A new blockchain-based retirement platform, Auctus, launches its ICO next Tuesday providing users with the opportunity to create a choice of pension portfolios from both traditional asset classes and cryptocurrencies.
In their most recent blog post, Auctus have announced they will also be creating Auctus Labs, a separate development platform which will work alongside its parent company towards replacing existing centralised infrastructure with newer, decentralised components.
Initially, Aragon, Ethfinex, Ripio Credit Network, Request.Network, 0x project, Melonport, Amadeus and Bluzelle will work on integrating key components.
Smart Contract-Managed Investments
Since the demise of the paper share certificate, some investors have become concerned that, despite receiving a contract note, the shares within their pension plan are held in a pool aiding trading liquidity rather than being assigned to them personally.
Although this is arguably beneficial in a rising market, should a stock market crash happen again such as in 1929 or 2008, people may find themselves receiving a smaller percentage of shares in their pension than they currently expect.
Auctus solves this problem of rehypothecation of stocks, where the same share is effectively ‘owned’ by two or more people without their knowledge, by using smart contracts within a trustless marketplace ensuring that asset is indeed owned.
The platform itself also provides information and a transparent fee structure, as well as access to analytic tools and robo advisory, allowing the user to take informed decisions.
Incorporated in the British Virgin Islands, Auctus is seeking to place 106,000,000 AUC tokens and is aiming for a hard cap of 26,790 ETH. This figure includes amounts already raised from strategic investors and a successful pre-sale which itself raised almost a 1,000 ETH from roughly 250 contributors.
Potential investors in this ICO round will need to complete KYC procedures prior to investing.