Auctus ICO Review
Auctus cryptocurrency is bound to become the world’s first blockchain based retirement platform. The platform is designed to allow portfolios which are normally made up of traditional asset classes and cryptos.
This crypto is designed to empower the retirement saver and provide all the information needed in order to make well-informed decisions. The platform will utilize Ethereum smart contracts and robo-advisory to effect the desired changes in this financial field.
How does the platform work?
Auctus platform offers the user an aggregate view of all the retirement savings including voluntary traditional retirement plans, government regulated plans and also crypto wallets. The team behind this crypto believe that with a holistic view, users will be able to make well-informed and long-term strategic decisions. Among the benefits that advantages to be enjoyed include;
- Fee transparency
- Smart contract powered fee structure
- Blockchain Robo and Human advisor tracking record.
- Decentralization of ownership, operational and decision-making processes
- Understand Auctus better
Auctus crypto is registered in the British Virgin Islands. The overall (AUC) supply is 80 million while the tokens available for sale are 40.8 million. It is an ERC20 type of token and has a soft capital of $3 million and a hard capital of $20 million. In June 2017, Auctus started operations and in September the same year, a Demo release was made.
A presale of the token was made in Oct while the main token sale was made in scheduled to be done and completed later in the month of March 2018.
The use of the token
One of the key features of the Auctus crypto is the use of smart contract auditable code. This code will help the platform achieve full transparency as well as compliance with the fund’s rules. The applicability of the Ethereum based smart contracts allows for the employer matching, contributions, selection of profiles and even the registration of beneficiaries. In other words, the Auctus is designed to replace the entire pension fund management structure. The entire financial management middleman is replaced with a blockchain and this will lead to lower costs, improved transparency, efficient investment fund management and better security.
This crypto is not accessible by traders in a number countries among them the USA, South Korea, Kuwait, China, and Singapore. When one looks at the ICO, one can actually feel the ambitious drive. However, there are several vague things about the crypto which can easily make an investor back off. The roadmap is pretty sketchy and while the business concept of the crypto is solid, there just isn’t enough evidence offered by the team to show how capable the platform will be to help solve the said retirement fund management.