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[ICO REVIEW] What is Akropolis? The solution to the Global Pensions Issues?

Đăng bởi: Alice  - 24/08/2018 - 325 view
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[ICO REVIEW] What is Akropolis? The solution to the Global Pensions Issues?

 

*Disclaimer: This is sponsored article. All the information is for reference only. Always DYOR “Do you own research” before making any investment decision. Cryptocurrency investment is a venture capital investment. You should only invest with your idle capital

 

The current pension fund structure is outdated, has conflicts of interest and lacks transparency. This can cause many retirees to be underfunded and result in a major financial crisis. Akropolis is born with a vision to solve this world-wide pension deficit problem.

 

1. General Information

Website: https://www.akropolis.io/

Whitepaper (draft): https://view.attach.io/HJQ3yvpcM

Telegram: https://t.me/akropolis_official

Ticker: AKT

Type: ERC20

Hardcap: $15 million (or 30,000 ETH)

Total Token Supply: 900,000,000

Fund raised in presale: 22,000 ETH

Public sale: September, 2018 (in plan)

 

2. What is Akropolis?

Akropolis is a platform that aims to address the the outdated structural issues of the worldwide pensions sector that is rife with conflicts of interest and lacks transparency and accountability by building a new global immutable and transparent smart-contract-based pension fund infrastructure and a sector-specific blockchain agnostic protocol.

 

3. Akropolis Token

Akropolis platform is built on Ethereum blockchain so Akropolis token (AKT)  will be ERC20. The AKT token will act as an access token and will facilitate the function of users participating in the system. Akropolis users will completely control their pensions without the need for a third-party. Individuals may allow various Akropolis platform parties to access some or all of their private data and receive AKT tokens as a reward. These tokens will subsequently be added to the individual’s pension.

Token utilities

  • Individual users: access to free and premium services; Rewards.
  • Fund Managers: access to new clients and new sources of capital; Management fees.
  • Institutional users: access to data, services and capabilities.
  • Developer community: access to ecosystem development tools and opportunities; Rewards.
  • Asset Tokenizers: hold asset directly or through verifiable third- parties

 

Token Distribution

 

4. How does Akropolis work?

As mentioned before, the Akropolis platform is built based on Ethereum with the ultimate goal of becoming blockchain agnostic. In the Akropolis platform, there are 5 agents including Individual Users, Developers, Fund Managers (FMs), Asset tokenizers and Institutional Users. Akropolis platform will provide an efficient gateway between these agents by building a flexible, regulatory compliant, and transparent protocol. The tokenization of pension assets will enable new ways for individuals to engage with their holdings and for Pension Funds (PFs) and Fund Managers (FMs) to engage with clients. In detailed, the FMs conduct is enforced through a number of incentive mechanisms to obtain an optimal outcome for all participants. Besides, FMs build a portfolio of assets tokenized on the blockchain and distributed to investors. Then the investors maintain a global, portable, on-chain portfolio representing their pension investments. Individual users can monetize their own data and earn rewards by performing specific tasks while PFs and FMs will be staking tokens and paying fees to use the platform. Staking the tokens for access will ensure that the FMs who enters the platform will be good agents.

The tokenization of value allows Akropolis to leverage blockchain technologies to automatically enforce various compliance rules specialised to specific assets and geographic regions. Incentive structures incorporated into the platform will also be built on-chain, though it is necessary for dispute resolution mechanisms and procedures to initially be managed centrally by the Akropolis Foundation. This arrangement will act as a stepping stone and future implementations will aim to decentralise these dispute resolution components, to the extent that this is compatible with regulatory demands.

Importantly, although an individual user will have a single account that is tied to their identity, the totality of the user's on-chain operations will not be tied directly to a single identity address public key. Instead, the user's transactions will be pseudo-anonymous, similar to identities on various cryptocurrency systems, such that each new transaction or class of transaction is tied to different addresses generated by a single seed.


In the Akropolis platform, there are 2 types of data which are classified as “on-chain” data (public data) and “off-chain” data (private data). The private database will contain sensitive corporate information and personally identifiable information while the public database will provide data storage and processing for account-keeping, gate-keeping, and staking and voting. Through the combination of both on-chain and off-chain architecture, Akropolis platform will allow a more cost-effective and secure solution while still ensuring that platform users maintain sovereignty over their private and personal information. The auditability and immutability nature of blockchain in Akropolis will make all transactions more convenient and efficient.

