Worker Proposal Progress: BitShares Spokesperson

Suggested Duration: 10 to 15 minutes

Recently, the BitShares spokesperson prepared a report regarding the issues that it must address when discussing with centralized exchanges such as Bittrex.

Outline of BitShares Blockchain

A very precise description of the blockchain and how it operates in a decentralized manner is available in the document. It is clearly directed towards nitpicky readers but is neverthless lucid. The term "Working Budget" was apparently important to be used to convey.

A. Three billion, six hundred million BitShares were generated, which cannot be increased. Other than BitShares in the Working Budget described below, all the BitShares are currently in circulation.
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_A. All transactions on the BitShares Blockchain correspond to “smart contracts” that require an individual transaction fee. Twenty percent of the transaction fee goes into the Working Budget; the other 80% is transferred to the registrar and any referrer. The division of fees between the Working Budget and the registrar, and between the registrar and any referrers, is performed automatically and autonomously.
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E. Disbursements from the Working Budget must be authorized by a vote of the BTS token holders. They authorize budget from the Working Budget by voting.

Foundation will Prepare a Website about BitShares

Bittrex needs the Foundation to be prepare a website that contains information like the outline above. Towards that end, the Foundation is preparing a website to be the "one and only source of information for a potential owner of BTS and inform and educate all authorities and bodies involved."

The BitShares Blockchain Foundation will organize and maintain a website to be the one and only source of information for a potential owner of BTS and inform and educate all authorities and bodies involved. Regulators are all about protecting the consumer by making sure laws are observed and misunderstandings avoided at all times. Simple example: no NYSE listed company has two or more “official” websites. Whether we like it or not, that is the way it has to be. It means we have to clean up documentation, organize it, shape up in instructing the public and having an address to reach the decentralized BitShares Blockchain. BBF will need to put out a disclaimer on all the rest of information in order to protect the community and the public and prevent misunderstandings. That does not mean by any way that the core in which way the BitShares Blockchain operates with its voting mechanism has to change one bit. It is only what we do to the outside world that needs to get organized and be precise in its wording. So in that respect, indoors, nothing changes. BBF has recently brought forward a proposal to establish more contact by instituting an Advisory Board from within, always in compliance with the applicable laws in the Netherlands, to which the entity is registered.
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The BitShares Blockchain Foundation will shape the information based on the description below. This is already set in motion. A detailed plan is being worked out. Once we cleaned it up with Bittrex Inc., we will be in the position to lift the temporarily freeze on the trade in BTS. The current situation enables the community right now to comply with existing U.S. laws. Bittrex Inc. had to make sure they were not involved with a market that was not compliant. Their strict and thorough study as matter of fact gives us the opportunity to make the BitShares Blockchain stronger towards the future.