Greetings, all
Nominee No.1
Hon. Larry Shelton
Foundation
As proof from the Bitcoin Foundation, showed us; Bitcoin is here to stay! I have been influenced by the growth of the RarePepe creators and collectors and many other projects here. As with anything that takes time and development there is a need for a solid foundation to start. Counterparty being the first core platform and layer for bitcoin and its extended financial applications, the Counterparty Foundation will be the next important move for the Bitcoin and Blockchain Technology Industry. There is much that can be accomplished without a foundation, but the numbers from the Bitcoin Foundation proves above all the other cryptographic systems that a strong legal structure and technological foundation can and will succeed above all. The security XCP provides through is financial applications that extend the Bitcoin protocol allows for the counterparty community to establish a transparent election and appoint community elected community directors that will operate as trustees for the entire Counterparty Community and also the extended parties that will all assist in making Bitcoin a standardize digital monetary system. Bitcoin and Counterparty go hand and hand similar to bacon and eggs. The Foundation should compliment the needs of all beneficiaries of the Counterparty Community. In law, a foundation is sufficient preliminary evidence of the authenticity and relevance for the admission of material evidence in the form of exhibits or testimony of witnesses. The Foundation in this sense will act as an Arbitration Board for dispute, concerns, and General Operation Management for the community internal affairs. The affairs may pertain to development, marketing, and outreach, legal compliances, government procurements, and all other sustainable developments that may need immediate attention and forward action from community directors. A foundation (also a charitable foundation ) is a category of nonprofit organization or charitable trust that will typically provide funding and support for other charitable organizations through grants, but may engage directly in charitable activities. Foundations include public charitable foundations, such as community foundations, and private foundations which are typically endowed by an individual or family. The term “foundation” though may be used by organizations not involved in public grantmaking.
Legal entities existing under the status of “foundations” have a wide diversity of structures and purposes. Nevertheless, there are some common structural elements.
Legal requirements followed for the establishment that the Counterparty Foundation should be aware of that will be one of my concerns as an elected foundation member.
- Purpose of the foundation
- Economic activity
- Supervision and management provisions
- Accountability and auditing provisions
- Provisions for the amendment of the statutes or articles of incorporation
- Provisions for the dissolution of the entity
- Tax status of corporate and private donors
- Tax status of the foundation
Some of the above must be, in most jurisdictions, expressed in the document of the establishment. Others may be provided by the supervising authority at each particular jurisdiction.
Foundation 101
The term “foundation,” in general, is used to describe a distinct legal entity. Foundations as legal structures (legal entities) and/or legal persons (legal personality), may have a diversity of forms and may follow diverse regulations depending on the jurisdiction where they are created. Foundations are often set up for charitable purposes, family patrimony and collective purposes.
In some jurisdictions, a foundation may acquire its legal personality when it is entered in a public registry, while in other countries a foundation may acquire legal personality by the mere action of creation through a required document. Unlike a company, foundations have no shareholders, though they may have a board, an assembly, and voting members. A foundation may hold assets in its own name for the purposes set out in its constitutive documents, and its administration and operation are carried out in accordance with its statutes or articles of association rather than fiduciary principles. The foundation has a distinct patrimony independent of its founder.
Community foundations (CFs) are instruments of civil society designed to pool donations into a coordinated investment and grant-making facility dedicated primarily to the social improvement of a given place. Community foundations are a global phenomenon with 1700 existing around the world of which over 700 are in the United States. Private foundations are typically endowed by an individual or a single family. This family can be our globally connected Bitcoin & Counterparty Community as one Global Family.
