging, partnering, cooperating with any politically
licenses and eliminate the risk of noncompliance for these two aspects.
affiliated organization or group or which has any political agenda for operations.

27. Future Platform Development

Governance Risks
IBMR.io will run under the legal framework of Singapore and as such will also be
ARCC is the very first regional reserve currency aimed to redistribute the wealth
under the governance requirements of the MAS of Singapore. Any ARCC vested will
and advance economies with blockchain technologies. Should the network be
be under no central authority once outside the system. Unlike a foundation structure,
established, it is clear there will be a host of applications possible that will be able
there is no 3rd party trust risk, but unlike a DOA, there is the given centralized risk. As
to leverage this network.
compensation is completely tied to performance and the total initial compensation
is 2% of the raise and 2% of the initial coins, and this also covers management and
Technical speaking, the entire system is composed of the blockchain layer and, more
operational costs, the interests are aligned for high performance governance and
importantly, the user application layer to deliver the ultimate user experience for
management.
the general user without interacting with the complicated blockchain logic which is
running behind the scenes.
Market Speculation & Manipulation Risks
During the initial token raise, single account holders will be limited to 250,000 USD per
For the blockchain layer, the ARCC blockchain will serve as the decentralized
buy per day to allow for a wider range of holdings to prevent market manipulation risks.
foundation to solve inefficiency of centralized intermediaries with ‘smart social
The ARCC monetary policy mandate will assume for a high degree of market volatility
contract’ for the agriculture, trading and service segment of the ASEAN economy.
and speculation and as such the 5-year mandate current stands as maintaining the
With the built-in ID system, everyone who has a verified account can interact with
initial token raise price on a quarterly average price basis.
those social contracts to acquire social services like free education, food subsidies,
health care, police, fire reporting service, job training, community management, news
validation and policy lobbying. Third-party smart social contract can be built on top
of the blockchain and integrate with our regional ID system as long as it is designed
for social good.
The ARCC blockchain consensus mechanism will be based on the DEXON protocol45,
which provides decentralized, anti-corruption, trust-less and energy efficient block-
lattice structure with minimal latency, infinite scalability and inter-chain operability
so we can one day run all public services for digital society for all ASEAN countries.
The virtual machine will also be designed and built from the ground up to allow
smart contracts to be executed in a compiled, uninterpreted way with composable,
parallel and asynchronous programming language schematics. This allows
developers to build both computational intensive and I/O intensive smart contract
applications easily. We are working closely with other blockchain projects to bring
innovation at every layer together as the foundation so we do not need to reinvent
every wheel of the underlying technologies.
https://storage.googleapis.com/dexon-website/DEXON%20White%20Paper%20v0.2.pdf
45
www.ibmr.io 104 www.ibmr.io 105

