Review on Auctus by Cesar Medina
A project dedicated exclusively to retirees with pensions
This platform offers decentralized pension plans, in order to improve some important aspects such as bureaucracy, transparency, as well as reducing costs in its operations.
Smart contracts based on Ethereum are introduced, for the autonomous management of pension funds in a secure and decentralized environment. Since blockchain technology is immutable and decentralized, Auctus provides a completely transparent ecosystem in which both pension fund operators and their clients can easily access their investments and keep track of their pension savings.
By working with Blockchain technology and Ethereum smart contracts, it eliminates the need for intermediaries and ensures that the conditions of the pension funds are met, without interference. Being completely decentralized, there is no entity or group of people that is capable of corrupting the system for their own benefit.
This solves four main problems in the global pension industry, which are fraud, poor governance, contribution collection, data management, and hidden costs.
Overall, Auctus builds a completely transparent and automated block-based pension platform on the Ethereum network. Users will have functions on this platform to track their savings, view assets, make active decisions, and have control of their pension. The processes will be fully automated by Ethereum smart contracts, thus eliminating the potential for mismanagement and at the same time saving operational costs, thus increasing pension returns. Not only will pension holders be able to achieve their pension goals more quickly, they will have the peace of mind that their pension will always be transparent and secure.
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Pros
- Automated and human advice for users.
- Customizable retirement tools and services.
- Decentralize pension plans.
Cons
- There is nothing negative.
