Minutes of The Bitcoin Foundation Board Meeting held on January 17, 2017

Present:

Llew Claasen (Executive Director)

Brock Pierce (Chairman)

Bruce Fenton

Bobby Lee

Vinny Lingham

Elizabeth McCauley

Michael Perklin

Francis Pouliot

 

Approval of the agenda

The agenda for the meeting was approved by the Board.

January 2017 operational & financial update

Revenue from any sources included donations of $60 and no new membership revenue.

The Foundation had $5,467 in USD and BTC at the end of December 2016. Operating expenses (excluding financial year-end adjustments) were $8,009 (including accruals for ED & assistant costs, financial controller expenses, web developments costs for the new website, new membership legal terms & conditions & ED flights to attend Satoshi Roundtable).

Llew let the board know that Matt Roszaq of Bloq.com/Tally Capital would be donating $1,000 to the foundation in support of 2017 activities.

The website was again delayed by a change of dev resource from Morgan Price, who no longer has availability for the project, to an alternative provider that Llew has worked with extensively. The website was on dev environment and missing stock imagery & copy. John Carvalho aka BitcoinErrorLog had been engaged to review & write the new website copy during the second half of Jan 2017 due to limited availability until then.

Llew had created an informal technical advisory board to assist with performing his duties and two Core developers were participating on a limited basis in this forum.

The ED would be attending the North America Bitcoin Conference in Miami Jan 17-18 Llew attending North America Bitcoin Conference in Miami Jan 17-18, Satoshi Roundtable in Cancun Jan 23-25 (conference & flight tickets sponsored), Jan 30- Feb 3 in San Francisco for additional meetings, including with representatives from the Linux Foundation.

Funds were very low and thus fundraising & website go-live would be the highest priority for ED during next few weeks.

Board composition and elections

Bruce raised the possibility of increasing the number of board seats and making the new seats available to people with strong networks that could assist with fundraising and assisting Llew on the ground in the US. Llew suggested that some of the board seat terms had expired and that changes were likely necessary to the bylaws in any event, as the bylaws provided for 3 board members to be elected by business members. The foundation no longer had business members. The board agreed that Llew could explore the possibility that board seats might be created or vacated for “heavy hitters” with good reputations within the Bitcoin community looking to step up.

Any other matters

There being no further matters to discuss, the meeting was adjourned.

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 01.17.17 Minutes of Regular Meeting of the Board of Directors of The Bitcoin Foundation