Auctus Posts Blockchain-Based Retirement Planning Test System

By Allison Bell

News March 09, 2018 at 10:33 AM

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A company that wants to create a blockchain-based retirement planning platform has opened a test version of its retirement planning system up to the public.

Managers of the company, Auctus, say their Auctus Alpha test system shows how a robo advisor might help a user create a personalized investment portfolio.

The system also helps the user "find and follow the best-performing portfolios, with traditional and cryptocurrency assets, made by financial experts," according to a description on the test system website.

A blockchain system uses encrypted, standardized strings of data to store information in an online ledger.

Auctus is basing its retirement planning platform on the Ethereum blockchain standard.

In October, Auctus was describing its platform as the "Auctus Annuity Marketplace." In the latest version of its whitepaper, the company describes the platform as a distributor of "Smart Contract Powered Retirement Plans."

People who want to try the Auctus test system need a good working knowledge of how blockchain-based systems work.

Would-be testers need to install MetaMask, a system for running Ethereum-based programs, on their computers. Would-be testers then have to go to the Ethereum Rinkeby test network and get at least 1,000 test tokens to try the test system.

Instructions for using the test system are available here.

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