Dutch-based APG pension system has announced its collaboration with other companies and knowledge institutions to work on practical applications of blockchain technology, artificial intelligence and on technology that curb carbon emissions.

According to the official release, the projects will be conducted on the Brightlands Smart Services Campus in Heerlen. The results, insights and experiences acquired, will contribute to the development of APG’s operational management.

“Blockchain’s inherent promise, artificial intelligence and the effects of climate change will all exercise significant influence on the future of APG, the commercial world, and society. By investing substantially now in such technical innovations, entering into partnerships with companies, start-ups, and knowledge institutions, APG is contributing to the strength, synergy and speed needed for the Netherlands soon to be a leading player. Participants in affiliated pension funds will also benefit from this. So I am extremely proud that we are taking the first step in this direction here today,” CEO of APG Gerard van Olphen said.

The special team assigned by APG on these projects will be led by Joep Beukers, Director of Innovation at APG. The team will guarantee that smart applications are developed for a range of sectors, in line with the chosen spearheads. In terms of blockchain, the team will include applications for the financial sector, logistics, the property sector and the medical field. The team aims to evolve into the European breeding ground for blockchain applications.

Dutch knowledge institution TNO and BISS (the Business Intelligence & Smart Services Institute) among various other scientific institutions will collaborate in making the contribution to the project. A range of facilities will be available on-campus for start-ups and scale-ups which will be recruited as well.

APG manages the pension assets of around 4.5 million Dutch citizens for its clients. The Dutch pension system is based on three pillars. The first pillar is AOW state pension; the second pillar is provided by the pension funds. The third pillar consists of supplementary insurance policies.