Social Proof of Work
Social Proof of Work (SPoW) is the act of mining on the ARCC.one fintech network to earn ARCC. Instead of using mining hardware or having to stake existing coins, SPoW allows a user to simply log into the ARCC.one mobile app and then perform either a survey or report on a socio-economic topic or issue in their urban area. Whenever the report is done the user will be rewarded with some ARCC.
SPoW is also the way that data is collected and then aggregated on the network so that a true data based understanding of the quality of life and living standards are recorded. The reason for this is that this form of data collection from those who are not legally or financially represented is best able to expose the level of systemic corruption in a system.
Systemic corruption is the greatest barrier to the growth of emerging markets and it has a disproportionate effect on the poorest and least represented in society. The urban working poor are affected in all aspects of life by systemic corruption, whether it is cartel pricing on utilities, insufficient and deteriorating infrastructure, lack of social programs, or any number of secondary effects. Without addressing the systemic corruption that is the root cause of the failing of these emerging markets, there is little chance for them to ever reach ‘developed country’ status.
The Social Proof of Work Network works as a decentralized information network that aggregates socio-economic data by its users who identify points of urban systemic corruption. Users participate in a wide range of socioeconomic surveys as well as report on points of urban corruption such as monthly utility rates, healthcare costs, illegal dumping, ongoing sanitary issues and deteriorating public infrastructure, etc. This information is further verified by other users, and a completed outline and scope of the systemic urban corruption can be mapped. This data backed evidence is the first step in creating a counter public mandate for governments to recognize and consider over that of the economic elite.
Functionally, the lowering of systemic corruption would establish an environment of Radical Social Transparency. This 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.
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