28. Concluding Remarks

The innovative killer application for cryptocurrencies is found in emerging markets. Every issue
of trust, financial inclusion, corporate greed and corruption and government mismanagement
is found tenfold in these markets. While this makes sense on paper, in practice it is not
For the user application layer, we are creating a cross-platform ‘super-app’ much like the something which has been applied. The work experience, the life experience and political
WeChat from China where you can create many ‘mini-apps’ running on top of the same app experience required in these markets is beyond even the most experience international
UI foundation so the user doesn’t need to download or register in the first place. And since business people. The general consensus has been to always look for the low hanging fruit and
the application itself comes with the basic functions like account, messaging and wallet, the small wins in a system which can easily go from bad to worse to really brutal with just a
application developers can build their own mini-apps to interact with the basic functions or few small missteps. But these failing corrupt emerging markets have the potential to explode in
to interact with other smart social contract directly by using the ARCC Software Development gains.
Kit (ARCCSDK). The ARCC SDK will not only compile and deploy smart social contract, but
it will also generate API call stubs which can be used directly in the mini-app development. The top 50 ASEAN urban centers represent a total population of 87 million46 and a reasonable
ARCC SDK hides all the complexity of smart social contracts, simplifying the interaction starting penetration rate would be 13.8% of a 630 million total population. If we were to assume
between the mobile app and the blockchain, and as a result greatly lowers the entry barrier that 33% of this 87 million were the urban working poor, then this project would directly
of building a blockchain-based mobile app so everyone can start building smart social impact the lives of 29 million people who live between the verge of poverty and the promise
contracts for social good to facilitate the regional economy development. of life free from crime and exploitation. It is not a matter of a lack of money, or that fact it
can be distributed, but all of these actions do not empower the urban working poor to make
their own way. For the price of a coffee a day, you could save a child’s life, but what happens
after that? But bringing the urban working poor into a decentralized network where their
contribution matters is something completely different. In earning ARCC as a cryptocurrency
and understanding the implications of decentralization, these emerging markets will find their
full potential and blockchain based nations and jumping a generation in technology where
individuals create decentralized conglomerates that provide financial inclusiveness while being
equally competitive.
IBMR.io cannot provide the entire framework for what that looks like, but we can apply the
ethos of what bitcoin is and see it fine its truest and socially most impactful use case in
these emerging markets. This white paper represents over a year of full-time research, writing
and travel from Manila, Bangkok, Singapore, Hong Kong, Beijing, Shanghai, Taiwan, Seoul, San
Francisco, Dallas, New York, Boston and Toronto. It also represents the passion of the founders
who have a deep understanding of both the highest levels of the corporate environment, the
scale of the markets and the scope of the corruption and exploitation represented in this
problem. The depth of the human suffering and systemic nature of the problem do not get
solved by picking the low-hanging fruit or coming in with a developed economy projected
agenda. It gets solved by the people themselves in a decentralized framework that allows
them to make their own destiny free of a system designed to squeeze them for life. Financial
inclusion is the ultimately proof of concept for the power of decentralization in the economic
space. We solve this, then we clear the way for the next stage of humanity. Yes, it is that epic.
https://en.wikipedia.org/wiki/List_of_cities_in_ASEAN_by_population
46
www.ibmr.io 106 www.ibmr.io 107

