Topic: [ANN] Auctus - Smart Contract Powered Retirement Planning - page 39. (Read 54451 times)

Sorry my friend also do not know about this ico, because still follow other project. Maybe you can see the official website, usually there is information about the date in the beginning of this ico

hello dev ,any plan cooperation with ICO Market,thanks sir  ?

hy sir, i'm joining signature campaign of this project, and inside the rules this campaign end after the ICO. but, i don't see ICO period on the thread above. when is it??

The website looks awesome and professional. Good luck.

awesome! thank you for helping to spread the word about our project!

Hi, thanks for sharing your opinion with us.
We are developing a platform for pension funds management and we are using the Ethereum network and its smart contracts as our backbone. What you said ("who knows what there possibly will be instead of the blockchain") could be pointed as a risk factor for any current project being built using Ethereum, not only pension funds. We don't believe the blockchain technology and smart contracts will be replaced by something else. It may become different from what it is today, as the developers are still working on it and bringing more functionalities in, but it still has a lot of space to grow and evolve and there are hundreds or maybe thousands of promising projects being built on it and improving the ecosystem. This technology is at the very beginning and has a brilliant future ahead. I agree with you if you are talking about crypto currencies current prices, it is very difficult to predict what the existing digital coins and tokens will be worth some years from now, so it would be risky to have a retirement fund with only current existing digital assets. But our project is not only about managing a digital assets fund, we are aiming in the long term market revolution. Our platform will begin with a proof-of-concept digital assets retirement fund but later will expand to traditional assets as the tokenization process evolves and smart contracts become more accepted in the "real world".

Russian translation completed - https://bitcointalksearch.org/topic/m.21048954
Bounty topic will be completed soon. Also moderation of russian ANN topic started

The idea sounds good, the only problem I see is the long time it takes for people to become old and get their blockchain based pension. Who knows what there possibly will be instead of the blockchain by then...

Still waiting for the completeness of Auctus in order to follow bounty if the funds spent more than other projects.

Hello, not yet, we are close to announce it, hope you understand, thanks for your support

Is Ico the date  clearly specified ? If you inform me it makes me happy. Good luck, waiting for new informations

Hi virasog! Thanks for posting here, we really appreciate every kind of thoughts and feedbacks from the community, that's what is making our project more solid each day.
I totally agree with you, a good project can't just focus on short term profits and forget the challenges ahead. We are entering a very promising market, as it is worth more than 30 trillion dollars today, and we believe that Ethereum and smart contracts will play a major role in revolutionizing traditional business models in the few next years. I personally think that this kind of market, that currently lacks of transparency and is always being a target of frauds, is what smart contracts are supposed to improve in the near future.
That being said, it will also be very challenging as everything related to blockchain technology is still very new to the general public. But if you think about it, a smart contract-based platform with transparency and easier auditing will be advantageous even to regulators, not only to employers and employees. We won't spare any efforts to keep our mission on track and be prepared for future turnarounds.
Having the challenges we are going to face in mind, we won't sit and wait for the blockchain technology becomes accessible to the general public and wait for other projects to lay ground and make it easier for us. We want to be a part of this revolution and disrupt this market facing the challenges ourselves. That is the idea behind our first pension fund being at the beginning focused in the blockchain ecosystem and digital assets, before we are ready to expand to traditional pension funds and managing tokenized traditional assets.

Hello posternat, thanks for sharing your thoughts.
All you said is true, directly dealing with pensions requires a lot of efforts and resources to handle regulation issues. We have put a lot of thought in our business proposition (and we are still gaining new insights and ideas) and one of the team members, Vinicius, works with pension funds.
It won't be overnight that we will operate our business fully regulated managing traditional assets and being adopted by traditional retirement funds, but we have been following recent changes in traditional business with blockchain and smart contracts slowly moving towards going mainstream and we have drawn a realistic roadmap.
Our first important milestone is the release of our proof-of-concept which is a smart-contract based retirement fund which will not be fully regulated, but instead be used as a showcase to attract traditional funds to joining in. We are at this phase trying to contact potential early supporters (such as other blockchain technology companies) that could adopt this cryptocurrencies retirement fund to help us validate our model.
Legal and regulation issues will be handled in parallel with the development of the platform, and soon we expect to be hire specialized legal firms and also be backed up by traditional funds that have already gone through this regulation problems, and in the long term we will provide them a platform that allows better governance and transparency to manage their funds (we will not manage every pension fund that uses the platform). To provide a platform for pension funds will still require regulation, but it is not the same as directly managing pension funds.
Besides, selling annuities in the Annuity Marketplace is another product that we will work on in parallel and requires less governement regulations. When we release the final version of the whitepaper and set the token sale date some of the new ideas that we are working on will become clear to the community.

Thanks for supporting Auctus Project.

Obviously I don't think that simply using the word pension in association with the service is where that regulation begins, but you need to be careful. This is very simply one of those nice business ideas, you put it out there, it catches on starts making money 5 years down the road you and your business associates are doing very well. And then a knock on the door changes everything.

I don't know where the line is, but there is a certain place where would you start dealing with pensions you're going to have to start dealing with a buttload of government regulations. Even Banks, with Master service banking licenses , have to completely rethink their business model and completely learn a whole new set of regulations if they start dealing with pensions directly.

Excellent work. 

Polish translation:
https://bitcointalksearch.org/topic/ann-auctus-fundusze-emerytalne-wykorzystujce-intelegentne-kontrakty-2102549

Hi, thanks for your question! I think this question is very important and should be answered in two parts: technically and legally.

Technically speaking, we are building a platform for general pension funds that will interact with different/custom smart contracts. We can have a smart contract for each fund, or even more than one contract for a single fund. Each smart contract will define the terms for the specific fund, with vesting rules, employer match, fees, calculus and assumptions, and every other thing that is current defined in paper documents / traditional contracts. So it is easy to have a custom smart contract for a private pension fund and a different one for a public pension fund.

Concerning regulation and legal issues, we can address the two types in parallel. Even though our experience comes from a big public pension fund, it might be more challenging to be adopted by public pension funds at the beginning because of bureaucracy issues. We will start with our own Auctus Retirement Fund as a proof of concept and, with help from legal advisors, expand our platform to meet traditional funds requirements.

Very nice work, thanks for your support.