Community foundations are independent registered philanthropic institutions serving geographically defined territory, typically a city or administrative area (county, region and the like). The six main characteristics of the CFs:
- Act as grant-making foundations – e.g. give grants to support development projects
- Their mission broadly defined – e.g. to improve quality of life in a community
- Serve geographically defined communities – a city, state, region, district or province
- Are supported by a broad range of private as well as public donors and seek philanthropic contributions primarily from inside the community
- Are governed by multi-sectoral, local boards reflecting the community
- Build capital endowment, which is an important element of sustainability
It is a combination of all these basic characteristics what makes true CF, although there are many other types of community organizations that have some of these characteristics. Families, individuals, businesses, and nonprofit groups establish funds within community foundations into which they can contribute a variety of assets to be used for charitable purposes. The people or organizations that establish the funds can then recommend that grants be distributed, in the name of the fund or anonymously, to qualified nonprofit groups and schools. In the USA the donor receives a charitable tax deduction in the year that gifts are made into their funds, but not all countries where community foundations currently operate provide such incentives for donors. Increasingly, community foundations are hosting giving circles as a way to further support giving in their communities.
The assets of community foundations are pooled and invested, with donors typically having a choice of investment products. The funds established at community foundations can be non-endowed or expendable funds (i.e., the corpus of the fund can be spent in its entirety) or they can be endowed, which limit distributions to the interest earned on the assets and/or the amount granted by the foundation as long as the corpus is not spent. Endowments last in perpetuity due to the corpus never being able to be spent. As an elected Foundation member I am prepared to give endowments to develop, market, and secure all the growth of all potential CIP’s and other components needed for sustainable operations of the entire community. The first financial task we should undertake is our investments as a Foundation through a well establish a trust fund and portfolio of Bitcoin mining investments, and all other departments of important concern, for example. We will need financial applications for Tax’s, Loans, Insurance, Mortgages, Medical, governments, and payment networks of all kind, etc, and this may require and or may not require new CIP’s for the Community. Each bounty and suggested micro-reward, & the incentive(s) for developers and foundation members of all parties, can be funded through the main investment with Counterparty’s big brother Bitcoin. There should be a party registration for all parties or project to become featured exclusively on the Counterparty.io base site. There are other complimentary P2P systems that Bitcoin and Counterparty Smart Contracting Blockchain Financial Technology can collaborate with that I will introduce as a Foundational member. Community Exchanges can be adopted by all parties of the Community depending on their applicability with that respect the integrity of the Bitcoin and other P2P Complimentary systems for attache external exchanges and there is no need for any side-chains.
Location
I am from Houston, Texas, and I look forward to meeting all Counterparty movers and shakers anywhere they may be. As a Foundation Member, I would like to make the community aware of the importance of decentralization in the operation of the community. The global decentralization of the Bitcoin protocol allows us as the smart contract layer foundation to establish smart contracting communities globally, working with the most secured and original smart contract system for the bitcoin blockchain.
Current Issues for Foundation Attention
The issues that are outlined for the Foundation and the community that is affecting the growth of our global organization, can be given solutions, plans, incentivized plans of action for each. This is the Foundation’s responsibility along with regular meetings and as further stated by another nominee. And I quote “In addition to having regular public meetings hosted online, there should be as many if not twice as regular board meeting to hold each other accountable and make sure that there is a consistent coordinated effort. It appears holding such meetings after public ones would help the members hash out solutions they agree on publicly.”
Other issues
Nominee Concern:
What needs to be agreed upon most is a cohesive plan of action that involves pressing topics like legal/tax status of the problems that were highlighted in previous meetings. There are hard number issues like paying tax dues if needed and also more abstract difficulties, like the concern of jurisdiction relocation to facilitate compliance.
RE: I Hon. Larry Shelton, have done as much legal advocating as I can for the entire Community of Counterparty in the private sector of Government in the past 5 years along with others. I have established the United Nations Sustainable Development Goal and Action through SDG Action No. 27655 Registration number for the Sustainable Development Goal using Counterparty.io to end world poverty and help with all 17 SDG goals of the United Nations. The traction I have gain for Counterparty, the new Foundation, and the entire community to establish standardized smart regulations and legal remedies to be utilized by all in the community looking to establish sustainable projects. This is a comprehensive plan and goal that the entire community has the opportunity to participate in. The legal precedence that is in place now due to are being around for some years and other legal protections we all should learn about as an entire community. The use of international lawyers and other important professions that are mention will be important as we all develop important and core project that will benefit all tokens and extended applications, & parties within the Community. Striving for a international business structure and asset protection give benefits to all participants in the global community of Bitcoin and Counterparty.
