Track: The Future of Pensions
two plastic bottles = 14 euro bigger pension
In the Blockchaingers Hackathon 2018, the Future of Pensions track aims to develop ideas for how the new generation can have financial security down the road.
The Winning Solution - FHICTchaingers
A lot of people don’t believe in pensions, they do not believe that 1 euro now will be worth 14 euros when they retire. However, based on the average return rate of APG, the largest pension provider in Europe, it is. FHICTchaingers will increase pension funds and awareness, using micropayments. At every touchpoint, for example, when receiving a deposit, handing in old cell phones, difference in electricity dalt rates, you can decide to receive the deposit now or have it deposited in your pension fund. In increasing parts of the world you can use the deposit for handing in your used plastic bottle. With the built prototype the team proved that it is really easy to scan the deposit-ticket, and get it into your (pension)account.
APG currently pays a lot of money to verify that the money that is put into the pension account of someone actually is there. FHICTchaingers used blockchain technology to save the pension funds and its participants, a lot of money. Thus making pensions more available. The micro-transactions are stored bundled on the blockchain. The employee, employer and pension fund can all see track the progress of the pension directly in the blockchain and work closer together thanks to this transparency. The solution offers a high level of security, because the data on the blockchain can’t be tampered with for fraud and amounts can be checked directly by regulators.
The Blockchaingers Hackathon Impact Canvas
All 15 relevant topics for building and growing the solution of a team are present in this canvas. Beginning at the top left, with problem and MVP, to impact on society in the middle and legal and technical challenges on the right. The bottom is reserved for acceleration of the solution.
The solution in three slides
The solution in three slides
The teams have been challenged to explain their solution in three slides. During the awards show, the winners presented these solutions on stage to the blockchain ecosystem.
More on FHICTchaingers
Follow The Money: Alle wereldproblemen werden gehackt in Groningen
Antti Kailio: The generation without pension – in the way we know it
#Pensions, not a hot topic for #millennials. Creating awareness is important for their #future. Team FHICTchaingers of @FontysICT incentivizes them through everyday microtransactions #bc1718 https://t.co/W8S5fxUE1U— Blockchaingers (@blockchaingers) April 19, 2018
Fontys Hogeschool ICT wint met 'Jongeren bewust maken over pensioen' eerste prijs Blockchain Hackathon https://t.co/dDjsLYAwPL— Fontys (@Fontys) April 9, 2018
Runner-up: Luna Bound
“Alternative investment vehicle in digital infrastructure”.
Traditional money from pension funds will be converted into Ether and invested into stakes on behalf of the customer. The value of money will be measured not by work, but by staking your Ether. The product allows for a company to invest funds and to insure, in return, a digital infrastructure.