Whitepaper
APPENDIX 1
06
EURO CASE STUDY: Why a Single Regional Fiat
Centralized Currency would fail in Southeast Asia
The position of IBMR.io is that of a reserve currency which acts as superstructure linking
the region’s current fiat currencies. This case study is to give a background on why the
ARCC Coin must be structured as a reserve rather than a replacement currency.
Since the Euro was confirmed in 1999, then launched in 2002, a single SEA regional
currency has been debated as an option for ASEAN (Association of Southeast Asian
Nations) as a means for further economic integration. But the Euro is a centralized
APPENDIX
regional fiat currency created for developed economies for increasing trade, market
size and political identity. Whereas for SEA nations, the priority for stability and
AND ATTACHMENTS
infrastructure investment for development is the greater need. SEA nations have the
population already, but no established middle-class markets.
While the Euro has centrally managed the fiscal policies of its member states, a single
regional currency under the same conditions for SEA nations would be disastrous.
Developing economies require immediate fiscal policy flexibility in light of the threat
Appendix 1 112 of instability to the market. A single regional currency that replaces the nation’s
Appendix 2 113 individual fiat currencies could actually bring down the whole region caused by a single
country’s market failure. It is not a matter of control over the value of the currency
Appendix 2 114
(i.e. devaluation), but of managing a nation’s own interest rates.47 SEA does not have
Attachement 1 116
a trade, market size, or political identity issue, but rather it has a market development
Attachement 2 118 issue. It is not a single regional currency which is required; the solution is a regional
reserve currency as a superstructure focused on growth, stability, development, and
participation.
http://www.nber.org/feldstein/fa121311.html The opinions expressed in this reference do not reflect the stance of IBMR.io on the success or
47
use of the Euro. It was meant to articulate the issues with a single currency.
www.ibmr.io 109
108 www.ibmr.io
development Currency Use Case work Whitepaper
APPENDIX 3
APPENDIX 2 ‘Micro Asset’ Over ‘Micro Loans’
FINTECH CASE STUDY: Why the Fintech Model Does Not ARCC has no interest in pushing a ‘micro loan’48 directive that is an additional burden of interest and regulations.
The issue with the urban working poor is that their current business activity is not scalable or profit model
Progress Economic Development
‘maximizable’. If capital cannot be deployed to significantly increase the scope or profitability of the business
then capital gained by micro loans have strong limitations in its objective and become a further burden of
In developed economies Fintech places an essential role in to lower transaction
interest and debt repayment.
costs and increase convenience. But in SEA lower transaction costs of those
already in poverty will not make a significant difference in the context of economic
In their book, Poor Economics,49 Professor Banerjee and Professor Duflo insightfully outline the context of the
development. The fintech model, as described above, does not lead to greater wealth
dilemma of the ‘micro entrepreneur’.
or fairer income distribution or market stability. Fintech, like e-commerce, requires
established infrastructure to flourish.
First, while many of the poor operate businesses, they mainly operate tiny businesses. And second, these tiny
The purpose of the ARCC is not to take the unbanked as they are and put them
business[es] are, for the most part, making very little money.
into the system. Rather, it is to move the unbanked into holding assets that they
Poor Economics: Banerjee and Duflo, pg. 213.
can grow and start to take risks into building new businesses and create further
assets. By focusing on infrastructural projects as well as a reserve currency which
This is the paradox of the poor and their businesses: they are energetic and resourceful and manage to
can exponentially grow in value, we are giving an incentive and reason for centralized
make a lot out of very little. But most of this energy is spent on businesses that are too small and utterly
vlocal commercial institutions to see that these individuals are a legitimate and
undifferentiated from many others around them.
valuable part of the market.
Poor Economics: Banerjee and Duflo, pg. 218.
The entire system of remittance should not be considered a good thing. For the most
Banerjee and Duflo, also mention in the same chapter about providing an asset, such as ‘a pair of cows, a few
part, remittance exists because wages are better in other countries and this not only
goats, a sewing machine, etc.’50 as a project instead of a loan to extremely poor households which had no
splits up families but also takes skilled people (e.g. doctors, engineers, educators,
businesses. An asset was able to change their mind sets and after two years that group was ‘10 percent richer
etc.) away to do menial jobs just for higher wages for the wellbeing of their family
in terms of consumption’. Near the end of the chapter, Banerjee and Duflo bring up the fact that providing ‘gifts’
back home. While it is noble, it should not be accepted as the status quo for these
or ‘micro credit’ at this level really would not be effective as a policy when it comes to accomplishing a socio-
countries. This is not naivety to say we should not accept the economic status quo
economic change in status. Simply because the nature of these tiny businesses: (i) cannot absorb much capital
when it is 2018 and we have innovations like a blockchain decentralized economic
and (ii) to reach the next step of a business model, where it actually can scale, it would require 100 times more
system to revisit and tackle economic development head on. Fintech in Southeast
capital than what a micro loan amount would be.
Asia accepts that remittance is the norm, but it should not be.
In the case of ARCC, we look to start with a debt free approach and seek to provide an asset base and path for
the working urban poor that gives a base foundation through the ‘micro asset’. While the urban working poor
can be applauded for being resourceful enough to survive, but survival is not stability and progress.

48
In their book, Poor Economics, Professor Banerjee and Professor Duflo explore and research in great, insightful depth this twofold issue of
‘micro loans’ and why microfinancing has fallen short of its expectations to create greater financial inclusion. ‘Poor Economics, Barefoot
head-fund managers, DIY Doctors and the Surprising Truth about Life on Less than $1 a Day.’ Banerjee, AbhijitV, and Duflo, Esther. Penguin
Books 2011, Chapter 7, pages 157-181.
49
‘Poor Economics, Barefoot head-fund managers, DIY Doctors and the Surprising Truth about Life on Less than $1 a Day.’ Banerjee, AbhijitV,
and Duflo, Esther. Penguin Books 2011, Chapter 8, pages 205-234.
50
‘Poor Economics, Barefoot head-fund managers, DIY Doctors and the Surprising Truth about Life on Less than $1 a Day.’ Banerjee, AbhijitV,
and Duflo, Esther. Penguin Books 2011, Chapter 8, pages 211-212.
110 www.ibmr.io
ATTACHMENT 1
ARCC Growth Hacking Representation of Socio-Economic Model

