Auctus (AUC) is the world’s largest pension blockchain-based planning platform, allowing users to create diversified portfolios, including traditional asset classes and cryptocurrencies. Auctus’ mission is to empower retirement savers and provide the information needed to make informed decisions using Ethereum smart contracts and advisory robots.

The Auctus Platform is a global smart contract-based pension, goal-directed savings platform with specialized portfolio management services for traditional bond and stock investments, as well as like crypto investment.

The platform provides users with a consolidated view of all retirement savings ranging from Government-managed IRA/401k plans, voluntary traditional retirement plans as well as crypto wallets . Only with this holistic view can informed decisions and a professional long-term strategy be established.

Advantages:

• Smart contract support fee structure
• Robot and human advisor track record in blockchain
• Transparency
• Decentralize ownership, decision making, and operational processes

How does AUC work?

The main feature of Auctus is the use of code-checking smart contracts. The platform uses this code to ensure transparency and full compliance with the platform’s regulations. Smart contracts also enable contribution calculation, labor matching, benefits and other features – including record investment selection work, benefit donation, compute management and mobile computing between funds.

Essentially, Auctus’ smart contract and blockchain-based system replace the entire fund management structure.

It removes middle management by itself and replaces it with blockchain. The end result is reduced costs, providing better security, more transparency, and more efficient funds to those who truly trust the platform.

What is the AUC used for?

AUC will be the utility token at the heart of DeFi products developed by Auctus.

• Redemption and burning of AUC tokens is equivalent to 100% of the fees charged on Auctus DeFi products
• Discounts and other discounts on Auctus DeFi products
• Unlock exclusive features by holding AUC

What problem does Auctus seek to solve?

Auctus developers believe today’s pension fund industry can benefit from the chaos. Here are some industry issues, as identified in the Auctus ad:

Poor governance:

Poor governance practices in the pension fund industry lead to underperformance. Auctus believes that a system with full transparency will facilitate the control of regulators and participants, thereby promoting better governance.

Collect donations:

Platforms do not have a standard donation collection process, which often leads to operational issues. Keeping records of transfers can be a problem for smaller retirement funds. Large pension funds don’t have this problem, but they still need to maintain high-cost systems to manage transaction records.

Hidden costs:

Not all pension fund participants are aware of the costs associated with their pension. Management fees are just one type of expense. Other costs include transaction fees, asset management fees, reporting costs… all these costs are hidden. They reduce the net return on investment and can significantly reduce the amount retirees can receive – and many investors do not fully understand these fees.

Scam:

About 20% of pension funds have reported fraudulent activity over the years, according to the Auctus report. Common scams include stealing money, ghost accounts, and trading fraud.

Data management:

Data management is crucial to any investment fund. However, existing systems make it difficult for administrators and authorized parties to trust the available data.

These problems get worse over time. Auctus cites problems like the 2008 financial crisis and an aging population as reasons the pension fund industry is struggling to compete. Auctus aims to solve these problems using the Ethereum blockchain and smart contracts.

Development team

Vinicius Melo – Head of Strategy Department

Formerly an investment analyst. Vinicius used to work at one of the big Brazilian pension funds (FUNPRSP-JUD). He holds the Brazilian Certificate of Investment Analyst.

Vinicius also holds a Bachelor’s degree in Mechanical Engineering.

Thiago Araujo – Senior Software Engineer

Thiago has 10 years of experience as a software engineer. Before joining Auctus, he led a lot of large scale software while working at Dti Digital.

Thiago holds a Bachelor’s degree in Automation and Control Engineering.

Ariny Guedes – Lead Ethereum Engineer

Ariny has more than 10 years of experience as a Software Engineer, 7 years working at Dti Digital. He is an expert in C#, Java, C++ and the Ethereum blockchain.

Ariny holds a Bachelor’s degree in Automation and Control Engineering.

Iuri Santos – Head of UI/UX Design Team

Iuri has over 10 years of experience as a user experience designer. He is responsible for discovering and developing ways to design and improve the user experience.

Iuri holds a BA in Public Relations.

Conclude

Auctus aims to beat foundation works by using blockchain technology. Today’s industry is often not transparent, so investors and military retirees often struggle with retirement planning because it is difficult to determine how much money they will spend in retirement.

That’s where Auctus saw an opportunity for himself. Auctus uses Ethereum blockchain and smart coins to provide full transparency, immutability, security and automation of processes. All land fund rules are encoded in the smart coin for increased compliance and regulation. Blockchain acts as an intermediary, which means lower input costs. That leads to lower overall costs and better profits.

You can see the AUC price here.

According to AZCoin News

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