We work for the better part of our live making some good money during the journey. Almost every single day of our adult lives, we wake up early to prepare for the jobs that we have and end up sleeping late as we try to fend for ourselves and our families. After toiling for 40+ years, our bodies grow weary and we may want to take a back seat and just enjoy what life has offer during the last phase of our lives. We may still be active but not as much, so we cannot generate as much income as we used to, in fact, we may not be able to generate any at all and that is why pension plans
The whole pension plan idea was good and it still is good but it is becoming strained as the economy gets tougher for all of us. More people are retiring and the money they have been saving up for their retirement needs to be given to them. However, they may not be receiving their dues as fast as they want to, they may not even receive what they deserve to. Pension fund managers have been having it rough with bad investments and bad debts. These wrong choices end up hurting their entire system. Without new people to subscribe to their pension plan, they may never have enough money to fulfill their part of the contract to those who have retired.
More people are retiring as less people get stable employment. Without a stable employment, having a pension plan becomes difficult. The economy is not making it any better. The global recession that was experienced in 2008 is still affecting the world’s economy and subsequently pensions. If the pension systems around the world remain strained, it may lead to another economic disaster as more people retire and less people subscribe to pension plans.
Even as things look grim for our future, we have systems that are being developed that may help avert this economic problem. Strides are being made in technology that may help create better operational environment for the pension structures. This may involve tweaking the current operational structure but it will be for the advancement of the pension system.
Blockchain technology may probably be one of the most celebrated technologies in future as it has the potential to make structures and systems run more efficiently. The Akropolis Company is planning to create a pension system that is based on blockchain technology.
Blockchain is a great platform especially where transparency and clear data records are needed like in pension funds. Some of the bad administrative decisions made and the challenges that are there in the different pension structures that we have can be done away with through blockchain technology. Furthermore, blockchain helps create a more secure platform through decentralization. Decentralization spreads the risk of any cyber-attack therefore reducing what may be lost in a cyber-attack.
The Akropolis platform
It will consist of different categories of users depending on their function in the platform. Individual users, pension funds, pension fund managers, developers and asset tokenizers will all be part of the platform. They will come together to come up with different products that will help the pension fund system progress. They will also be the users of these new products together with what Akropolis is offering.
Akropolis will run using a hybrid system during its first years of operation before moving to a fully decentralized system in future. All operations in Akropolis will run through the Ethereum blockchain with plans of making Akropolis an agnostic blockchain platform in place. The Akropolis foundation will be the centralized structure under which all decentralized system will work before the full switch.
Akropolis is designed to fulfill all pension needs of all the parties involved right from the individual users to pension fund managers. It even goes a step further to provide a place where developers can exercise their skills and earn from them. It is also designed to comply with regulations as stipulated by regulatory bodies in the countries in which it will operate in. Flexibility, transparency and accountability will be the defining words of this project in this ever-changing world.
Advantages of Akropolis
There are a lot of benefits of being a user of the Akropolis platform.
For individual users, they stand to gain from selling their user data. The platform will host entities that may require this data and are willing to pay for it; of course this will be done voluntarily.
Users will also benefit from a clear pension system. All the transactions that will be done by the pension fund managers they choose will be at their disposal. They could request for the data at any time.
The platform will be fully transparent in terms of how the pension fund is being utilized.
Most services in the platform will also be incentivized using the Akropolis token system. They will have different users depending on whether they are Akropolis internal or external tokens. Users of the platform may receive this as a reward whenever they accomplish specific tasks in the platforms. It will also be a way through which a different pool of funds can be accessed. It will open up the platform to cryptocurrencies which are a promising trade tool for the future. Cryptocurrencies could help provide the cushion that pension funds need.
For pension fund institutions, the platform will make running these institutions easier. Transparency will help avert crises that usually come about as a result of irregular transactions done by these institutions. With Blockchain creating records, pension funds will have clear records that are immutable. Auditing these institutions will become easier and it will also help eliminate any uncertainties in the platform.
Blockchain Pension Infrastructure
World pension is in turmoil. As our society gets older, the system designed to support us into retirement is very inefficient.
Acropolis is a technology platform designed to address the deep structural problems of the global pension sector. It is designed to be a multi-jurisdictional platform for delivering retirement, social welfare and future benefits on a portable basis, which over time brings together individual end users and major institutional players in new incentive systems.
If you spend your time and resources on the most time-sensitive issues that have the greatest negative impact on the greatest number of people, regardless of age, race, gender, or location, what is it?
According to The World Economic Forum
48% of the retirement age population does not receive pensions, and the global pension saving gap will grow from $ 70 trillion in 2015 to $ 400 trillion by 2050.
According to CitiGroup
The average rate of government retirement obligations without funding being analyzed in 20 OECD countries is ~ 190% of GDP, which is only 109% of GDP.
"You never change a lot by resisting the existing reality. To change something, create a new model that makes the existing model obsolete "
(R. Buckminster Fuller).
There is no solution in this very weak system
Acropolis helps to get rid of a defective world in pensions with an unchanging and transparent new contract-based pension fund infrastructure that will dramatically change the way people think about saving and investing.
The Akropolis project aims to become the world's largest alternative retirement infrastructure. We create decentralized pensions on blockchain and a safer financial future for mankind, built by and for the people.
Our vision
Our vision is to solve the problem of the world pension deficit.
We use technology to create a more sustainable future and increase resilience in the face of substantial risks that can be expected.
We utilize blockchain and tokenization to create economic transparency and efficiency with minimum cost erosion.
We place controls firmly on hand and for our users' benefit, over time removes dependency on third parties.
Sales Token
Token Utility
Roadmap
Q3-Q4 2017
Angel funding round
Pre-sale softcap reached
Whitepaper drafted
Q1 2018
Strategic partnerships signed
Smart contract developed and audited
MVU deployed on testnet
Whitepaper published
Q2-Q3 2018
Token Generation Event scheduled
Tokens distributed
Institutional partnerships signed
Technical architecture finalised
MVP deployed with trial clients
Q3-Q4 2018
B2C Beta product is released to private group of early adopters
B2B product prototype has been completed
Q4 2018
Full-featured platform layer is integrated with front-end products on mainnet
B2B pilot service is ready to launch with select institutional Users
Onboard selected pension fund asset managers
Trial users participate in B2C product on a limited basis - similar to a regulatory sandbox
QA for Android and iOS apps nears completion
2019+
Full audit on library of smart contracts is completed by two independent auditors
Release first version of the platform
External API is released for third-party add-ons
Akropolis hardware wallets ready.
https://akropolis.io/
https://link.akropolis.io/whitepaper
https://t.me/akropolis_official
https://twitter.com/akropolisio
my bitcointalk:https://bitcointalk.org/index.php?action=profile;u=1838510
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