Minutes of The Bitcoin Foundation Board Meeting held on October 16, 2018

Present:

Bobby Lee

Brock Pierce (Chairman)

Bruce Fenton

Llew Claasen (Executive Director)

Michael Perklin

Vinny Lingham

Absent:

None

Approval of the agenda

The agenda for the meeting was approved by the Board.

Approval of the minutes

The minutes of the meeting held on September 18, 2018 were approved by all present.

Financial update – September 2018

  • August revenue included Membership contributions of $892. There were 2 new members.
  • Operating expenses for the period were $9,362. Apart from the Blockonomic travelling expenditure, there was courier of company documents from USA to Cape Town; a general increase in professional fees time and reinstatement legal fees for the state of Washington DC. These expenses were before a loss in BTC value of $196 and a loss in ETH value of $7,971.
  • The net deficit for the period was $16,638
  • 09/30/18 Bitcoin Balance was 0.5801 coins equating to $3,841
  • 09/30/18 ETH Balance was 158.9459 Ether equating to $37,011
  • September BPI high was $7,359 with a low of $6,183
  • Total Cash assets including BTC, ETH and USD were $44,0004 at 09/30/18.

Operational update – September 2018

Public relations

A dedicated PR resource has been appointed to spend 2 days a week (~64 hours a month) on Foundation PR.

Operations Management

The recruitment process for a part-time Operations Manager (US based) has started and we hope to make a suitable part-time appointment in October. Once appointed the Operations Manager’s focus will be on planning and operationalizing global training seminar programs, global cryptocurrency advocacy programs, global regulatory stakeholder engagement programs, global fundraising programs and local chapter development (starting with Canada, Australia and the Netherlands).

French BitLicense

French BitLicense: The Foundation’s counsel sent an opposition letter to the French Parliament on September 23, 2018, in which we strongly oppose the “crypto-assets” amendment to the bill on the growth and transformation of businesses (“PACTE Bill”), submitted by LREM MPs, Valeria Faure-Muntian, Christine Hennion and Eric Bothorel on Friday, September 21, 2018 (amendment #2492).

This amendment will allow the French Government to adopt the recommendations of the Landau report, a proponent of the New York BitLicense, which has proven to be a disastrous attempt at regulating the industry, and not a template that others should follow.

As a part of the EU, this step by French Regulators could initiate the adoption of similar irrational regulation in other countries within the EU. Attempted regulation of such a new and immature technology will not serve anyone.
A press release regarding our opposition and calling French communities to reach out if they would like to assist was issued in France and the US – we have had some positive engagement with French businesses and influencers and will explore how we can work together to fight this bad regulation.

We’ve asked our community for support in terms of financial contributions to French legal fees.

Speaking engagements

September speaking engagements and conferences:

  • Crypto Cumberland Crypto Influencers Summit (September 14-16), Singapore
  • Blockchain Live (September 26), London, UK: The Foundation’s ED delivered a keynote on “The Rise Of Blockchain – How Bitcoin Is Pioneering A Global Sea Change.”

Upcoming speaking engagements:

  • BlockCon2018 (October 10-12) Santa Monica, CA
  • Crypto & ICO summit (October 28-29) Zurich, Switzerland
  • Decentralized (November 14-16), Athens, Greece
  • Blockshow Asia (November 28-29) Singapore


Director appointments

The board nominations committee exchanged emails & agreed on a final ordered shortlist of 5 candidates for the Board to vote on, to fill 3 vacant seats for appointed board members. The board accepted the nominations and asked that Vinny and Llew reach out to the top 3 candidates to assess their level of interest in joining the board.

Other matters

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

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