Attempting to Reform the Global Pension System With #blockchain
▻https://hackernoon.com/attempting-to-reform-the-global-pension-system-with-blockchain-21e0ab9b5
image source: depositphotos.comToday, we can expect to live longer than ever before. The bad news — there may be a big deficit to manage the expenses of the aging population, according to a report by the World Economic Forum.Based on present-day working population’s contributions being used to fund the pension of the aged and with falling birth rates, the existing system is facing tough challenges. Often termed as another form of ponzi schemes, which work on principle of “Take from Peter to Pay Paul,” the current pension system needs a foundational revamp. Even in developed countries where governments claim efficient pension systems, getting the amount you are entitled to is often complicated.The Challenges Facing Pension and Welfare Systems TodayMany present-day workers either lack easy (...)