ATTACHMENT 2:
#METOO & EMERGING MARKETS: THE POWER OF A
DECENTRALIZED RADICAL TRANSPARENCY NETWORK
1. Introduction
The growing gap of wealth disparity and concentration of wealth is fundamentally inherent
in the centralized capital acquisition structure of capitalism. The aftermath of the 2008
financial crisis saw the unbridled greed of a few dictate the economics of the rest. But in
developing countries, the injustices, lack of transparency and inequality is a norm of life.
While the debate in developed nations may be more focused on individuals being able to
maintain their wealth and freedom as well as providing another alternative to a game that
is rigged by Wall Street, the needs of many emerging markets are locked into the basic
struggle to get out of poverty and exploitation. While it is a straightforward process to list
off what emerging markets require: education, infrastructure, transparent socio-economic
institutions and clean politics; it is an entirely different proposition to make progress in
these nations.
This project is focused on providing a new economic development model which directly
targets the urban working poor in emerging markets. Urban development is the basis for
most modern cases of economic development, but it must be growth that is inclusive
and promotes the acquisition of assets and entrepreneurial investment. In this respect,
we have a great divergence where the macroeconomic indicators may show growth in
a country’s GDP, but the wealth is entirely concentrated with the economic elites with
minimal trickle down. Ultimately, the emerging markets that fit this profile are rife with
corruption that directly exploit the urban working poor.

2. The Problems of Economic Centralization PROBLEM 1:

The first issue is the ‘lack of transparency to identify the systemic exploitation which
2.1 Five Barriers of Corrupt Centralization directly affects them’. It gets to the heart of an imbalance of power and centralized
The urban working poor face five interlaced problems which prevent them from increasing structure over that of an unorganized group of individuals. The current centralized
their quality of life in line with the macro economy. structure of authority which allows for systemic corrupt to exist and thrive is a system
which is established and is occupied by people with authority. The main issue is that
1. Lack of transparent record to identify the systemic exploitation which directly affects when acts of corruption or inefficiencies exist, they affect people at different instances
them. and as individuals. While over time, it may be common knowledge that these points
2. Lack of accountability channels to actually change the instances of exploitation. of corruption exist, it is hard to identify how widespread and damaging the instance is
3. Lack of accessible channels to acquire ‘micro assets’. because of the lack of open public record. Recorded as a whole, the aggregated effects
4. Lack of supporting and efficient infrastructure which allows them to effectively mobilize of the corruption (the total number of instances and the cumulative effects of the
their capital for investment. damage) can identify the true scope of the issue. But that too is a centralized approach
5. Lack of identity as a collective to engage the issue as a community. of organizing individuals to gain the critical mass around a particular issue. The issue is
that this approach is entirely dependent upon creating a momentum and a tipping point in
For the purpose of this paper, the problems will be framed in the recent #MeToo relation to the issue.
movement to give developed country readers a context of how severe the issue of
systemic corruption is and how powerful a centralized corrupt system is in maintaining In the case of the #MeToo movement, systemic sexual harassment in Hollywood and the
the status quo. US Women’s Olympic Gymnastics program were exposed through the use of social media
in aggregating the individual instances that incidents occurred. While the problem was
widely known, the impetus to address it was not there until a counter centralized force
exposed the extent of the problem. But social media has been around for years now, why
only in this past year was this movement initiated? Ultimately, it took the leadership and
bravery of a few women to stand against social pressures and norms and bring the issue
to a tipping point as a recognized issue that could be addressed. It is not to say that there
were not many women who had tried to do the same thing, but due to a lack of critical
mass, they could not bring the issue to a social tipping point in the past.
PROBLEM 2:
Even if the issue is finally recognized, there is a ‘lack of accountability channels to
actually change the instances of exploitation’. In the case of the #MeToo movement,
the issue against the University of Michigan and Dr. Larry Nasser resulted in legal and
public judgement against many of the perpetrators of the systemic cover-up of sexual
harassment and assault. Yet, not every person that was culpable to the systemic cover-
up was punished as only the major visible players took the brunt of the judgement. The
issue is more pronounced in the case of the Hollywood issues where there has yet to
be any legal judgement passed on Harvey Weinstein, who many have accepted the loss
of reputation and business a reasonable outcome. Yet, this also shows the issue with
systemic corruption in that it is hard to indict an entire system and all the players that