$5000 in 30 days
>NOMINEE: Best case scenario the Foundation gets together on day one and hashes out an agreed-upon process for responsibly sourcing the funds. As an organization there is already BTC and XCP available, to the best of my understanding there is no current USD balance, nor is there a bank account to hold it.
RE: Through a legal entity for the Counterparty Foundation as established as a trust foundation can establish a trust account with a well establish and trusted the financial institution to be the primary account provider for the Foundation or our own interally own Institution similar to the CES exchanges on behalf of the entire community. I will push for establishing any new CIP in the regards of the needs from the community and developers as a community director. I offer to also to push for a OLD FIAT BASE e-wallet into the Counterparty Protocol. Where USD or any old fiat can be electronically held and attached in a cryptographic counterparty wallet. This wallet should also appear in the General Public Ledger through Xchain.io. Even if un-elected I would still like to assist and consult with those who pioneer in these endeavors.
Therefore let us temporarily bypass that aspect for the sake of conversation assume that there is already a way for the foundation to use the funds as an organization.
RE: We should as foundation members push for immediate marketing and outreach of the platform and focus our general fund towards secure investments in bitcoin mining and bringing in a large bitcoin mining partner to team up with the community. Generating immediate internal revenue by using select tokens of the community to operate as legal tender like the Nomni for the SDG action no. 27655, we will have no excuse for our lack of progression at this point. We should incentives every department of the foundation and especially for developers and project managers and curators.
There are many qualified Accountants and Lawyers who may specialize in blockchain technology, but still, require USD for services rendered. In order to crowdsource capabilities of the community, there can be bounties set up which offer the entire USD to the specialist and the add on accomplishment tokens will go to the referrer. This gamified mechanism will help the Foundation by sourcing many qualified applicants and affording CounterParty as a whole to select the work of the most qualified volunteer.
RE: This can be fixed immediately through a private smart contracting through the private sector of the government. There are also benefits in smart contracting as a community through the SDG Action No. 27655 allowing us to establish smart regulations as the standard community for this, as we deserve, shall, should, and will be. The assistance from international lawyers, organizations, and government bodies will help us streamline the utilization of Bitcoin smart contract layer almost overnight.
In such cases, it is typical that the task requirements are made public along with the payment total. Some websites for sourcing bounty services may be effective, the accomplishment should fit best into legacy mechanisms of the established protocol in order to be legitimate. That is to say that while following CIP in most cases is an objective, this kind of service industry is incompatible. As an organization, we need to have a relationship with a competent Lawyer and Accountant that will last throughout evolution to the next stages.
RE: As a nominee I propose a SRO’s (Self-Regulating Organization) for the entire community that operates similar to the existing parties in the communities. Exercising international law through our global demographics and outreach, & already well established legal and international interstate affairs for the community. I also propose a Management and Budget Community Director or Accountant of some sort. This is included but not limited to a well organized internal community tax board and a party of professionals. As apart of the SDG Action No. 27655 using the Counterparty platform we have begun to already developing privately towards these goals for the Private Sectors of the Government for the benefit of the entire community and global village. Through this, we can continue to attract the poeople to fulfil the needs of legal and financial management assistance we need for the entire community. Bitcoin is operating globally now; therefore we have the potential for global recruitment for our immediate needs for professional human resources. This asset base system utilizing bitcoin will be an immediate game changer. I feel we are making history with all this as we speak. We are speaking and curating new smart regulations into existence as we speak. The more assistance the better I feel and propose.
Due to the nature of the numbers in the example and the state of affairs, the following is loosely suggested.
$1000 Budget to enable the promotion on demographic websites not accepting BTC
$2400 To be paid after work is complete by Lawyer
$1400 To be paid after work is complete by Accountant
$200 Related fees for handling money
Lawyers Assignment
RE: BUDGET AND MANAGEMENT FOR COUNTERPARTY
$1000 Fund to enable the promotion on demographic websites not accepting BTC
$2400 Fund Mining Generator to generate capital revenue gains (Non-Cloud Base)
$1400 Fund to be paid after work is complete by Community Accountant & Developers
$200 Fund Related fees for handling money Community Lawyers Assignment
RE: I propose the capital structure for Global Asset Protection Bylaws and for complicity with current private International law instead of using Delaware or maybe even a Nevus Trust Structure or some international trust safe haven.
