It is important that B&C shareholders reach some consensus on who and how funds should be handled. Until that occurs, funds canât be spent on any new initiatives, such as paying for an exchange listing or purchasing NSR as I have proposed. I would like to finalize motions to move forward with those endeavors, but that isnât really practical until shareholders decide who should hold the funds.
No consensus has been reached on the formation of RSOT and who its members should be. Shareholders are rightly frightened of multisig groups given that these groups have been the primary cause of the loss of about 2 million USD in NuShares, BlockShares and NuBits in recent months. FLOT has been our most costly mistake, and B&C shareholders are demonstrating due caution to avoid a repeat of the severe failures of FLOT.
I have talked about a 2 of 3 group with @jooize and either @Sabreiib or @cryptog as the third signer. Neither @Sabreiib nor @cryptog are particularly eager to sign up for that. But we shouldnât delay any longer.
That is why I plan to create a motion soon that will mandate B&C development funds be transferred to my custody. My guess is consensus can be forged for this action with defined rules for accountability. Later, the funds can be transferred to a multisig group once a better plan to make those groups accountable to shareholders is in place.
I plan to present monthly reports of total funds remaining and spending reports by category, probably with compensation and expenses as the categories. I will charge a 3% handling fee for all funds disbursed. I wonât reveal addresses because our contractors want some privacy about what they are being paid. It is easy to be critical of this small bubble of privacy in our otherwise incredibly open solution, but critics need to understand that making exact compensation arrangements public is undesirable to many contractors and such a policy would make it more difficult to secure the professional help we need. @sigmike has clearly stated his preference for privacy in his exact compensation arrangements, for instance.
I realize some will not support transfer of B&C funds to me. I would encourage such people to make constructive counter proposals. Saying you donât like it doesnât count. Where shareholders have rejected multisig groups for now, this seems like the most sensible way forward.
