What is Akropolis?
The name Akropolis was coined from the Greek word “Acropolis” which means upper city. This was known as the first human urban fortification that is located in current modern-day Syria and closely followed by Greece and Rome. A defensive core of a city, within a city. Trying to be true to its name, the platform mission is to address individual needs regarding pension that the current system does not address with its misaligned incentives. The aim is to redress this problem by incentivizing distribution through the use of technology to end users.
Akropolis has the ultimate aspiration of using blockchain in the development of a centralized pension platform with a variety of blockchains such as EOS, Cardano, and RSK to deliver a trustless range of retirement savings products. The leverage of recent technological development with a transparent, portable and accountable pension service to modern workers is one the Akropolis goals.
As a technology platform, Akropolis is designed to address some of the deep-seated structural issues experienced in today’s global pension sector. Akropolis also features a multi-jurisdictional platform for everyday delivery of pensions, future benefits and social welfare in a manner that is simple and in time brings together to new incentive system both end users and large institutional players.
Problems with the current system
Based on outdated assumptions, the current system is rife with conflicts of interests from both players in the pension system while also lacking in transparency and accountability. The Akropolis is using blockchain technology to address this by designing a system through the ground-up approach solution that meets the end user’s needs.
Additionally, the two aspects that make up the pension system (end user and pension institutions) have to be brought together with a coherent protocol. This will enable the creation of a future-proof solution that takes into account how users live, work and consume.
Through the creation of decentralized pensions on the blockchain, the Akropolis platform aims to be the largest pension infrastructure in the world. The provision of a financial future that is safe and built for all people is their goal.
The core vision of the Akropolis project
- To use technology in bringing about a future that is sustainable and increases resilience in the face of future risks.
- To harness the power of blockchain and blockchain tokenization in the creation of transparent and economic efficient coin that uses minimum fee erosion.
- To place a firm control in hand and to the advantage of end users, thereby eradicating the reliance on third parties.
Users of the platform
- End users: These are individual users who are a singular entity or non-institutional individuals that use the platform for pension savings. In blockchain parlance, they are simply referred to as users that are mapped to the collection of public keys via a generating seed.
- Pension funds: They are institutional entities that currently exist or may not exist in the present pension industry. Maintaining their platform and gathering of users is one of their responsibilities. These funds will act as similarly to end users on the Akropolis platform.
- Fund managers: These are entities in pension institutions that are charged with the procurement of assets on behalf of users or pension funds. As a key stakeholder, they must undergo a stringent vetting process to access any entity in the Akropolis platform. They must also give a regular update or report of assets that they manage.
- Asset tokenizers: For the effective functioning of the decentralized system, all assets that are procured on the Akropolis platform must be tokenized. Tokenizers help to hold assets directly or through third parties and also facilitates the minting and distribution process of these tokens through a share of the held asset. They serve as a source of transparency for centralized entities through the creation of tokens which is a key actor in the Akropolis model.
- Developers: These are community members that contribute to the platform. They build an extended and advanced service for pension users.
Benefits of the Akropolis platform
- Provision of a pension record that is secure, immutable and transparent with ease of auditing and real-time feedback.
- Secure peer to peer lending by leveraging the use of smart contracts.
- Monetization of data by users
- A portable, decentralized and single source of pension truth.
- The same protocol for fee and performance reporting.
- A transparent governance protocol and outcomes.
- Presence of a ranking mechanism and incentivized accountability for pension funds to differentiate between good or bad actors.
- A new source of capital pool such as cryptocurrencies.
- A modern product and services that meets users’ needs for real-time data and feedback.
- Tamper-proof data storage for transparency.
- Singular onboarding event.
- Easy verification of document and authentication of counterparties.
ICO and token distribution
The total token supply is 900 million, and a token goes for $0.069. The hardcap is 25 million USD with a supply of 360 million tokens for sale. Token will be distributed to investors, teams, advisors, marketing team, and bounties. Two main tokens (Akropolis internal token and Akropolis external token) will be used on the platform. The external token is a fixed supply token whose price will be determined by market forces, while the external token is an arbitrary one. They are simply denoted as AIT and AKT respectively.
Website : https://akropolis.io/
Whitepaper : https://view.attach.io/HJQ3yvpcM
Telegram : https://t.me/akropolis_official
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