Blockchain within the German statutory pension authority (Deutsche Rentenversicherung Bund)

After D1CONF and DEVCON4 conferences in Prague came to an end, we had an appointment with Dr. Weissweber, Head of the IT Strategy and Architecture Division of the German statutory pension authority (Deutsche Rentenversicherung Bund) in Berlin to get to know each other and to exchange ideas on blockchain technology in the domain of social security.

During the meeting, Dr. Weissweber introduced the founders of the Asure Foundation to a colleague who is working together with the German Insurance Association (GDV, Gesellschaft Deutscher Versicherer) on ideas on how to use the Blockchain for Riester use-cases.

“Riester-Rente” or Riester pension is a privately financed pension in Germany subsidized by state allowances and special expenditure deductions. The Riester pension is predestined for improvements by Blockchain.

After a short introduction to the Riester project of the German statutory pension authority, we presented our two prototypes.

German pay-as-you-go pension on Ethereum

As our first proof-of-concept study, we have ported the German Pension Formula to Ethereum to clarify many different issues.

Decentralized Pension on Ethereum

At the ETHBerlin hackathon we asked ourselves the question: “can a pension be organized decentrally without governments, without a company, globally and accessible to everyone? What incentives can we create for it to achieve mass adoption? And so we created this prototype to the decentralized pension.

More Information: asure.network

Conclusion

According to Dr. Weissweber, the German pension systems are hopelessly outdated. We shared our own research findings of the current state and possible ways of rearchitecting the whole system. We will present the details of our development in the context of a workshop at the German statutory pension authority at the beginning of 2019!

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