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Blockchain Application in Retirement Planning Investment: Improving Transparency and Viability

Blockchain Application in Retirement Planning Investment: Improving Transparency and Viability

Anup Sharma, Nitin Gupta
Copyright: © 2022 |Pages: 12
ISBN13: 9781668441336|ISBN10: 1668441330|ISBN13 Softcover: 9781668441343|EISBN13: 9781668441350
DOI: 10.4018/978-1-6684-4133-6.ch015
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MLA

Sharma, Anup, and Nitin Gupta. "Blockchain Application in Retirement Planning Investment: Improving Transparency and Viability." Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance, edited by S. L. Gupta, et al., IGI Global, 2022, pp. 246-257. https://doi.org/10.4018/978-1-6684-4133-6.ch015

APA

Sharma, A. & Gupta, N. (2022). Blockchain Application in Retirement Planning Investment: Improving Transparency and Viability. In S. Gupta, P. Kansra, & G. Kukreja (Eds.), Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance (pp. 246-257). IGI Global. https://doi.org/10.4018/978-1-6684-4133-6.ch015

Chicago

Sharma, Anup, and Nitin Gupta. "Blockchain Application in Retirement Planning Investment: Improving Transparency and Viability." In Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance, edited by S. L. Gupta, Pooja Kansra, and Gagan Kukreja, 246-257. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-4133-6.ch015

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Abstract

Retirement planning is a crucial step in any individual's life, yet many complain of dissatisfaction with the plan they made before retirement. Many variables, the uncertainty of life, and socio-economic shocks make this planning difficult. At times, an action plan needs some adjustments, which can be made through financial institutions. Any loan or scheme offered to an individual involves risk calculation. Transparency in records and the complete history of an individual's financial transactions can help institutions access risk correctly. Linking transactions and other details with blockchain technology can improve transparency and can make retirement saving plans viable for individuals. This chapter explains the relevance of blockchain technology in context to retirement planning investment. This chapter also suggests a blockchain model that can be implemented by financial institutions to make their products favorable.

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