A prominent UK Conservative Member of Parliament (MP) has resigned from two blockchain-related positions after a media investigation concerning a professedly undisclosed pay deal for his advisory role in a blockchain startup took place.
Grant Shapps, the former chair of the Conservative party until his resignation in the throes of a 2015 tormenting embarrassment, offered a double resignation this week from his roles as chair of governance for the blockchain property gateway of OpenBrix and from his co-chairmanship of the UK All-Party Parliamentary Group (APPG) on Blockchain.
The MP’s move came after FT Alphaville found that he was expected to get possibly “hundreds of thousands of pounds” worth of digital tokens ahead of OpenBrix’s public Initial Coin Offering (ICO) launch, having recorded his contribution as an ‘unpaid’ role in the parliamentary register of individuals’ financial interests.
Shahad Choudhury, co-founder and CEO of OpenBrix, uncovered that was qualified for a roughly comparable token allotment as that of the OpenBrix co-founder – 8 million BRIX tokens. Each BRIX token is supposedly worth 0.001 Ethereum (ETH), bringing about a shared pool of around £2.8 million ($3.7 million) at current rates.
FT’s coverage of the case features a dubious “convergence of business and legislative issues” in the UK parliament, the Blockchain APPG enrolled another co-founder of OpenBrix as a permanent “expert advisor” to the cross-party group.
In response to FT’s inquiries into Shapps proclaiming his situation as “unpaid”, the MP supposedly responded that he had been prompted “to the letter” to do as such by his registrar, clarifying that “the imminent financial gains would just be registrable if and when realized.”
As reported by Cointelegraph, the OpenBrix board amended the remuneration deal to significantly decrease and more broadly disseminate the aggregate sum of tokens issued. Under these reconsidered terms, the MP would at present have been qualified for “no less than, 482,353 BRIX tokens,” or £170,000 ($222,000) at current rates.
The post Grant Shapps Resigned From Two Blockchain Sector Positions appeared first on OWLT Market.
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