[ANN] Auctus - Smart Contract Powered Retirement Planning

[zhongzy]

This ANN thread is now available in Spanish too. If you prefer to read it in this language you can visit it

Link to the Spanish ANN thread: https://bitcointalk.org/index.php?topic=2093789.0

By the way, interesting project to follow the track. Keep the good work!

Spanish Whitepaper still not available, let's wait for the final release.

Excellent work. Thanks

great work ,Auctus  team looks very professional. The project is considered to be the best . it worth you to do it

[Mercedes]

This ANN thread is now available in Spanish too. If you prefer to read it in this language you can visit it

Link to the Spanish ANN thread: https://bitcointalk.org/index.php?topic=2093789.0

By the way, interesting project to follow the track. Keep the good work!

Spanish Whitepaper still not available, let's wait for the final release.

Excellent work. Thanks

great work ,Auctus  team looks very professional. The project is considered to be the best . it worth you to do it

pretty agreed ,i am wathing this project for a lot time ,and take part in spread Auctus  campaign.

[Lunar Crank]

So what? The date of begin ICO is still unknown? Because I can't find this information... Does anybody know?

[arthurbonora]

Muito bom o projeto, descobri recentemente tratar-se de um projeto brasileiro, fiquei muito feliz, pois precisamos avançar em matéria de blockchain para além de exchanges em bitcoin, já temos algum post oficial em português? e um site br?

Muito obrigada Arthur! Estamos muito orgulhosos de sermos um dos primeiros explorando a tecnologia de smart contracts aqui no país.
Temos sim uma thread em português (https://bitcointalk.org/index.php?topic=2045522.0), só ainda não adaptamos para o novo design, mas vamos em breve! O site está em desenvolvimento e por enquanto somente em inglês, mas assim que fecharmos o formato final lógico que teremos em português sim! Se quiser participar das discussões com nossa equipe pode entrar no slack (https://join.slack.com/t/auctus-project/shared_invite/MjEzOTA0MzkwMzg5LTE1MDAzMDMzMTEtYTIxMDczNjc3MQ), temos uma thread separada para discussões em port. Eu (Ludmila), Vinícius, Daniel somos todos cofundadores e ficamos ativamente por lá para responder todos os questionamentos e dar notícias em primeira mão. Te aguardo!

Muito bom, já entrei no slack, e coloquei a thread br em watch, sucesso ao projeto!

[viniciusfbm]

So what? The date of begin ICO is still unknown? Because I can't find this information... Does anybody know?

We didn't announce it yet, but we are going to set it soon, we are working on our demo ,You can follow our development progress on our github: https://github.com/AuctusProject/Demo

As soon as we know exactly which date we will be able to launch it, we will announce our pre-ico and ico dates.

[DuarteFig]

So what? The date of begin ICO is still unknown? Because I can't find this information... Does anybody know?

We didn't announce it yet, but we are going to set it soon, we are working on our demo ,You can follow our development progress on our github: https://github.com/AuctusProject/Demo

As soon as we know exactly which date we will be able to launch it, we will announce our pre-ico and ico dates.

Besides working on the development we will also shortly release the final version of the whitepaper and the website. Some of our potential partners still haven't received the current draft as we are waiting for the final revision to spread it around.

Everyone in the team is working hard, there is a lot to do because it is a very challenging and disruptive project, but each day we become more confident as new ideas and feedback from community come in.

Please participate posting here any doubts related to our mission and even critics because it is very important to us to keep it clear and get constant feedback from the community.

[AuctusProject]

looks like a good project, going to more

Thank you! Join us on slack and follow on twitter to keep updated!

Slack: https://join.slack.com/t/auctus-project/shared_invite/MjI2OTAyNjMxNDkzLTE1MDI4MDAzNDUtOGY1NDM4MWNkMg
Twitter: https://twitter.com/AuctusProject

[erikalui]

Hindi ANN: https://bitcointalk.org/index.php?topic=2099298.new#new

[mkmdoc]

Smart Contract Powered Pension Funds is a completely different way for both the public and private sectors companies.
I think there is any sort of Pension Funds for private sectors then how you are going correlate both of them in Blockchain.

[viniciusfbm]

Hindi ANN: https://bitcointalk.org/index.php?topic=2099298.new#new

Very nice work, thanks for your support.

[DuarteFig]

Smart Contract Powered Pension Funds is a completely different way for both the public and private sectors companies.
I think there is any sort of Pension Funds for private sectors then how you are going correlate both of them in Blockchain.

Hi, thanks for your question! I think this question is very important and should be answered in two parts: technically and legally.

Technically speaking, we are building a platform for general pension funds that will interact with different/custom smart contracts. We can have a smart contract for each fund, or even more than one contract for a single fund. Each smart contract will define the terms for the specific fund, with vesting rules, employer match, fees, calculus and assumptions, and every other thing that is current defined in paper documents / traditional contracts. So it is easy to have a custom smart contract for a private pension fund and a different one for a public pension fund.