Accountant Requirement
Review bylaws and advice of lawyer previously mentioned.
Determine if and how to pay past due amounts in order to return good standing, if applicable. Confirm or suggest best practices in a financial plan of action for concurrent books of service rewards and accounts for payment for service dues to outside parties
Again, the above is subject to approval from the majority vote, or more desirable, consensus. These responsibilities will be made public and marketed by community members for two weeks. The Foundation will take Three business days to come to an agreed plan of action from the pool of propositions from candidates. The chosen service providers have one week to provide the completion of their approved proposal in order to get paid the full amount. This should allow two to four days to accommodate for unforeseen delays in order to pay out the funds before the passing of the month.
This kind of work should precede the allocation of funds to various development efforts. The immediate exception that comes to mind before I hit submit button is domain renewal. I would not want to lose any current brand equity dues. Related project domains need to be extended until the next election period, either May or July of next year depending on the conventional interpretation of the date for the next election.
RE: For the Chosen Account Community Director, I propose the standard use of GAAP and other well know financial accounting principles. Such as the Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged.
The Ten Generally Accepted Accounting Principles ( GAAP)
- The Business as a Single Entity Concept: A business is a separate entity in the eyes of the law. …
- The Specific Currency Principle: …
- The Specific Time Period Principle: …
- The Historical Cost Principle: …
- The Full Disclosure Principle: …
- The Recognition Principle: …
- The Non-Death Principle of Businesses: …
- The Matching Principle:
The generally accepted auditing standards (GAAS) are the standards you use for auditing private companies. GAAS come in three categories: general standards, standards of fieldwork, and standards of reporting. The general ledger of the Block Explorer will provide the much-needed data for any typical professional accountant using these financial principles through a transparent system. The audits will provide the community and participants in the different markets of the community full clarity for investments, and directives for the entire community as a whole. I propose the creation of an accounting association for the community and began incentives for these and more needed specialist position need for the foundation of the community and the market of the community. This will set the standard all financial accounts that will participate globally through the smart contract layer and protocol of Counterparty through CIP’s and special financial applications and functional user-cases using Counterparty protocol layer for Bitcoin. Jdog has already gave the numbers for the past 6 years or so this is a great start.
As mentioned by a fellow nominee; great ideas, and smart proposal we can move Counterparty back into mainstream media. If not the base Counterparty.io or a new extended project of the community that is more attractive to the public as the front-face product or service for the community as we will begin to be known for, and as the more secure and popular standard for smart contracting and also as the core community we represent for, and as in this global Financial Tech-space. This community is the core community that can and will move bitcoin into being the new global standard monetary system. This is why I feel it is important we position our self as a community and Foundation Members together that we all to work towards Sustainable Development and utilization of the Sustainable Development Goal and Action No. 27655 and many more to come.
As mentioned by a fellow nominee; great ideas, and smart proposal we can move Counterparty back into mainstream media. If not the base Counterparty.io or a new extended project of the community that is more attractive to the public as the front-face product or service for the community as we will begin to be known for, and as the more secure and popular standard for smart contracting and also as the core community we represent for, and as in this global Financial Tech-space. This community is the core community that can and will move bitcoin into being the new global standard monetary system. This is why I feel it is important we position our self as a community and Foundation Members that we all to work towards Sustainable Development and utilization of the Sustainable Development Goal and Action No. 27655.
Proof of SDG ACTION NO. 27655 Publication on United Nations Sustainable Development Partners Website
Certificate for the G-27 - Group of 27 Countries Internationally Invited to partner as members for the primary trance of the project.
Long live Counterparty…
Best regards,
In the care of:
Hon. Larry Shelton
On behalf of:
H.I.M Dr. Lawiy Zodok El
World Temple
World Chaplin
lawiyzodok@live.com
http://holytemples.org/worldchaplin
Ph. No. 832 576 6806