BU transparency improvement proposal

[bitsko]

BUIP XXX:

1) The public keys (xPub keys) of all BU funds should be public.

2) All fiat funds and spendings should be made public once per month.

3) Receipts of all spending should be documented in the transaction itself when possible (OP_return or other ways to do it).

4) All receipts should be made public in a single place so members of BU can track it in a convenient way once per month.

 

[AdrianX]

2) All fiat funds and spendings should be made public once per month.

I don't think the above is necessary if the wallet is public. We are working volunteers, not bookkeepers.

In addition, I'd support a version of this that had a monthly discretionary spending budget that could accumulate resetting every year. At a minimum, accounting for the spending should be presented yearly.

3) Receipts of all spending should be documented in the transaction itself when possible (OP_return or other ways to do it).

This could be a BUIP on its own; maybe we could employ @Norway to assist.

 

[bitsko]

please do write out revisions for discussion and consider this a draft.

Also thought the reporting interval may be too much for the amounts being spent.

 

[solex]

@bitsko,
I am fine to have this go forward to the next vote, after it has discussion and revisions from that, plus the necessary formatting. Note that it is a substantial update to the BU Articles where 3.1 and 3.2 cover this area in a high-level. So, it would need to be an amendment to those. Please see BUIP116 for style.

BU is not currently mandated to make public all the info listed above, however we have been transparent previously. #1 was done 3 years ago. #2 we have never had any fiat funds. #3 requires some significant software development, maybe you can propose a budget for that? #4 these are visible to a number of BU members already, but what org can put every single receipt into the public domain? Come on, name any other org which does so today? Obviously, there are doxxing risks, and what good would it do? You have omitted a section on motivation and benefits.

We intend to publish a financial statement, and it will definitely be out this month. Ideally these can be repeated every six months, but as I point out, the current rules do not mandate any level of detail. Nevertheless, we have gone far beyond them in transparency already.

 

[torusJKL]

2) All fiat funds and spendings should be made public once per month.

I think this is overkill.
We would already see the conversion from bitcoin to fiat via #1 and #3.

A yearly statement of fiat expenses should be enough.
[doublepost=1567663805][/doublepost]

1) The public keys (xPub keys) of all BU funds should be public.

I don't know if we would want the root xpub to be public.

A sub tree which holds funds that have been allocated (e.g. monthly/yearly budget or funds allocated via BUIPs) might be better and would still give some transparency.
[doublepost=1567663918][/doublepost]

3) Receipts of all spending should be documented in the transaction itself when possible (OP_return or other ways to do it).

I like this idea.
[doublepost=1567664070][/doublepost]

4) All receipts should be made public in a single place so members of BU can track it in a convenient way once per month.

A encrypted space where only BU members have access would be a good way to increase transparency.
I'm not sure if once a month is a good definition of this time frame.

Maybe that these documents need to be added not later than 30 days after the payment has been done would suit such a repository better.

 

[Norway]

#4 these are visible to a number of BU members already, but what org can put every single receipt into the public domain? Come on, name any other org which does so today? Obviously, there are doxxing risks, and what good would it do? You have omitted a section on motivation and benefits.

1) Who are all the receipts visible to today?
2) What kind of receipts do you want to hide from public?