Statutes of IoC



Statutes of IoC



DRACC alias







Groot, R. de; Koning, A.M.D. de; Koning, W.J.C. de;


November 2017


The Commons Conservancy

This document is copyright: [The Commons Conservancy] and IoC, and can be used under a Creative Commons Attribution 4.0 International license.


The Internet of Coins Programme (in short: IoC) has been established to facilitate an open, transparent and efficient governance process throughout the future development of the technology and auxiliary materials (such as documentation, tests, validators and tutorials) developed within the IoC user and development community.

IoC seeks to provide guidance, oversight and coordination of activities as well as a long-term, multi-stakeholder and architectural perspective.

Financial considerations

IoC operates on a nil budget, which means there are no direct financial considerations.

IoC Board of Directors determines the desired direction of the development of technology and auxiliary materials. At the request of grantmaking organisations, donors and partners, IoC MAY provide guidance to others on and inspiration with regards to the establishment and evaluation of activities. IoC itself will have no direct financial involvement in such activities under any circumstances.


The central decision making body within IoC is the IoC Board of Directors (in short: IoC Board). The IoC Board is a meritocratic committee responsible for making and coordinating decisions on behalf of the user and developer community around IoC, according to the conditions set forth in these Statutes as well as any Regulations established by prior decisions of the IoC Board.

The IoC Board has a minimum of three, and a maximum of seven natural persons. The founding IoC Board has appointed a number of its constituting Directors to serve a half (12 month) term, and the remainder to serve a regular (24 month) term. Subsequent Directors are elected by the IoC Board to regular 24 month terms according to the procedure set out in these Statutes. Directors are permitted to seek office for multiple terms.

The IoC Board determines the Programme's structure and processes, and is responsible for maintaining its Statutes and Regulations. The IoC Board is free to make or revise any decision, taking into consideration applicable law as well as any immutable conditions previously established within the Statutes or Regulations.

In order to efficiently fulfill its tasks, the Board may establish specialized committees and taskforces, as well as assign named roles to qualified individuals to provide advice and assistance on specific issues. The associated qualifications, tasks and responsibilities SHALL be formalised by publication as part of the Regulations of IoC.

The IoC Board (and any person, group or organisation mandated by the IoC Board on its behalf) must act in good faith and in the common interest of the developer community and the wider user community of IoC. If significant harm to the organization has been committed by any Director, he or she MAY be removed from the Board by a simple majority vote of the rest of the Board.

The IoC Board SHALL convene offline or online at least every twelve (12) months.

Voting procedure

Any two IoC Directors MAY jointly organise a vote of the IoC Board on any subject, after which a notification SHALL be sent out by email to each Director detailing the proposed action and the deadline.

Each Director is entitled to one (1) vote on each matter submitted to a vote. Voting happens through an electronic voting system, by email vote or by a quorate (online) meeting. A quorum is reached when all Directors are either (tele)present, have appointed a proxy or have indicated they will abstain from voting.

It is the responsibility of each Director to maintain valid contact details for communication within the Board. When a Director does not respond to multiple communication requests or invitations to vote for a period of one month across at least two different channels, he or she is removed from the quorum count until contact is restored.

Regular decisions of the IoC Board are taken by a simple majority. Any amendment to these Statutes requires a consensus of the entire IoC Board minus one Director. In all cases, the Chair of the IoC board casts the deciding vote in case of a tie.

Each Director agrees to use his best efforts to resolve disputes in an informal manner.


All IoC Directors (as well as any persons the IoC Board have delegated tasks and/or responsibilities to) are understood to act as fiduciaries with regard to the IoC Programme, and their duties include, but are not limited to, the fiduciary duty of care and the fiduciary duty of loyalty.

Directors SHOULD NOT receive any personal benefit as a result of a pending decision -- he or she is required to explain the circumstances and avoid taking any part in the decision.

Any conflict of interest or apparent conflict of interest between IoC and individual Directors MUST be avoided. Directors undertake to declare any interest in any item under discussion and MAY be invited by the IoC Chair to withdraw from discussions when business concerning their personal interests or the interests of natural or legal persons close to them is being dealt with. Directors MUST heed such an invitation and at the very least abstain from voting.

Decisions involving activities under which one or more Directors would have conflicts of interest that are of material significance to the Programme and/or to the relevant Director(s) require the approval of the entire IoC Board minus the Director(s) with a conflict of interest.

Licensing policy

All software and content created or maintained within IoC is to be made publically available perpetually at no cost under one or more of the licenses on the Free Software Foundation's list of "recommended copyleft licenses" or any license approved by the Open Source Initiative on or after the submission date.

When additional licensing needs (which would make the identical software or assets available also through licenses not on those lists) arise, the IoC Board is responsible for deciding on a case by case basis how this shall be best dealt with. In such matters the Board SHALL act in the common interest of the user and developer community, respectful of the spirit and intents of the original creators of and contributors to IoC.

Any financial benefits resulting from licensing agreements with third parties shall exclusively be directed towards a not-for-profit organisation aligned with the goals of IoC as contribution to the future development and maintenance of IoC. These contributions shall be spent under the responsibility of the IoC Board, on behalf of the IoC user and developer community and in the general public interest.

Transition into these Statutes

The following decisions are ratified by the signatories when these Statutes take effect:

  • The founding IoC Board shall be comprised of the individuals acting as signatories of the initial version of these Statutes, the act of which also has established all signees as Directors.

  • Joachim de Koning is appointed as the IoC Chair for a period of 12 months.

  • Amadeus de Koning and Robert de Groot are appointed as Directors of the IoC Board for a period of 24 months.

  • The IoC Board commits to identify and approach all rights holders, and ask them to transfer the moral stewardship of the codebase to the IoC Programme.

Agreed on 03-11-2017, Amersfoort by:


Joachim DE KONING (Chair)