Long Finance's Distributed Futures research programme has launched a research project entitled “Pensions & Smart Ledgers”.
The aim of this research is to provide an overview of how and where Smart Ledgers could be used in pensions, and in particular how pension schemes could be administered using such technologies. Smart Ledgers are likely to be useful in all forms of pension structure, e.g., defined benefit, defined contribution, and hybrid schemes. However, the way in which Smart Ledgers could serve as a platform for each form of pension will differ based on the unique characteristics of the different types of pension arrangement. The research is being led by Dr Con Keating, Head of Research at Brighton Rock Group, Associate Professor Iain Clacher of the University of Leeds, and Research Fellow David McKee of the University of Leeds.
Con has written for Long Finance’s Pamphleteers Blog on Collective Defined Contribution pension schemes and submitted his thinking to the Parliamentary Work and Pensions Committee’s Inquiry into Collective Defined Contribution pensions. Professor Michael Mainelli of Z/Yen Group comments that “Smart Ledgers might be seen to be the almost ultimate pensions administration technology. These ledgers provide an immutable record of who owes what to whom over long periods of time. This research will see how far we might sensibly move from using Smart Ledgers for data records alone towards executing obligations over longer periods of time".
“Pension & Smart Ledgers” is part of Long Finance’s Distributed Futures research programme into Smart Ledgers and wider technology. Smart Ledgers are the ‘next big thing’ in technology. They’re based on a combination of mutual distributed ledgers (aka blockchain: multi-organisational databases with a super audit trail, used since 2009 in cryptocurrencies) with embedded programming and sensing, thus permitting semi-intelligent, autonomous transactions. Smart Ledgers are touted as a technology for fair play in a globalised world. The research is intended to inform policy makers and business people making decisions about moving towards these systems. Long Finance’s Distributed Futures research programme is sponsored by the Cardano Foundation.
Notes to Editors
Cardano Foundation - https://cardanofoundation.org/
Cardano Foundation is a blockchain and cryptocurrency organisation based in Zug, Switzerland. The Foundation is dedicated to act as an objective, supervisory and educational body for the Cardano Protocol and its associated ecosystem and serve the Cardano community by creating an environment where advocates can aggregate and collaborate.
The Foundation aims to influence and progress the emerging commercial and legislative landscape for blockchain technology and cryptocurrencies. Its strategy is to pro-actively approach government and regulatory bodies and to form strategic partnerships with businesses, enterprises and other open-source projects. The Foundation's core mission is to "standardise, protect and promote" the Cardano Protocol technology.
Long Finance – www.longfinance.net
Established in 2007, Long Finance aims to improve society's understanding and use of finance over the long term by hosting and promoting a series of lectures, discussion events and research publications. The initiative began with a question – “when would we know our financial system is working?” – and seeks to challenge a financial system that revolves around short-term thinking and practices.
Z/Yen Group – www.zyen.com
Z/Yen is the City of London’s leading commercial think-tank, founded to promote societal advance through better finance and technology. Z/Yen ‘asks, solves, and acts’ on strategy, finance, systems, marketing and intelligence projects in a wide variety of fields. Z/Yen manages the Long Finance initiative.
For further information contact:
Professor Michael Mainelli
London EC2R 7HG
tel: +44 (0) 207-562-9562