Social Security Funds In A Better Hand Powered By Asure Network
The world financial system is evolving as the inception of blockchain over a decade ago has impacted so much on the global financial transaction. I was perusing the cyber world and came across a concept that makes financial sense to me and would relish my friends to ken about it. I am verbalizing about Asure Network with their token to be kenned as ARS. Asure Network concept works with gregarious security system over countries. Asure network website is https://asure.network
The Asure Blockchain will be a performant and secure proof-of-stake predicated blockchain that enables high transaction throughput at a low cost, which would be compulsory for implementing blockchain predicated convivial security systems within countries. The Asure Blockchain is built on top of Substrate, a blockchain framework developed by the Web3 Substratum / Parity Technologies. Substrate provides a great abstraction of prevalent blockchain functionalities and sanctions us to reuse prevalent features, innovate more expeditious, and develop incipient modules that solve quandaries within the domain of convivial security systems. Asure works with indemnification and pension funds for sole purport of ascertaining that integrity and fraud proof financial transaction is achieved. Pension systems today are an essential part of the economic development of states and yet, there are 4.1 billion people without access to convivial security these set of people are those Asure network intends to take care of. There are noted quandaries that is innate on the old pension system which asure network wants to address includes
Good old-age provision is hard to build.
In the following let us optically canvass some of the challenges of old-age provision and subsisting pension systems. Demographic change.
Life expectancy is incrementing all over the world, and especially in industrialized nations, the proportion of people over the age of 60 is growing and the quandary of retirement provision is becoming more pressing. The encumbrance on pension systems, and in particular PAYG-funded pension schemes, is elevating sharply as fewer contributors become available to provide pension payments. The population of developing countries will increment in the future, and thus the quandary of retirement provision. For example, the Coalesced Nations estimates that by 2050, approximately two billion people will be over 60 years of age, of which as many as 80% live in developing countries .
Inflation.
In economics, inflation refers to a general and sustained increase in the price level of goods and accommodations (inflation), identically tantamount to a minimization in the purchasing power of mazuma. The consumer price index (CPR) is most frequently used to quantify inflation. The index is calculated with the avail of a shopping basket, which is tenacious in a certain year (base year) representative of an average household. [6] At an inflation rate of 2% per year, this denotes that if you have a $ 1,000 today, in 2040 this amount of mazuma has only a purchasing power of $ 672.97 in 2040. For this reason, it is paramount not to store the values, but to endeavor to systematically preserve purchasing power by designates of a pay-as-you-go system
Mismanagement and fees.
Compared to pay-as you-go systems, funded systems are very vigorously subject to inflation. For this reason, different investment options are utilized, these have a higher workload and resulting administrative costs the customer must bear. Another variable is the higher volatility, it increments the chance that the investments are made well as well as the peril that lamentable investments can be made. Instrumentalization by politics. Gregarious security funds are in the hands of politicians and public coadjutants. Politicians can utilize convivial indemnification funds for electoral promises by redistributing them in favor of a group of voters, thus ascertaining the next re-election. In additament, regimes conspicuously benefit from more cash and power hence they endeavor to amend their image through social security administration. Last generation. With pay-as-you-go systems, it is paramount to ascertain that there is a next generation, if this is not the case, the last generation will lose the most in the system as nobody is left to pay their pensions. Residual jeopardy. We do not optate to go into detail about other risks such as economic jeopardy, credit peril, interest rate peril, volatility, currency peril, psychological market jeopardy, liquidity peril, tax peril, information jeopardy, country and transfer jeopardy. Different pension schemes entail major jeopardies, this is in the nature of peril-oriented systems. The solutions to that are predicated on risk minimization through sundry approaches such as risk diversification, risk taking by the country, alternative pensions such as authentic estate and passive income.
Asure Network is endeavoring to surmount this anomaly by utilizing the following innovations.
As a reference for a model lets discuss pay as-you-go system. Only after having implemented the pension system on Ethereum in advance, have we optically discerned the challenges that needed to be solved. In integration to the challenges, there is withal an opportunities to ameliorate the system, such as the inheritability, the degree of automation and the engenderment of incipient incentives that are not dependent on middlemen. There are many advantages that a decentralized pension system can offer, the most paramount of which we will discuss here. Decentralized and Autonomous. With the avail of blockchain technology, the decentralized system becomes available 24/7 access. There are no employees required to operate the system and this abbreviates administration costs enormously. Abbreviates costs.Due to the automation and decentralized operation, there is no supplemental cost apart from the transaction fees .
Transparent.
It is open-source and anyone can view the transactions and check the validity of the processes in the system.
Permissionless.
Access is available to everyone and ecumenical unconditionally. Access to this system is available to anyone with Internet access. Except for the Tx fees, these charges may differ depending on the network utilized, such as Ethereum.
Without any intermediaries.
There is no organization or middleman who have mazuma access, the system is a closed economy in itself. Corruption free. There’s no way one can purloin the mazuma from the system. Tamper-proof.The sanctioned changes of the system are left to the members.
Fraud free.
Fraud is evaded by the fact that we do not require external information for the operation.
100 years life cycle.
The system is designed to last 100 years, with a 20-year system start and a 40-year payment period.
Base points limit.
Pension points are circumscribed to 2 per pension period as no one may have an incalculable claim in the later redistribution.
Plenarily inheritable.
The total pension entitlement can be inherited by passing on the private key.
GDPR compliant.
We do not utilize any external data sources such as age, death certificate and average salary as reference values.
Incentive system.
Several incentives ascertain the sustainability and adoption of the system in the community.
Asure network is in the market presently offering their token to the public during their official token generation event (TGE). The event commenced on 1st December 2019 at the rate of 1 ASR to $1.00 and the total value is 100, 000,000 token with intending hard cap of $40,000 000. ASR is ERC20 compatible token. Join this great project with an abundance of innovations and invest here for a better tomorrow.
Allocation
I am thinking that perusing the projects social network will be of great assistance as detail information will be readily available to would be investors to enable them make informed investment decision .
Website: https://asure.network
White Paper: https://www.asure.network/asure.network.whitepaper.en.pdf
Twitter:https://twitter.com/AsureNetwork
Facebook: https://fb.me/AsureNetwork
Telegram: https://t.me/AsureNetwork
Authored By: SifonE
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2214622