the very doctor who was in charge of their physical health was also the perpetrator of the
compose it, when many touch points of the corruption were able to hide behind the crime. There was no way for any of the persons to turn to another organization for the
existing system that now must try to prosecute it. Again, the central authority must make same level of support and career advancement if they were to get rejected by the current
a centralized decision to self-correct its own structures, and it may fall short of fully one.
resolving the corruption.

PROBLEM 5:
PROBLEM 3: No one wants to be considered the urban working poor. While there may be a class
Money equates to stability and the ability to take a long-term outlook. In the case of the consciousness formed or it may make a great humanitarian biography, there is clearly a
urban working poor, it is a ‘lack of accessible channels to acquire ‘micro assets”’. This puts ‘lack of identity as a collective to engage the issue as a community’. It is nearly impossible
them in a position where short-term debt obligations and a lack of any interest-bearing to coordinate and mobilize the group of individuals under certain identities which the
capital places their focus squarely on survival. centralized system has already identified as undesirable.
In the case of both the Hollywood and USA Women’s Gymnastics cases, the women Rose McGowan, in her rebuttal of a denial by Harvey Weinstein of her accusation of rape,
were in disadvantaged positions because of the threat of their careers and their ages. stated that she wouldn’t be ‘slut-shamed’ into backing down from her accusation. The
The strength of the women to continue in their professions and sport seemed to be a first categorization of anyone who accuses an established centralized system is put
justification for the continued disregard of the individual allegations against the injustices into a negative role from the ‘slut’ or troublemaker or the mentally troubled to even the
and instances of sexual assault/harassment. But in reality, the women who suffered insane. Being forced out of one system forces the exploited to define themselves as not
in these instances were either starting their Hollywood careers, were too young to feel just victims, but as for those seeking reform and justice. This natural tendency to blame
empowered, or were close to their ultimate goal of competing in the Olympics. Thus, the victims creates a major barrier for victims to pursue their rights, and they ultimately
even under protest and continued sexual harassment and assault, they continued with cannot when the system defines them as victims. Inherent in that definition as a victim
the status quo. The imbalance of power negated the combined accusations of those still is their powerlessness as individuals, but it is the sum of those victims that create a new
participating in the system as it appeared, that because they were still within the system, identity of fighters who have come together to fight the injustice. A group of victims
the system was not fully broken. But in the case of established actresses or Olympians, together becomes a movement that fights against the injustice that made them victims in
the balance of power shifted and they could step outside of the system and create a the first place and now fighters to defend themselves.
counter system. For these women, it wasn’t until they achieved some level of external
‘capital’ could they choose to take a full position outside of the system. 2.2 Corruption as a Systemic Problem
In South East Asia, the urban working poor represent over 80 million individuals who
PROBLEM 4: struggle each day with these issues in all facets of their lives. The entire class of people in
The urban working poor have a ‘lack of supporting and efficient infrastructure which allows these markets has a #MeToo story. This is not to make less or lighten the struggles faced
them to effectively mobilize their capital for investment’. This translates into the fact in the developed world, but only to shed further light on the severity of the issue in these
that even if they were to have accumulated capital for building out a scalable business, markets where all people are vulnerable.
the overhead and costs from corruption and the inefficiencies due to the lack of viable
reasonable cost infrastructure would make any business they engaged in impossible to Taken together, this results in a short-term survival outlook which looks to instant
succeed. gratification through consumerism in place of long-term savings and planning, zero
collective bargaining power, and a lack of scalable entrepreneurial activities. These
Specifically, in the case of the Hollywood #MeToo movement, actors that did speak out or issues are also equally negatively expressed at a macroeconomic level where the limited
did not cooperate with the sexual harassment or tried to expose the sexual assault were infrastructure is used to exploit the urban working poor, and thus does not allow for the
blacklisted in the industry. Even actors who had amassed some level of success were still efficient use of labor. Distribution and payment channels are only structured to benefit
greatly affected by being blacklisted. In the case of the US Women’s Gymnastics team, the existing rent seeking economic elites and dissuade foreign direct investment. The

