Auctus Pension Funds

The problem is that society’s lack of openness and transparency often creates fertile ground for mistrust and mushrooming of misconceptions and negative perceptions that is dangerous to the governance of any ecosystem. The process of governance is incomplete without upholding transparency.

Take for example pension fund management: despite being heavily regulated, there are still several cases of fraud in pension funds around the globe like in UK and Brazil.

The main problems related to fraud in a pension fund include: employer not paying contributions, misappropriation of investment assets, improper payment for services, abuse of position providing of pension benefits or payments, deny in pension benefits, hidden fees and financial statements manipulation.

When an institution is able to lay bare its operational activities for open scrutiny by the public it allows citizen participation, involvement and meaningful engagement such that it can protect itself from the powerful and the corrupts, when they are acting in secrecy and concealed practices to take advantage from the system inefficiencies. That’s why we believe that radical transparency is the most potent strategy to battling corruption and misrepresentation.

Blockchain technology is all over the press these days, mostly because of cryptocurrency high prices, volatility, and ironically by the dark side of it, surrounding frauds like global hack attacks. While the mainstream media has been busy speculating about prices and black market intrigues they’ve been missing the fact that beneath it all, by creating the right system, with the right guarantees you can fix bad incentives. You can eliminate corrupt middlemen and rent-seekers.

Using Ethereum as a platform for blockchain you can create a smart contract, which is an agreement, in the form of a computer program, that is executed automatically once certain pre-programmed conditions are satisfied.

The Auctus Platform will be a global smart contracts-based platform for pension funds designed to adapt to different legal and regulatory standards. Through smart contract auditable code the platform will ensure full transparency and compliance to the fund rules.

Smart contracts will be developed to calculate contributions, employer match and benefits, and other features such as investment profiles, beneficiaries designation (in case of death), administration fees calculations and portability between funds.

What’s Next?

The first step in our roadmap is to create our own pension fund using smart contracts that will work as a Proof-of-Concept for our platform and help us validate the project. The first smart contract-based pension fund will consist of digital assets as we chase solutions to also invest in traditional assets and enable adoption by traditional funds.

Auctus is led by a team of experienced people. Team consists of developers, strategists, engineers, operations and marketing managers. Together they have knowledge and ability to fight with every challenge that comes their way.

The team is also planning an ICO. You can contribute and recieve a piece of future in a form of AUC tokens. Price will be 1 ETH for 2000 AUC. You can participate here: http://auctus.org/

ICO is one way to earn tokens, but there is also another one. You can work on the marketing campaigns and earn yourself tokens. Work includes social media campaigns, signature campaigns, translations and other jobs which can help spread word about the project. You can check the rules here: https://bitcointalk.org/index.php?topic=2059192.0

If you want to know the details about this project, your sure bet is to head on the link and read the whitepaper which contains all information about Auctus project. You can find it here: http://dl.auctus.org/Auctus_Whitepaper_draft.pdf

Bitcointalk has also a thread for general discussion where you can ask all your questions: https://bitcointalk.org/index.php?topic=2059117.0

We wish luck to the people working on this project, and also people who will join Auctus community. Don't forget to go to the main web page and read all about it, and then invest to get your AUC tokens: http://auctus.org/

The Auctus Platform will be a global smart contractual platform for pension funds designed to comply with different legal and regulatory standards. With a smart contract auditable code, the platform will ensure full transparency and compliance with funding rules.

Smart contracts will be developed to calculate contributions, employer matching and benefits and other features will be developed, such as investment profiles, determination of beneficiaries (in case of death), management fee calculations and portability between funds.

The first step in our roadmap is to create your own pension fund using smart contracts that will work as Proof of Concept for our platform and help us verify the project. The first intelligent contract-based pension fund will be composed of digital assets while investing in traditional assets and producing solutions to enable adoption with traditional funds.

Details Information :

official webpage: http://auctus.org/

facebook:https://www.facebook.com/AuctusProject

twitter: https://twitter.com/AuctusProject

slack: http://slack.auctus.org/

ANN thread: https://bitcointalk.org/index.php?topic=2059117.0

telegram: http://t.me/auctusproject

Bitcointalk (RyanEncek): https://bitcointalk.org/index.php?action=profile;u=1076774

My ETH : 0xaE5e525E57a6117fa00Ae27b57e94b92B1Bf0c51