|Regulatory Compliance and Exchange Relations|
|Freelancer||Blockchain Projects BV - Blockchain Projects BV|
|Duration||2017/10/18 - 2018/12/31 (15 months)|
|Accounting & Reporting||workers.bitshares.foundation/201710-compliance|
As many already know, there was an announcement made by a major exchange partner to de-list BTS from their books. This resulted in a loss of $100 Mio. in BitShares valuation. In combination with market pegged assets, this resulted in unpleasant and unforeseeable consequences for many BitShares users.
The de-listing indicates a trend in recent activity by the SEC and other regulators and governments worldwide that will only increase as the whole blockchain space matures. This trend is a strong signal for BitShares to adapt to new conditions that rapidly close in on the platform. The strength of BitShares is that of technical superiority, but by nature of its decentralized and autonomous community organization all the rest is not continuously attended, unlike most other platforms which generally have strong, centralized developer teams. This has left BitShares with poor marketing, outdated and often incorrect documentation and a lack of general coordination, whether it be in development or in communicating with exchanges and regulatory bodies. In order to address these issues we are making this proposal.
The objective is to stabilize and further the position of BitShares as a whole in the market by leading the process towards better market exposure of BitShares and improved market liquidity by means of having BTS (and other assets) listed on more exchanges.
Given our recent experiences, we see significant need for an overhaul of the BitShares brand in order to ensure SEC compliance and further listings on more exchanges. These require intensive research as well as major rework of existing material including, but not limited to, documentation, web presences, front- and backend code as well as the public perception of BitShares. It is our desire to lead these efforts.
Letting things go and hoping for the best no longer works and is too dangerous. Similar to existing proposals supported by the BitShares Blockchain Foundation, we will be using a restricted budget with a timesheet to track time spend that will be monthly reported and invoiced. Monthly invoices will be provided publicly.
That said, this proposal is asking for ongoing funding though the BitShares Blockchain Reserves and seeks a budget of 50,000 bitUSD for the next 15 months, payable from October 10th 2017 until December 31st 2018.
Additionally to the fixed budget, we would like to grow our importance and influence within the BitShares ecosystem by becoming a BTS token holder of the DAC based on the performance we deliver. We propose to go for a milestone based agreement that pays in BTS (escrowed through the BitShares Blockchain Foundation):
This far, Blockchain Projects BV has put the hours already in last week to do this work. In the past, we have already worked with technical expertise from Fabian Schuh, Ronald Kramer, and will (where necessary) also work with Bill Butler, Sigve Kvalsvik, Peter Conrad or anybody that is required from the wider and trusted community to get high quality results.
Annemieke Dirkes, CEO and founder of (amongst others) Blockchain BV, Blockchain Projects BV, Blockchain Development UG. In IT since 1987, in managerial roles since 1990. Expertise in general and business development with a strong focus on compliance and legal. She has already met with representatives of Bittrex Inc. and working on clearing up the situation and looking for positive solutions. She will continue to do these conversations or coordinate.
Danique Sterenborg, Consultant and Project Manager. Danique is a recent cum laude Master in Business, accountancy and Finance at Blockchain Projects BV. She will be involved in planning and coordinating the content changes in documentation.
Fabian Schuh, CEO and founder of ChainSquad GmbH and Blockchain Development UG, also known as xeroc. Will be assisting in all matters historical and technical to further the process of creating a clear and transparent picture of the BitShares Blockchain.
Ronald Kramer, Registered Accountant, Fintech and Blockchain expert. Next to being CFO of the named companies, Chairman of the BitShares Blockchain Foundation, Founder of the Blockchain Academy and part of Saxion university developments in Blockchain, Ronald will be responsible for all financial payments made and provide proper documentation to the community where payments on the proposals are made.