overall effect is an unstable exploitive market with limited local entrepreneurial ventures through the technological advancement of the decentralized cryptocurrencies, e.g. bitcoin.
and an exponential gap between the urban working poor and the economic elites with It is a significant point that by the decentralization of a medium of exchange, i.e. currency
nothing in between. to cryptocurrency, which has enable for fully decentralized networks to exist because of
the incentive provided by the cryptocurrency to start, grow and maintain. Decentralization
Current emerging market fintech solutions for ‘banking the unbanked’ or micro loans or would not be possible without the advent of this technological advancement.
lowering remittance fees do not address the fundamental issue of corruption and lack of
infrastructure that affect the urban working poor. Financial inclusion needs to contain an
opportunity for a fair transparent channel for asset acquisition and growth that is open to
all individuals. Workarounds like efficient international remittance structures and long-
term overseas workers actually legitimize the domestic corruption, exploitation and lack
of infrastructure while splitting families for decades. Even with successful systems of
international remittance, the remitted money is simply sucked dry by the existing exploitive
structure and does not improve the economy or the individuals that receive it.51 What is
required is a bottom-up decentralized approach that provides radical transparency and fair
inclusive access to assets that can be used for long-term entrepreneurial activity by the
urban working poor. This is beyond the old adage of teaching a person to fish over giving a
person a fish. In a corrupt system, the fish that people catch never even reach the market,
let alone a dinner plate. If that is the case, why would people bother to even invest in
a fishing pole? What is required is a decentralized financially inclusive socio-economic
structure that does not have single points of failure and which can grow in unison.
Through the application of blockchain and cryptocurrency technology, we can create truly
decentralized networks which immediately empower and coordinate the nodes.
In the next section, we outline a decentralized economic network for the urban working
poor: their structural economic composition as nodes in this context of a corrupt,
inefficient existing centralized system.
3. Addressing the Challenges

The most profound social impact with the innovation of cryptocurrencies will be in
emerging markets. When an established centralized system promotes or defends
corruption, then only a ‘counter’ system can address those injustices at that level due to The resolution of corruption is a first step in addressing a critical condition holding back
the existing scope and scale of the corrupt system. The first issue with a counter system any possible progress by bringing this system from negative to a neutral state. A positive
with centralized solutions is that there is a single point of failure right at the start. If the feedback system cannot be based on a reactionary position to a problem as its goal,
initial movement to create and coordinate the individuals is not there, then the counter rather it needs to go beyond the removal of barriers. Ultimately, we are looking towards
system fails at the beginning. Whereas in a decentralized system, the system has no a better economic system that can, in real terms, increase the quality of life of the urban
single point of initiation, rather it can simultaneously come into existence and similarly act working poor as well as create an environment of growth, stability and inclusion.
in independent coordination. This act of ‘instant existence’ is an attribute provided solely
http://business.inquirer.net/237974/world-bank-sees-ph-remittances-hitting-33-billion-2017-remittance-dollars-peso-world-bank
51
Philippines remittance in 2017 was over 30B USD composing over 8% of their GDP, making Philippines the 3rd largest remitter in the
world, but also 118th country in the world by per capital income. https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per capita

WHITE PAPER
International Blockchain Monetary Reserve (IBMR.io)
David Sinjin Jung

ARCC,david.jung@ibmr.io
ASIA RESERVE
www.ibmr.io
CURRENCY
2018.07.21 COIN
Versionin11.2
Eliminating Corruption Emerging Markets through
the Issuance of a Stablecoin Regional Crypto-Reserve Currency
and ‘Social Proof of Work’ Network Adoption Model.

