Held:November18,2015

ThefollowingBoardofDirectorswerepresent:
BrockPierce
JimHarper
BobbyLee
ElizabethMacCauley

Absent:
MickyMalka
OlivierJanssens

StaffPresent:
BruceFentonED
AmyLoughranDolanDirectorofOperations

CalltoOrderandIntroductions:

BrockPierce,Chaircalledthemeetingtoorderat11:05AM.WewillproceedwithoutMickyMalkaandOlivier,
whoareabsent.

DocumentsDistributedfortheMeeting:

BruceverballyconveystheagendahehadsuggestedtoBrockwhichencompassesJimsemailtotheBoardthis
week,staffing,budget,theelections,andtheDigitalAccountingConsortium.Itshouldbestatedthatnoboard
memberhasanylastminuteadditions.Jodyhasdistributedfinancials.

ExecutiveDirectorupdate(BruceFenton):

PerJimssuggestioninanemailtotheboardthisweek,weneedtoaddresstheissueofthebylaws.Brucediscussed
thelogisticsofbylawchangesonGitHub.Brucewondersifweneedtocallforavoteregardingthewordingand
thecontentoftheGitHub,incaseboardmembershaveconcerns,etc.Hewouldntassumetopublishanythingon
therewithouttheBoardsapproval.Brocksaysitsanadministrativeissuethatdoesnotneedavote.Brucesays
perhapsweshouldtakeavoteandsetatimeframeofacoupleofweekstopublish.Wecanbundlethemtogether
withthelistthatJimmade.Brockagreesthatitsoundsgood,hebelieveswedonotneedavote.

Avolunteerwebmasterhascomeonboardwiththegoalofimprovingthewebsite.Sofarhehasimprovedit
noticeably.Wewillannouncehisnamesoon.Hopefullythisweekwewillmakeadecisiononparttime

membershipcoordinators.Wevehadverygoodresumes.AmyandBrucehavediscussedseveralcandidates.
Brucesayswealsohopetogetavolunteertodocollateralmarketingmaterials.

AccountingProject:

BobbyandBrockmetawithawomannamedBonnie,whoisspearheadingtheDigitalAssetsAccounting
Consortium,theyhaveaskedustojoin.Wemadeapoliterequestforcollaborationbecausewehavebeenleftout
ofvariouseventspreviously.Brocksaysweneedtobemoreintheloop.AsaFoundation,wevedonealotofthe
rightthingstobegintomendourreputation.Thisisimportantbecausewewanttohavetheoptionofbeing
involvedinthediscussion.Bruceagrees,sayingsomeofthesethingseventshavetakenusbysurprise,wedidnt
knowaboutthem.JerryfromCoincenterhasbeengoodatpositioninghimselfatthestartofalloftheseevents,so
heendsupleadingthem.Brucethinksweshouldcommunicatethatifsomeoneisdoingaconsortiuminthisspace,
theydonthaveacompletegroupwithoutincludingus,aswearethelargestgroupinthespace.Elizabethis
wonderingifBrucecouldprovidebackgroundontheevent.Brucesaiditwillbelaserfocusedonaccounting,
auditing,andtaxation.Rightnowthemembersconfirmedare

.Thefocuswouldbeonaccounting

standardsonwhichtherewouldbeamonthlymeeting.Brucewaspushingforacommitteechair,shethoughthe
shoulddoit,butheisnotanaccountant.Perhapssomeonelike

Thereisntmuchdownsidetous
participating,itisntreallycontroversial.Brocksaidifsomethingemergesthatmakesusuncomfortableinrelation
toourmemberbase,thenwecanpolitelywithdraw.WehaventbeeninvitedinthepastandBrockandBobbyhave
hadtoknockontheirdoors.Elizabethaskswhere

Brocksaysthemorewedo,themoreactiveweare,themorewecandoforourconstituents,thebetter.Weredoing
whatwecantofixitintermsofhowweconductourselvesandthevaluewecontributeasawhole.

Brucesaystheindividualsareimportantinthisspace.Someoftheearlyadoptersarethemostknowledgeable
peopleinthisspace.

Elections:

BrucesaysthatelectionsaresetforJan15.Hewillneedsomehelpwiththis.BrianGossisonboardandJimhas
expressedinterestinspearheadingit,fromtheBoardsperspective.Brucesaidtherewasamassiveblowwiththe
perceptiontherewasinfightinginApril.Brucethinksthinksthishurtsusintermsofgettingprominentcandidates
foropenboardpositions.Brockwenttothepastcandidatesthatperformedwellinpriorelections,hesaysthat

willrun.Oncethepresscomesout,Brockwillencourageothergood
candidates.Brucethinks

wouldbegood,hesacriticbutalifetimemember.Someonelikethatcould
beconvincedtobepartofthesolution.

BobbyasksifwewouldvotetomakeElizabethaboardmemberininterim,untiltheelectionwascomplete.Jim
sayshebelieveswehaveaquorumof3people,sowewouldnotneedElizabethtostayonintheinterim.Elizabeth
willnothavemuchtimeafterDecember,butifitsneeded,shecouldconsider.Bobbywantstoknowwhoisthe
bestpersontoconfirmthequorum.Jimconfirmsthatthebylawsstateamajorityofdirectorsatthemeetingareable
toactfortheboard.

