..::[ THE BITCOIN FOUNDATION: CHARTER ]::.. 0x0] INTRODUCTION THE BITCOIN FOUNDATION ESTABLISHED: OCTOBER 22, 2014 CO-CHAIRS: Shane ``mod6'' Kinney (identified by GPG fingerprint): 027A 8D7C 0FB8 A166 4372 0F40 7217 05A8 B71E ADAF Ben ``ben_vulpes'' Vulpes (identified by GPG fingerprint): 4F79 0794 2CA8 B89B 01E2 5A76 2AFA 1A9F D2D0 31DA This charter establishes the existence of a virtual organization whose mission is to maintain the Bitcoin reference implementation. 0x1] BACKGROUND ; SCOPE ; OBJECTIVES Bitcoin is a far reaching innovation with effects unknown and unknowable. It is altogether probable that its effects will conflict with all currently established human conventions. Maintaining the core values as established by the original author in the form of a reference implementation that is lightweight, coherent and cruft-free in face of this conflict requires deliberate effort involving multiple people, which in turn require management and guidance. ``THE BITCOIN FOUNDATION'' will endeavour to provide these, while fostering community growth and development, under the general principle that if and when any other thing conflicts with Bitcoin, that other thing must either be discontinued or amended in such a way as to no longer conflict with Bitcoin. 0x2] GOVERNANCE ``THE BITCOIN FOUNDATION'' is governed by unanimous decision of its two co-chairs. At any point during the lifetime of the foundation, either co-chair may announce his decision to step down, through the publication of a GPG signed document to that effect. It is the responsibility of the outgoing chair to announce his retirement at least six months in advance of circumstances that make his continuation as chair unfeasible. Consequently, the two co-chairs will unanimously appoint a third, and for a period of six months the newly appointed chair and the remaining chair will govern through unanimous voting, except should they be unable to reach agreement the remaining chair together with the outgoing chair may decide. 0x3] ACCOUNTING ; DONATIONS ; EXPENDITURES ``THE BITCOIN FOUNDATION'' will accept anonymous Bitcoin donations only. ``THE BITCOIN FOUNDATION'' will publish monthly reports detailing its intake and expenditure. Donations collected are to be spent as decided by the co-chairs. The co-chairs promise and warrant to only expend the Foundation's Bitcoins on that which is necessary to achieve its objectives. The Foundation's chairs shall retain the services of a Treasurer to issue monthly statements and secure Foundation assets. The Foundation shall publish an address under that Treasurer's exclusive control to which interested parties may donate Bitcoin. In the event of expenditure, the co-chairs shall instruct the Treasurer as to the quantity of Bitcoin to send, the address to which the Bitcoins shall be sent, and a description of the foundations goals in expending said funds. Every month, from these authorizing notes and transactions inbound to the Foundation address, the Treasurer shall generate a Statement of Account detailing receipts and expenditures. 0x4] LIMITATIONS OF LIABILITY Neither ``THE BITCOIN FOUNDATION'', the present or any future co-chairs, or any other person or entity in any way associated with ``THE BITCOIN FOUNDATION'' assume any liability for any losses suffered or alleged to have been suffered by any third party as a result of the execution of this Agreement.
Signed: B71EADAF, D2D031DA.