Back to Newsroom
Back to Newsroom

Akropolis is Building a Blockchain Solution to Fight the Impending Retirement Crisis

Monday, 13 August 2018 08:45 AM

GIBRALTAR / ACCESSWIRE / August 13, 2018 / Akropolis, a blockchain-powered pension infrastructure, is developing a protocol to solve the many problems ailing the global pensions system. The company plans to create a single, transparent global system that increases pension plan mobility, reduces friction and incentivizes pension funds to act in consumers' best interests.

''The world's pension systems are heavily compromised and mathematically unsustainable, with fewer young people in active employment supporting an increasing number of retirees. Decreased investment returns and high fee burden are eating away at returns to beneficiaries,'' said Anastasia Andrianova, CEO of Akropolis.

Akropolis, Monday, August 13, 2018, Press release picture

Due to the imbalance between the young and the old, pension and retirement funds across the globe are grossly underfunded and, according to the World Economic Forum, the gap between the assets and liabilities of the world's six largest economies is expected to reach $224 trillion by 2050.

''The world's pension systems are heavily compromised and mathematically unsustainable, with fewer young people in active employment supporting an increasing number of retirees,'' Andrianova added.

Furthermore, due to the system's low mobility and malleability, most pension plans are attached to a specific employer, career or place of residence. Lack of transparency and the ability, or lack thereof, of pension plan beneficiaries to exercise control over their funds are also to blame for the dire state of the global pensions architecture.

To solve the looming crisis, Akropolis connects individuals, fund managers, and institutional finance in one drastically improved ecosystem. With an incentivized system for rating funds and financial entities based on their performance and behavior, cryptocurrency motivates the maintenance of a system where all aspects of a pension are out in the open.

Accordingly, individuals responsible for picking retirement plans for their employees or for themselves can see what a fund is invested in and, more importantly, how capable they are in building a sustainable financial future while honoring obligations.

Contact:

David Gaston
[email protected]
+972-545-464-238

SOURCE: Akropolis

Topic:
Company Update
Back to newsroom
Back to Newsroom
Share by: