Akropolis is a blockchain-based platform that aims to address the structural issues in the global pensions sector. The team behind the platform aims to for it to be used across multiple jurisdictions to deliver pensions, social welfare, and other future benefits in a way that is portable. Eventually, it should connect large institutional players and individual end users with a new system that includes incentives.
What Issue Does Akropolis Solve?
Akropolis aims to tackle the issues related to the pension deficit, which has an impact on the aging populations around the world. On its website, Akropolis cites several reports that show the sad state of pensions around the world. One report from the World Economic Forum says that 48 percent of the population at retirement age does not receive a pension. Additionally, this report says that the global retirement savings gap will reach $400 trillion by 2050, compared to the $70 trillion it was at in 2015.
Another report Akropolis cites is from CitiGroup. That report analyzed 20 OECD countries, paying attention to the typical level of government pension liabilities that were unfunded, and found the average was about 190 percent of the GDP. By comparison, the reported total of governmental debt is just 109 percent of the GDP.
Based on these reports and other similar information, the Akropolis team realized that there is not a solution in place to resolve this fundamentally flawed pension system.
How Does Akropolis Resolve the Issue?
Akropolis has the goal of reducing and potentially eliminating the flaws in pension funds around the world by creating a new smart-contract-based pension fund infrastructure that is immutable and transparent. This will ideally change how we as people think about investing and saving.
Overall, Akropolis hopes to become the biggest alternative pension infrastructure globally. It will be making decentralized pensions on the blockchain to ensure a safer financial future for everyone.
What Is the Vision of Akropolis, and How Will the Platform Achieve It?
As mentioned, the biggest goal of Akropolis is solving the worldwide problem of a pension deficit. To achieve its goal, Akropolis uses technology to create increased resilience against unforeseen risks and create a more sustainable future. Using blockchain and tokenization, Akropolis delivers economic efficiency and transparency, along with minimum erosion from fees. Users are in control of the process and platform instead of the traditional method of relying on third parties.
There is a total token supply of 900,000,000 tokens. This is allocated with 40 percent going to the token sale, 20 percent for the team (with vesting), 20 percent for the reserve fund and partnerships, 10 percent for advisors and early supporters, and the final 10 percent for marketing and ecosystem development.
You can view a detailed chart on the Akropolis website outlining the token utility. The token will be used for smart contracts, the action/bidding engine (including the pricing module and the marketplace reputation module), and the cross-chain functionality. Individual users will use the tokens as capital to access premium and free services, earning rewards in return, with their main connection to smart contracts. Institutional users will mostly connect to cross-chain functionality and access capital and users with the tokens accessing data, capabilities, and services.
Fund managers, advisors, and operators will focus on services, using the tokens to access new capital sources and new clients and receiving management fees. They will mostly connect with the auction/bidding engine. The developer community will also connect mostly to the auction/bidding engine, accessing tools and talent. This community will use the Akropolis tokens to access the opportunities and development tools in the ecosystem and to earn rewards.
Akropolis Token Sale
There is currently a waitlist for the Akropolis token generation event that you can easily join with your email address. Out of a total token supply of 900,000,000, up to 360,000,000 will be for sale, which is 40 percent of all tokens. The hard cap for the token sale is set to $25,000,000. The token price will be $0.069 USD, with the USD/ETH rate locked at 48 hours before the token generation event. The vesting period for team and advisor tokens will be 18 months.
The proceeds of the token sale will be divided, with 50 percent going to talent and technology. An additional 15 percent will go to partnerships, 12.5 percent to legal and regulatory, 10 percent to marketing, 10 percent to operations, and 2.5 percent as a contingency.
What Does the Akropolis Roadmap Look Like?
During Q3 and Q4 of 2017, Akropolis had its angel funding round and reached the pre-sale soft cap. It also drafted its whitepaper. During Q1 of 2018, it published the whitepaper, developed and audited its smart contracts, signed strategic partnerships, and deployed the MVU on its testnet.
Now, in Q2 and Q3 of 2018, the token generation event will be scheduled and tokens distributed. Akropolis will also sign institutional partnerships, finalize the technical architecture, and deploy the MVP with trial clients. Following this, Q3 and Q4 will see the B2C Beta product released for early adopters in a private group plus completion of the B2B product prototype.
In Q4, the full-featured platform layer will be integrated with the front-end products on the mainnet. The B2B pilot service will be ready for launch with a select group of institutional users. Akropolis will also onboard the selected pension fund asset managers, allow trail users to participate in the B2C product with a limited basis, and near completion for the QA for iOS and Android apps. In 2019 and beyond, Akropolis will have two independent auditors complete a full audit on its smart contract library, release the platform’s first version, have the hardware wallets ready, and release the external API for third-party add-ons.
Akropolis aims to change the way we deal with pensions, addressing the major issue of a pension deficit that is found around the world. It will create infrastructure for pensions using the blockchain to allow for an improved financial future for those around the world.