Proof of Life - How to construct a blockchain based on pension rights

[Bialke]

Proof of Life - The idea of a blockchain handle pension right as pension points

In Germany we have the system of pension points. It means, if you are a working person, you have to pay in a pension fund. Depending on how you much work and pay into the fond you get a yearly amount of pension points. In the moment each pension point represents the worth of 37,60 Euro pension you get when you stop to quit working.

There are some more aspects:

- Per year you can just get a maximum of 90 pensions points.
- You can just get a monthly pension from your pension points after you retire. The minimum retirement age is 67 years of age. If you retire earlier, you just get a lower percentage of your pension with the same amount of pension points - based on how much years you have worked. The age (67) or a minimum of years (f.E. 45 years, where you paid into the fund) is required to get 100 percent of the pension based of the amount of your pension points.
- The worth of your pension representing by the pension points is corrected every year based on inflation inside the country.
- When you die, the pension points will deleted.


The advantages of blockchain based pension ponts:

- Nearly no bureaucracy is needed. So there are nearly no costs for the bureaucracy and inflation adjustments. It means people get more pension out of the money they payed into the pension fund.
- It is decentral. People can decide for themself in what the pension fund will invest - individually - instead of bankers and fund managers investing people's money and pension interests in their own pockets.

Questions:

- How you could construct a blockchain like that?
- How to solve the age, death-deletion and working years problems?
- How do you proof that a user of the pension points is still alive? (Proof of life)
- How do you protect people for trading or transmit their pension points or their pension?
- How do you solve the inflation problem in the zone/country a worker/pension receiver was working and is living?

I think it is a good idea to bring pension points on a blockchain. I believe this is a real life usecase for a blockchain and a blockchain coin. Is there a blockchain existing right now, which could solve or handle this problem(s)?

If you have technical solutions and ideas, I would love to read your contributions!

Best wishes,

Roland Ionas Bialke

[Bialke]

Blog posting by Vitalik Buterin, July 24th, 2023: https://vitalik.eth.limo/general/2023/07/24/biometric.html

[rat4]

Proof of Life - The idea of a blockchain handle

I had a wonderful dream about killing alle Menschen

Nearly no bureaucracy is needed. So there are nearly no costs for the bureaucracy and inflation adjustments. It means people get more pension out of the money they payed into the pension fund.

Pension is the bureaucracy. A sovereign person can periodically acquire a cryptocurrency, and put it to work in financial applications to offset inflation.

Is there a blockchain existing right now, which could solve or handle this problem(s)?

Many blockchains should be sufficiently programmable to handle proofs of life and death, whatever it means.