Brocksaysweneedtoworkontheaffiliateelectionatsomepoint.Herealizesitsachallengeduetolackofstaff.
Heproposesthatmaybetheupcomingelectioncouldbefor3seats,insteadof2andtrytogetInternational

participantstorunintheelection.Chinawouldbeanexampleofsomewherethattherewouldbeapersonwell
suitedfortheInternationalseat..JimaskedMarkWoodsaboutresurrectingaboutthelistofaffiliatesandcontacts.
Hesaidhemayhaveit,buthasntgotbacktoJimyet.Brucewantstoknowhowpeoplefeelaboutmakingthisa3
seatelection.Itwouldstreamlinetheupcomingelectionprocesswhichisalotofwork,withlittlecompensation.
Jimwantstoclarify,wouldthisbeathirdAtLargeseat?Brocksaidwewouldvotetoeliminatetheaffiliateseat
whichhasneverbeenfilled,andcreateadesignationforthenewseat.BrucewantstoknowifMickysseatwas
individual?Mickysseatisactuallyanindustryseat.Elizabeththinkstheremaybeabacklashbecausethey
changedthebylawstocreateanaffiliateseatandthatitwasannouncedthattherewouldbeaaffiliateseat.She
believesweshouldbecautiousfromaPRstandpoint.Brocksaysifweregoingtolookatanalternativepath,we
shoulddosoinatimelymanner.Brucesaidwecouldcallitainternationalseatandmakeitknownitisaseatto
representtheinternationalmembers.Wecouldhavecorporationsandindividualsvoteonthatone.Brocksaidifthe
processhasntbeendisclosed,anotheralternativewouldbetochangeitsothattheboardinterviewscandidatesand
makesadecision.Brockbelievesitcouldbeoverlytaxingforresourceswehave.Brockasksifanyonehave
suggestionsonhowitcanbemadeeasier.Jimsayshisfirstpreferenceistogowiththeaffiliateelection.Ifwe
cannot,hissecondchoiceistogowithBrucesideatomakeitanInternationalseat.Brockproposeswewaitone
moreweekfortheaffiliatelistfromMarkWoodsandthatweconveneacallaweekfromtoday.Atthattime,we
voteonit.

Brocksaysifthereareanyagendaitems,wecanaddthemtoanagendaforthismeetingnextweek.

BrocksayswellhavetofillElizabethspositionofsecretary.IsJiminterested?Jimsayshewouldtreatitasopen
fornow.

Jimsemailandbylawsamendments:

Jimwasnotpreparedtospeakontheemailorhisearlierproposalsbecausehedidnotreceiveanagendafrom
Brock,as
requiredbytheresolutiononboardfunctioningpassedseveralmonthsago.Jimsaystherehasnot
beenanagendaprepared48hoursaheadofaboardmeetingsincethatresolutionpassed.
.Brock
apologizes,hewasataconference.JimsayshedoesntcarethatBrockwasataconference,BrockistheChairman
andhebelieveshesnotdoingthejoboftheChairman.JimsaysthathepurposelysentanemailtotheBoard
slightlylessthan48hrsbeforethemeetingbecausehewantedtoseeifanagendawasgoingtogooutbeforethe
meeting.Inhisopinion,Brockshouldhavehadanelectionscheduledalready.HefeelstheFoundationlacksa
direction.WehaventdonetheworktoestablishavisionfortheFoundation.Hehasaquestionastowhetherwe
canserveindividualconstituencies.BobbysaidJimspointiswelltakenandvalid.Brockagreesandsaysthat
goingforwardhewillgettheagendaoutinthedesignatedtimeframe.Bobbyproposedweadjournthemeetingand
reconvenewhenwehaveanagenda,doesJimagree?BrockwantstoknowhowJimwouldliketoproceed?Jim
sayshesfinewithcontinuingoradjourningatthispoint,butthathedidntpreparebecausehedidnthavean
agendathatstatedhewouldbecalleduponandthoughtthathisbylawsproposalshadbeendeepsixedbyinaction
onthematthepriormeeting.

BruceproposesthatJimsbylawsareputontoGithubbeforethenextboardmeeting.Hebelievesthiswillalsogive
Oliviertimetoreviewthem,becausenosignificantdecisionisbeingmadewithouthim.Brockputsitforwardwith
amotion.Bobbysecondsthemotion.Themotionispassedunanimously.

Minutes:

BrocknotedthatasitappearsOlivierwillnotbeshowingupforthemeeting,Hemovestoapprovetheboard
minutesfrom10.18.16.Elizabethseconds.Themotionispassedunanimously.

Financials

Wehavetogetmoremoneyinasap.Brucediscussedsignificantneedsforstaffingwhichcannotbemetwithout
properfunding.AsaFoundation,wecannotdownsizethestaffwehavenow.Withoutstaff,theFoundationwillbe
askeletonorganization,justaname.Ifwecanraisehalfofwhatweraisedlastyear,wewillbeok.

Brockunderstandsthatthereisalotoftimethatgoesintolittlethings,operatingafoundationthatoncehadalarge
staff.Brockbelieveswecanraisethemoney,aswehavequalityboardmembercandidatesfortheupcoming
election..

Otherthingswecandotoengagemembership,istostartsendingthemonthlynewsletteragain.Maintainamore
frequentcommunicationonaregularbasis.Brucesaidifanyonehasanyideastoputinanewsletter,wecouldputa
pagetogether.MaybeJimcanwritesomethinguponDevCore.BobbyLeecouldmaybewritesomethingabout
whatishappeninginthespaceinChina.BrucesaysBrockisright,weshouldbeusingthemailinglistmore.

Brockadjournsthemeetingat12:18.