Qtum Foundation Financial Reports & Governance Plan

  • qtum team

    To increase the transparency of the Qtum Foundation, we will release monthly expenditure reports containing the total for staff salaries, operational expenses, marketing expenses and other costs. Additionally, the Foundation will list the total assets that it holds including Bitcoin, Ethereum, Fiat, and Qtum Tokens.

    The Qtum Foundation will also seek complementary services to aid our efforts in transparency and professionalism with a professional auditing firm, legal team and a professional digital asset management solution for the Foundation. We hope this will help promote the healthy development of the Qtum Project and serve as a model for other projects.

    The content that will be made public to the community:

    1. Qtum Foundation obtains digital and traditional assets, which include: bitcoins, ethereum, and other digital assets such as Qtum tokens, as well as, legal tender in the form of USD and RMB.
    2. Qtum will release monthly spending reports, including employee compensation, operating costs, marketing costs and other expenses

    The way the Foundation will govern:
    Qtum will make this information public on the Qtum website www.qtum.org, and the reports will later be verified by a third party.

    The release date of this information:
    Qtum will release this information on the first working day of each month

    Qtum digital asset security management plan:

    1. Qtum will hire a professional digital asset management service provider to provide financial management services. (Multi-Signature Wallet's private key which is controlled by multiple parties, which will likely include but isn’t limited to Qtum co-founders, Qtum community member representative, professional hardware wallet service provider, professional digital asset management services company, professional trust company, professional law firm, and an auditing firm)
    2. Professional auditors will provide auditing and reporting services at a later date
    3. Regulatory advice will be provided by a professional law firm(s)

    -Qtum Foundation
    June 1, 2017

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