Auctus announces Advisory Board and releases Pension Demo

Auctus, who is aiming to revolutionize the retirement industry by using blockchain's transparency in order to put retirement savers back in control, recently released its first demo.

According to their blog post, the demo is "an application which simulates smart contract powered retirement plans, with investments in cryptocurrency and traditional assets." 

Being deployed on Rinkeby Ethereum Testnet, it is possible to create a company and allocate funds to different assets, building a 401K retirement plan, as well as simulate withdrawals and check vesting. The team encourages the eintre community to participate in the development, by accessing their Github page and making suggestions. It's important to reinforce that the purpose of the demo was to illustrate the smart contract generation and a basic dashboard.

Since the addition of the new Advisory Board, consisting of pension attorney Eric Paley from Nixon Peabody, Adam de Greetis from the international law firm, Shah Seyfarth, UNC finance professor Steven Clark and PensionTech entrepreneur and mentor Martijn van Eck, Auctus' business model has been revised from targeting retirement funds, to directly targeting the retirement savers, thus making their token model far stronger.

In accordance with the new business model, the next step on the roadmap is to deliver an alpha version of the platform.

Auctus has launched a mandatory whitelist for their token sale at auctus.org.