Concerning regulation and legal issues, we can address the two types in parallel. Even though our experience comes from a big public pension fund, it might be more challenging to be adopted by public pension funds at the beginning because of bureaucracy issues. We will start with our own Auctus Retirement Fund as a proof of concept and, with help from legal advisors, expand our platform to meet traditional funds requirements.

[Jan Marcin]

Polish translation:
https://bitcointalk.org/index.php?topic=2102549.0

[xyj790204]

Polish translation:
https://bitcointalk.org/index.php?topic=2102549.0

Excellent work. 

[posternat]

I don't know where the line is, but there is a certain place where would you start dealing with pensions you're going to have to start dealing with a buttload of government regulations. Even Banks, with Master service banking licenses , have to completely rethink their business model and completely learn a whole new set of regulations if they start dealing with pensions directly.

[virasog]

Obviously I don't think that simply using the word pension in association with the service is where that regulation begins, but you need to be careful. This is very simply one of those nice business ideas, you put it out there, it catches on starts making money 5 years down the road you and your business associates are doing very well. And then a knock on the door changes everything.

[viniciusfbm]

Polish translation:
https://bitcointalk.org/index.php?topic=2102549.0

Thanks for supporting Auctus Project.

[DuarteFig]

I don't know where the line is, but there is a certain place where would you start dealing with pensions you're going to have to start dealing with a buttload of government regulations. Even Banks, with Master service banking licenses , have to completely rethink their business model and completely learn a whole new set of regulations if they start dealing with pensions directly.

Hello posternat, thanks for sharing your thoughts.
All you said is true, directly dealing with pensions requires a lot of efforts and resources to handle regulation issues. We have put a lot of thought in our business proposition (and we are still gaining new insights and ideas) and one of the team members, Vinicius, works with pension funds.
It won't be overnight that we will operate our business fully regulated managing traditional assets and being adopted by traditional retirement funds, but we have been following recent changes in traditional business with blockchain and smart contracts slowly moving towards going mainstream and we have drawn a realistic roadmap.
Our first important milestone is the release of our proof-of-concept which is a smart-contract based retirement fund which will not be fully regulated, but instead be used as a showcase to attract traditional funds to joining in. We are at this phase trying to contact potential early supporters (such as other blockchain technology companies) that could adopt this cryptocurrencies retirement fund to help us validate our model.
Legal and regulation issues will be handled in parallel with the development of the platform, and soon we expect to be hire specialized legal firms and also be backed up by traditional funds that have already gone through this regulation problems, and in the long term we will provide them a platform that allows better governance and transparency to manage their funds (we will not manage every pension fund that uses the platform). To provide a platform for pension funds will still require regulation, but it is not the same as directly managing pension funds.
Besides, selling annuities in the Annuity Marketplace is another product that we will work on in parallel and requires less governement regulations. When we release the final version of the whitepaper and set the token sale date some of the new ideas that we are working on will become clear to the community.

[DuarteFig]

Obviously I don't think that simply using the word pension in association with the service is where that regulation begins, but you need to be careful. This is very simply one of those nice business ideas, you put it out there, it catches on starts making money 5 years down the road you and your business associates are doing very well. And then a knock on the door changes everything.

Hi virasog! Thanks for posting here, we really appreciate every kind of thoughts and feedbacks from the community, that's what is making our project more solid each day.
I totally agree with you, a good project can't just focus on short term profits and forget the challenges ahead. We are entering a very promising market, as it is worth more than 30 trillion dollars today, and we believe that Ethereum and smart contracts will play a major role in revolutionizing traditional business models in the few next years. I personally think that this kind of market, that currently lacks of transparency and is always being a target of frauds, is what smart contracts are supposed to improve in the near future.
That being said, it will also be very challenging as everything related to blockchain technology is still very new to the general public. But if you think about it, a smart contract-based platform with transparency and easier auditing will be advantageous even to regulators, not only to employers and employees. We won't spare any efforts to keep our mission on track and be prepared for future turnarounds.
Having the challenges we are going to face in mind, we won't sit and wait for the blockchain technology becomes accessible to the general public and wait for other projects to lay ground and make it easier for us. We want to be a part of this revolution and disrupt this market facing the challenges ourselves. That is the idea behind our first pension fund being at the beginning focused in the blockchain ecosystem and digital assets, before we are ready to expand to traditional pension funds and managing tokenized traditional assets.

[Meteeray]

Is Ico the date  clearly specified ? If you inform me it makes me happy. Good luck, waiting for new informations

[viniciusfbm]

Is Ico the date  clearly specified ? If you inform me it makes me happy. Good luck, waiting for new informations

Hello, not yet, we are close to announce it, hope you understand, thanks for your support