UNICOIN / trustees

A few days ago, I invited all Unicoin holders to comment on my recommendation that a trustee of the foundation should own at least 1M ú to be nominated. Most comments have been favorable of setting this threshold. 

Some investors argued that exceptions may be needed to invite somebody with unique expertise, but I think that such experts may be retained by Unicoin Foundation as consultants. 

Millions of people will hopefully own and use unicoins and, if we don’t set up a reasonable threshold, then there may be countless self-nominations, making the election process convoluted. 

Bibin Abraham Varghese suggested that “trustees should be of as many ethnicity and from different parts of the world.” I’m not comfortable with setting criteria like “0.2 Australians for each American” or “2 Asians for 7 Latinos.” Such criteria would be arbitrary, and different people would have different preferences on the “optimal ethnic and geographical” composition.  

How do you even classify a person? Take me, for example. Shall I be considered “from Russia” because I was born there, “from America”, where I lived the longest, or “from Europe” because I’m an EU citizen and spend a lot of time there? 

Ethnicity is not a clear concept either. I have friends with mixed ethnicity. We’ve never asked for investors’ ethnicity and don’t plan to start doing it. 

The best we can do to assure diversity is to appoint enough trustees to represent wide range of opinions. I therefore plan to invite at least 50 investors, with 1M ú each, to serve as trustees, on the basis of their past support of Unicoin as Brand Ambassadors, by providing advice, signing the Amicus Curiae letter, or other meaningful actions.  

We will also deploy a form through which investors can submit their own nominations, including themselves.