Corruption is generally understood as the use of official position for the purpose of personal gain. As a rule, this concept is identified with the concept of “bribery”. However, it is worth noting that the meaning of the word "corruption" is not limited to this. The word corruptio in Latin translation means "decay, damage." Corruption has many manifestations: corruption; misappropriation of goods, services and assets (including cash), etc. Moreover, corruption exists not only in the civil service system, but also in the private sector too. The key feature is precisely the conflict of interests of the official and his employer, that is, the enterprise, society, state. The main factor determining the existence of corruption is precisely the opportunity to receive any benefit (not necessarily material), and the key deterrent in this case is the opportunity to be punished for what has been done. Other factors that determine the existence of corruption are legal skepticism, legal illiteracy of citizens and a low level of civic consciousness. Corruption is a social phenomenon, and this implies the involvement of two parties in this process. One side provides the second with any benefit in exchange for the satisfaction of their interests, as well as the opportunity to abuse the official position of the other side. And the second party, in turn, acts as the recipient of this benefit and fulfills the requirements of the first party. This may include the performance or, on the contrary, the non-fulfillment of one’s official duties, the provision of any information and other information. The causes of corruption are many. But the main motive that drives people to commit such a crime is simple human greed. It is greed that pushes people to such actions, forcing them to forget about moral principles. Other motives are:
- low income, lack of growth and self-realization
- low level of education, upbringing, social responsibility, self-awareness, lack of a sense of duty and other personal characteristics of participants in corruption
- dysfunction of the legal and judicial system, the lack of adequate punishment for such an offense
- lack of unity of executive power, professional incompetence
- low level of legal literacy of the population
- interest of both parties involved in corruption
Corruption remains unidentified because it is a systemic problem, targeting people with the least number of views with a centralized system. Corruption perpetuated by economic elites includes the utility of cartels, which set high electricity prices for minimal use, which is aimed at classes that do not have consumer protection. Basically, because corruption occurs at every level of the economic engine, there is no incentive to even publicly recognize corruption, not to mention changing something. Corruption is well known, but it is treated as if it exists independently and does not matter for all economic development issues. Systemic corruption requires a collective, open, verified and transparent account, as a counter, in order to clearly identify this corruption from the first step! IBMR.IO, thanks to the creation of the ARCC token, will help solve this global, deep-rooted problem and try to root it out of society! At the heart of the IBMR.io economic development model is ARCC as a crypto-reserve currency. This ultimately dictates the rationale for the economics of ARCC tokens (reserve structure, social protection of labor, inflow of funds and leveling of the regional market) and its assessment.
How the project organization is built:
STRUCTURE OF THE SOCIAL IMPACT FOUNDATION - IBMR.io is registered in Singapore as a technology provider and is in the process of acquiring all of the appropriate fund and asset management licenses to manage foreign exchange reserves and investments.
TEAM TECHNICAL DEVELOPMENT - based in Taipei, Taiwan. The development team is responsible for launching the application, including the wallet, virtual ID and social network Proof of Work.
Analytical Center and Consultation - ARCC, managed by IBMR.io, will have a research team focused on decentralized economic currency structures, innovations, applications, and their social impact. This advisory group will be based in New York, NY.
Economic development of the project:
Debt-free micro-assets - ARCC is structured as a macroeconomic stable coin that will act as a “debt-free micro-asset” in a new decentralized regional economy, encompassing all segments of the population, to invest the urban working poor in scalable and sustainable enterprises. The political stance of IBMR.io is that the working poor in the city need access to unencumbered assets, sufficient to use them as entrepreneurs for scalable enterprises. A scalable business is a business whose business model is deep enough and large enough to generate revenues that can be used to exit their current socio-economic status. IBMR.io aims to create ARCC as a “debt free micro asset” that you can earn freely through the ARCC application.
Social proof of work - allows poor people working in cities to earn free ARCC tokens not by mining equipment, but by participating in social and economic research exposing the systemic corruption around them. This is an act of expanding socio-economic rights and opportunities through financial integration. The information gathered through Social Proof of Work allows for a massive aggregation of data that is usually not recorded or suppressed due to a lack of representation and outright exploitation of vulnerable classes in developing countries. Full aggregation, verification and public awareness of these current data will provide the basis for radical social transparency.
Radical social transparency - corrupt, failing emerging markets suffer from systemic corruption, and to combat this requires a collective, open, proven and transparent account (Social Proof of Work Network), as a counteracting force to clearly identify and expose corruption. The Social Evidence of Work network operates as a decentralized information network that brings together the socio-economic data of users that reveal points of urban systemic corruption. The Social Proof of Work network is supported through the issuance of ARCC, an Asian reserve currency coin, as an incentive. The goal is to ensure the socio-economic mobility of the poor in emerging markets by identifying corruption and expanding their entrepreneurial abilities through financial integration.
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