 

5. Roadmap

 

The milestone of Akropolis has been released with detailed information. We can easily know what the team are working on and follow the project. Their presale ended shared allocation for those who will contribute to the project development. They raised 22,000 ETH during the presale. Public sale is going to be launched in September. And the product is expected in 2019.

 

6. Prototype

The MVP has already been deployed on testnet. However, the source code will be kept private initially and released in the open domain overtime. The team are currently finalizing audits and independent checks before they make it open.  The beta product is planned to be released by the end of 2018.

 

7. Team

There are 11 members mentioned in the website, in which there are only 4 technical engineers. Below are some information of the core members.

 

 

Anastasia Andrianova: Founder & CEO

She is currently an advisor to The Bee Token, and Web3 Foundation. She is also a FCA-regulated fund management professional and a board member of a regulated private equity fund. Furthermore, she is a member of the Blockchain Ecosystem Network.

Sandra Wu: Senior Advisor to the CEO and General Counsel
Sandra has over 10 years of legal experience in M&A, corporate & securities law, and private equity fund formation. She was previously the Head of Legal and Chief Compliance Officer for a global asset management company managing more than USD 23 billion under advisement in the Asia Pacific region. She has worked for the Mercer Fund Foundation and Weil Gotshal & Manges.

Peter Robertson: Pensions Lead
Peter has over 25 years of experience in asset management and life insurance in Europe, North America and Asia. He worked as an interim CEO, developing a new UK investment proposition, D2C distribution strategy, and the evolution of UK advice, auto-enrolment and platforms. Previously, he played an important role in startups in UK, Germany, India and China.


Mehdi Zerouali: Cybersecurity Lead
Previously, Mehdi performed hundreds of penetration tests on corporate networks and applications across a range of industries including financial services, telecommunications, and the public sector. Mehdi's professionalism and expertise resulted in his rapid rise to management in EY's Advanced Security Centre. Mehdi started working on the area of blockchain technology, especially the Ethereum platform when he joined Sigma Prime. 

Victor Wiebe: Blockchain Developer

Victor has built apps for Intel and ESPN. He worked at Trimble Inc, where he created emergency response software that kept lone workers, north of the arctic circle, safe over satellite. We would like to note that Victor does not have significant exposure to blockchain development. He graduated from the University of Calgary.

 

8. Advisors

There are 8 advisors listed on the website. The advisory board looks really strong, with many significant names such as Ros Altman (former UK Minister of State for Pensions), Kate Kurbanova (Head of Analytics at Cindicator) and Steven Reynolds (former Community Manager at Binance).

 

9. Partners

There are 5 organizations listed on website as Akropolis’ partners namely Isolas, Kinetic Capital, King and Wood Malessons, Sigma Prime, Prime Block Capital. Kinetic Capital, one of the most influential global blockchain investment funds, has invested many famous projects such as Ethereum, OmiseGO, 0x, ICON, and etc.

Besides, Akropolis has built partnership with Tenzorum with the aim of  fulfilling their mission in building the world’s most secure and user-friendly pensions platform for the next generation. Akropolis collaborates with Lightstreams with the aim of developing alternative use case applications, which will enable them to attach private information to smart contracts while retaining confidentiality when handling individuals’ digital pensions and savings wallets. Moreover, Akropolis has joined Cindicator’s Symbiotic Network to get access to the collective intelligence of financial analysts, data scientists, traders, investors as it develops a global blockchain infrastructure for the pensions industry. 

 

10. Competitor & Challenges

There are not so many projects in this space so there may be a project considered Akropolis’ competitors, Auctus (did a good job in price actions after the ICO). It focuses on retirement plan platform with traditional and cryptocurrency assets, powered by smart contracts & robo advisory while Akropolis is creating decentralised pensions on the blockchain and a safer financial future for humanity with a new immutable and transparent smart-contract-based pension fund infrastructure. The pension industry is a heavily regulated sector and requires lots of institution and government approvals. Therefore, the main challenge for all projects like Akropolis and Auctus would be getting governments and society to accept blockchain-based platforms for retirement savings.

 

11. Verdict

Akropolis is a highly ambitious project targeting a global pension problem. The team behind the project is well experienced and come from many famous firms

Akropolis’ community is not quite good because they are launching bounty programs to appeal the community and make the community more active. The most challenge this project has to overcome is the government policies about pension, so definitely this is a long- term idea to be addressed.

 

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