Auctus simplifies retirement planning with blockchain-based platform

Retirement planning is, by different estimates, a $36-50 trillion global market. But because today, retirement investments are primarily controlled by third parties there is little to no transparency, and it is often unclear how you’ll benefit when it comes time to collect the payouts from your plan.

The team at Auctus is determined to disrupt the multitrillion pension industry and believes blockchain is the answer to that problem. Auctus is busy building an Ethereum smart contract based pension platform that will unite traditional and cryptocurrency assets and will use smart contracts to eliminate intermediaries in the retirement planning process, thus reducing fees.

 

The platform

The Auctus platform is designed to simplify retirement planning for an average citizen. It’s geared towards guarding users, who may have little knowledge of financial matters, against making wrong long-term decisions.

On the platform, users get a choice of template portfolios versus individual portfolios. Individual portfolios are more flexible but come with a higher risk, therefore more suitable for experienced savers. If unsure what portfolio to choose, users can ask financial experts and their services are paid in AUC tokens only if their advice turns out to be sound. When the expert provides portfolio suggestions and predictions, users will pay only when those predictions are correct.

Besides that, to reduce risks, certain features (such as high volatility portfolios) are disabled for inexperienced users. With analytic tools helping to recognize risks by showing easy to understand metrics, the platform advises users to hold a passive long-term strategy and avoid making rush decisions.

 

Progress

In February 2018, Auctus joined the Enterprise Ethereum Alliance (EEA), the world’s largest open source blockchain initiative with over 250 member companies. This move will help the team enhance their products, services, and token offerings and support the adoption of Ethereum.

Auctus also released a demo version of the Auctus Platform prior to their November 2017 ICO and later the alpha version, and published the backend code on Github. The beta release is planned for Q3 2018.

Auctus’ token sale started on March 27, 2018 and is open till March 30 to global users, excluding those in the U.S., Singapore, Gibraltar, Kuwait, South Korea, and the People’s Republic of China.

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