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ARCC, ASIA RESERVE

International Blockchain Monetary Reserve (IBMR.io)

David Sinjin Jung

WHITE PAPER 2018.08.12 / Version 11.3

“ARCC creates and reallocates wealth

About IBMR.io Abstract

ii www.ibmr.io www.ibmr.io iii

JOHN F. KENNEDY (1962)

Figure 1: ARCC economic development matrix

economic Lowering of Corruption

2. ARCC Economic Development 7 = = =

6. Concluding Remarks of Part 1 24

2.1 Urban Working Poor: $47.4B

Source: Forbes Asia

2.3 Financial Inclusion: ARCC as a cryptocurrency

Figure 2: Effects of corruption on productivity over time for capital

Figure 3: Social Proof of Work

As a decentralized cryptocurrency, any ARCC earned on the ‘Social Proof of Work’

3.1 Social Proof of Work Network as

3.2 Social Proof of Work Outcome on Productivity

4.1 ARCC Value Proposition as a Stablecoin

currency’, ARCC would be positioned as a ‘store of value’ which acts as an additional

A ‘foreign currency reserve’ is essentially a ‘basket of reserve currencies’, other than

Figure 5: Currency reserve capital flow

Figure 6: Arcc currency

(i) ARCC CURRENCY

The inflow of funds to the ARCC Currency Reserve occurs by:

reserve with 100% of net return as inflow,

-HONG KONG & SINGAPORE TERMINATION POINTS

4.3 ARCC Value Proposition as a Regional Reserve Currency

(3) ARCC (1) SOCIAL Figure 9: SOCIAL PROOF OF WORK

(3) CURRENCY (1) ARCC

Figure 11: ARCC crypto-reserve infinity loop network

(6) ‘Micro Entrepreneurship’ (Radical Transparency):

(8) Mass Adoption of ARCC:

(3) ARCC as a ‘Stablecoin’:

The objective is to create an asset of value (ARCC as a micro-asset & crypto-reserve

Figure 12: Top 10 forex reserves by country31

Rank Country Forex Reservez ($B)

8 ARCC Token Raise and

8.1 ARCC Initial Exchange Token Raise

ARCC 1. Private Presale 2. Initial Exchange Token Raise

ECONOMY 3,6,9 Month Vesting

9. ARCC Monetary Policy Mandate  37

2. Airdrops for New Users:

5. Management & Operations:

8.4.4 Phase 2 Annual Token Mint (7-Year Period):

8.4.3 Phase 1 Annual Token Mint (18-Year Period):

14 256,783,692.91 20% proportional urban population basis.

8.7 ARCC Currency Reserve Fund Inflow and Investment Fund

10% 5% ARCC Currency Reserve Inflow

3. Stage 2 Annual Token Mint (7-year period) @ 2% Additional Supply

ARCC Investment Pool Inflow 2. NEW MINTED ARCC

3. STAGE 1 ANNUAL TOKEN MINT (18-year period) @ 20% Additional Supply

4. STAGE 2 ANNUAL TOKEN MINT (7-year period) @ 2% Additional Supply

40% 40% 5. PROFITS FROM INVESTMENTS & OTHER INCOME

As an economic development project, management and leadership is a critical factor in

Current applications of a majority of the stablecoin in the cryptocurrency space

NEEDS TO BE PROVED BY ADOPTION & USAGE

CURRENCY MYTH GAP

5% ARCC Airdrop (1% of Total Supply)

Vested Year 2 20% 20% 60%

Vested Year 5 20%

Trust, Competitiveness, Production Contribution: The first three years of management

2. ARCC Economic Development 7 = = =

6. Concluding Remarks of Part 1 24

9. ARCC Monetary Policy Mandate 37

5% ARCC Airdrop (1% of Total Supply)

12. Phase Two of the ARCC Token

16. Blockchain Audit Functionality of Transactions and Balance via zkLedger 44

14. Initial Token Launch Airdrop Via 15. F

18. Centralized Technical

26. Concluding Remarks 61