Bitcoin Foundation: Two Vacant Industry Board Seats Available

As an update to a post in mid-February that indicated a vacant industry seat on the Board of Directors of the Bitcoin Foundation was available, the Foundation has posted an update that indicated that two industry seats are now available on the board.

Presumably, this is related to the recent forfeiture of the seat once occupied by Mark Karpeles of Mt. Gox. On February 23rd, the foundation announced the Tokyo-based exchange (now under bankruptcy protection) had stepped down.

In order to nominate a potential candidate, one must be an Industry Member of the Bitcoin Foundation. Nominees must be in by the 7th of April, and voting will commence on the week of April 21st. If there is a large pool of nominees, the foundation says “multiple voting rounds by be necessary.”

The two newly-elected members will join Micky Malka (Ribbit Capital), Gavin Andresen (Chief Scientist at the Foundation), Jon Matonis (Executive Director), Elizabeth Ploshay (Manager of Communications at Bitcoin Magazine), and Peter Vessenes (CEO of Coinlab).

The following are listed as board member responsibilities, as outlined by the Foundation:

• Review and abide by the by laws.  The bylaws are the basis for the organizational structure of the Foundation, and all board members must be well versed in their details and impacts on Foundation business.

• Attend all board meetings.  Board members are expected to attend all board meetings. Currently, our regular meetings occur once per month via video conference and are scheduled to accommodate a wide range of time zones of the participants. Interim meetings may also be required from time to time.

• Occasional travel may be required.  Board members may at times be required to travel on behalf of the Foundation.  Approved travel costs will be paid by the Foundation.

• Perform officer roles as assigned.  Board members can be assigned officer roles in addition to basic board obligations, and are responsible for all tasks related to those roles as outlined in the bylaws.

• Act in the best interest of the Foundation and its members.  As the public faces of the Foundation, board members should conduct themselves responsibly in addition to actively seeking to further the goals of the Foundation.

For more information on this election, please see the Foundation’s post here.