Overview

The BitShares Blockchain Foundation takes a lead in managing so called worker proposals on the BitShares DAC. These proposals, once approved by BTS holders, obtain funding in BTS tokens from the working budget (a.k.a. reserves) of the BitShares DAC. These BTS tokens are then traded into a price-stable cryptocurrency, such as bitUSD.

Spending Budgets

The Bitshares Blockchain Foundation currently knows two types of worker proposals:

Escrow Worker Model

The purpose of escrow workers is to ensure proper payment for the work provided over a period of time and absorb volatility of the BTS token during that time. The freelancer has a reduced currency-risk during while the BitShares DAC does not overpay for the provided work, especially for long-term agreements.

Given that a worker on the blockchain may be voted in for quite some time, the BitShares Foundation would like to exercise the new model of running an escrow worker to reduce risks and costs for the BTS token holders:

Budget Worker Model

Budget workers serve as workers that provide capital for specific purposes where escrow workers do not fit, such as translation work, bug fixing or bounties. The rules are as follows:

Beneficiaries

Beneficiaries of either of these models need to authenticate themselves against the BitShares Blockchain Foundation with their real-world identity. Invoices need to be sent that are published in this site.

Payments will be made only after receiving and approving individual invoices!

Workers listed on this site will be owned by the BitShares Blockchain Foundation, who will also act as the freelancer’s contracting partner, supervise the progress. Payouts are facilitated in bitUSD through a multi-signature escrow setup with the independent BitShares Foundation.

Blockchain Projects BV has offered to handle the technical details lead quality assurance procedures.

Accounting

For the sake of transparency and accountability, we have the accounting for the escrow workers under public domain. You can read more about this on our dedicated Accountability Page.