As we know there is pension crisis predicted by scientists expressed as deficiency of facilities for pension payments due to the difference between the number of working and retired citizens. At the same time, globalization has changed the employment system. There are so many distant workers, self-employed and freelancers. All these create demand for a new solution in pension management. Today I will introduce you Akropolis platform that is intended to be the largest alternative pension infrastructure.
The global pension industry is in serious trouble, with many funds underfunded and heading for disaster unless solutions are applied right away. The current pension fund structure is outdated, has conflicts of interest and lacks transparency. People are living longer now, and many pensions aren’t adequately funded to handle this fact. This can cause many retirees to be underfunded and result in a major financial crisis. A company with a vision to solve this world-wide pension deficit problem is Akropolis.
The Akropolis platform was designed to solve the problems of the outdated structural issues of the worldwide pensions sector. Akropolis is a global technology platform that allows users to connect with a variety of pension funds and experienced fund managers with a transparent fee structure while being portable. The goal of Akropolis is to be the largest alternative infrastructure for pensions globally by creating decentralized pensions on the blockchain using smart contracts. Akropolis will partner with top experts in the pension sector to help solve the current problems of the global pension industry.
The Akropolis platform acts as a gateway between individuals, pension funds and the fund asset managers that manage retirement investments. The fund managers build portfolios of assets, which are then tokenized and put on the blockchain and available for investors. Under this system, investors would have complete transparency with respect to their on-chain portfolio pension investments. Any disputes between parties will initially be handled through the Akropolis Foundation until mediator partners are incorporated. Currently, pensions are maintained by disparate companies and individuals that have many job changes have a hard time keeping up with pension plans. The Akropolis platform allows individuals to manage all of their pensions in one place.
Akropolis is an advanced pension platform that unites and incentivises users, pension funds (PF) and Fund Managers (FM) with the assistance of blockchain technology. The platform will operate as a freemium application and will be initially built on Ethereum.
The Akropolis (AKT) platform will initially be launched on Ethereum with the ultimate goal of becoming blockchain agnostic. Akropolis users will have complete control over their pensions without the need for a third-party. Individuals may allow various Akropolis platform parties to access some or all of their private data and receive AKT tokens as a reward. These tokens will subsequently be added to the individual’s pension.
The Akropolis Internal Token
AIT is an independent stable token used as an accounting unit for tracking and recording the investments flows inside the platform. AITs represent digitally the funds of users and can be converted to fiat money or cryptocurrencies.
Participants of the platform
⊛ Individual users who would like to have their pension savings. They will be able to keep saving information in total confidentiality and to perform an audit easily. They will have a wide choice of PF and a new market of assets (cryptocurrencies).
⊛ Pension Funds (PF) with own clients or users and own platform. They will have the opportunity to involve several confident FMs and decrease their IT expenses and outlays for searching MFs. They will be contacting MFs directly and will be able to verify easily the authenticity of counterpart's documents.
⊛ Fund Managers (FM) - entities empowered to purchase the assets on behalf of the users and PFs. They will have their proved ranking and single onboarding as well as access to a great number of clients.
⊛ Assets tokenizers - centralized entities keeping the assets (by themselves of at the third parties) and distributing their tokens according to the share of users. These tokens may be considered as a digital proof of shareholders.
⊛ Developers - members of the community and contributors to the platform.
There are 3 main points used in the system to have an effective and transparent performance:
⊛ onboarding and vetting system requiring FM candidates to stake AKT or AIT to be held by Akropolis for the whole engagement time. This will prevent off-mandate investments, different frauds, information defficiency or flaw.
⊛ asset portfolio reporting by FMs. A new class of actors that profit by demonstrating the inconsistencies in a fund report will be encouraged by the staking mechanisms.
⊛ ranking and reputation. There will be a single overall ranking and more detailed ranking of all funds.
ICO and AKT tokens
Token supply: 900,000,000
Hard Cap: 25,000,000
Tokens for sale: 360,000,000
Price: $0,0069 USD
ICO date: to be announced
The Akropolis team is made up of many experienced fund asset managers, which gives the project a leg-up in terms of implementation. Pension systems are complex. Akropolis will handle regulatory compliance and make the pension management process simple for the end user, making pension savings transparent as everything will be recorded on the blockchain.
The executive management at Akropolis is listed below:
Anastasia O. Andrianova – Founder/CEO
Adviser, Web3 Foundation
University of Oxford
Sandra Wu – Senior Advisor to the CEO and General Counsel
Head of Legal and Chief Compliance Officer, Mercer
Fund Formation, Weil Gotshal & Manges
Private Equity, Kirkland & Ellis
Peter Robertson – Pensions Lead
Principal, Vanguard Asset Management
Kings College London
Team members include:
Aylon Morley – Business Development
Senior Analyst, Reuters
London School of Economics (LSE)
Abhimanyu Dayal – Head Of Strategy
dApp Fund Manager, BITNATION
Cass Business School
Adrian Manning (PhD) – Head of Blockchain R&D, Sigma Prime
PhD Physics, University of Sydney
“Quantum Field Theory in Curved Spacetimes”
Paul Hauner – Smart Contract Development and Audit, Sigma Prime
Software Consultant, Innomate
University of Sydney
Mehdi Zerouali – Cybersecurity Lead, Sigma Prime
Advanced Security Centre, Ernst & Young
Jay Mehta – Content & Community Management
Community Management, Blackmoon Crypto
Community Management, Polybius
Victor Wiebe – Blockchain Developer
Software Engineer, Trimble
The University of Calgary
Ian Grigg – Technical Adviser
Partner at Block.one (EOS),
Architecture Consultant at R3, Financial Cryptographer
Inventor of Ricardian Contract
Kate Kurbanova – Advisor
Head of Analytics, Cindicator
Ros Altman CBE – Pensions Advisor
UK Minister of State, Department for Work and Pensions (2015-2016)
For more details, visit Akropolis.io
Akropolis is the first to attempt bridging pension funds to the blockchain. Because it is so complex and there are various global regulations, compliance will have to be solid from day one. -2
A product like this requires a lot more than just a prototype to convince individuals to trust their retirement pension funds. Mass adoption may be an issue. -0.5
Large companies such as Vanguard and Fidelity are not just going to sit and allow a new company to take away their business. This may lead to larger companies lowering fees, which would make it more attractive to stay than to try a new platform. -0.5
Akropolis has a hard cap of $25 million, which is somewhat low in this current ICO market. ICOs are starting to regain traction and are rebounding as money flows back into the market. +4
The team has a lot of very experienced executives and members that have the qualifications to overcome complex pension fund issues. +3
Akropolis is in talks with large companies for partnership and will announce those partnerships after agreements have been confirmed. +3
Akropolis is taking on a very complex industry head first, making pensions more accessible and simple for people around the world. With a somewhat low market cap and favorable timing, Akropolis, in my opinion, can reach a $50 million market cap in a couple of months, which would double your initial investment. Akropolis receives a 7 out of 10 rating.
WEBSITE : https://akropolis.io/
WHITE PAPER : https://link.akropolis.io/whitepaper
FACEBOOK : https://www.facebook.com/akropolisio/
TELEGRAM : https://t.me/akropolis_official
TWITTER : https://twitter.com/akropolisio