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APG and PGGM launch blockchain-driven system

17 October 17 - RE+D Magazine
APG and PGGM launch blockchain-driven system

COMPANIES

IBI Group

Consultant - GREECE

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Leading Dutch asset managers APG and PGGM have successfully completed a prototype of a blockchain-driven pension administration system.

 

With their prototype, the companies have provided the first concrete use of blockchain technology within the pensions sector.

Further research into the method must produce a more flexible and transparent administration system with significantly lower costs, the APG and PGGM said in a joint statement cited by ipe.com.

The prototype involved the administration of a virtual defined benefit scheme with 10,000 participants, under arrangements similar to APG’s company pension scheme.

A virtual employer then fed salary data and information regarding life events, such as a wedding and a divorce, into the system.

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