Akropolis is a multi-jurisdictional blockchain based technology platform which is designed for the purpose of delivering the pensions, social welfare and end of the service benefits in a transparent manner. The platform will sort out the historical issues which exist inherently in the traditional pension industry. There is a long list of flaws and issues faced by the pension sector and if the issues are not addressed quickly, the whole system will fall apart and will pose a major threat to the global economy.
The traditional pensions system lacks transparency and accountability, the whole structure is standing on the weak foundations of unscientific and unrealistic hypothetical theories. The current pensions structure is getting weakened by rampant conflicts of interest.
Akropolis has combined the most modern technology with pension industry and has created a decentralized and transparent blockchain enabled platform that will connect all the stakeholders including the Individual Users, who use the platform for their pension savings, Pension Funds and Fund Managers without involving middlemen which will make the whole system cost effective and efficient too.
In this section, we will discuss how the Pension Funds are going be benefitted from Akropolis.
The traditional pension system is associated with a host of regulatory and overhead expenses which are related to auditing requirements, business development and monitoring the relationships with Fund Managers. The relationships between Pension Funds and the Fund Managers are very peculiar and face transparency issues at every step, its quite often that mediation by middlemen is required between these two stakeholders and this process leaves negative impact on pension returns. Akropolisplatform is going to bring these benefits to the Pension Funds,
Ø Simple and easy verification of documents from the concerned parties
Ø All formalities fulfilled at a single platform
Ø Easy to engage multiple Fund Manager who have already been verified and gone through platform scrutiny
Ø Able to reduce overheads by simplifying internal staff
Ø Better transparency in relationships with Fund Managers in terms of fee structure brought by blockchain enabled auditing mechanism
Ø Improved efficiency
Ø Access to tamperproof, safe and secure data storage
This is just a brief summary of endless benefits which would be available to the Pension Funds on Akropolis platform but as a matter of fact the list goes on with the time.