|Corda Network Foundation||Document history|
Corda Network Foundation Transition Board
As outlined in the Governance Guidelines, the Foundation will first be governed by a 1-year ‘Transition Board’, after which steady-state elections will commence.
Corda Network Foundation Transition Board
The Corda Network Foundation’s Transition Board has been appointed (press release: April 2019). The Board includes 9 senior figures from external companies across financial services as well as representatives from blockchain technology companies building on Corda.
- Andrei Ilchenko: Head of IT Wholesale Banking Channels, ING, Europe
- Alain Verschueren: Head of Innovation & DLT, Trade Finance Competence Centre, BNP Paribas, Europe
- Masayuki Miyashita: Head of Structured Trade Group, Global Trade Finance Department,Sumitomo Mitsui Banking Corporation, Asia
- Joshua Kroeker: Director, Blockchain Lead for Global Commercial Banking, HSBC, Asia
- Andrew Speers: Director, Product and Innovation, NatWest, Europe
- Jordane Rollin: Executive Director & Head, Digital Transformation, Trade Finance Global Products, Standard Chartered, Asia
- Markus Tradt: Chief Technology Officer, B3i, Europe
- Edwin Oversteeg: Manager, Organisational Development, Achmea, Europe
- Greg Crow: Global Head of Architecture, AXA XL, Europe
In addition, the board has two directors employed by R3:
- James Carlyle
- Carolyne Quinn.
Criteria and Context for Transition Board (updated 2019-01-25)
The Corda Network Foundation wishes for its Transition Board to be set up soon, so transition to governance by the Foundation (and independence from R3) can commence. (This is a temporary board lasting 1 year.)
The first 3 Business Networks with at least 3 nodes (from separate corporate groups) live on Corda Network (production) are eligible to nominate 3 x Transition Board directors. How these are picked is up to the BNs themselves, and should be done in a fair and transparent manner. (Nominated members should be communicated through R3 to the Foundation, or directly to cordanetwork@….)
No more than 1 person representing a single corporate group can join the Transition Board.
The Foundation will also consider BNs with 3 x participants with nodes live on UAT, for Transition Board directorship (i.e., you don’t have to be live on Corda Network production). However, these nodes should also be in their production plans (in other words: those who create a node for UAT-only will not be considered eligible). In addition, full members will be prioritised.
- Where more than 3 Business Networks qualify (as per #2 and #4), Transition Board members will be selected by the Foundation, based on:
- Whether they have nodes live on CN production (or at least, UAT). This will be checked by R3’s doorman.
- Whether they are advanced in their plans to move onto Corda Network (production)
- That they have the right legal agreements in place with R3 / the Foundation. For UAT, this will typically involve the PTOU, and any Corda Enterprise license / pricing agreement for UAT – but relationship managers will confirm with the Business Networks.
We expect Director confirmation to take place by mid-February, and for the Transition Board to be in place (and commence operations) soon after that.
- Both Business Network Operators and their end-participants are eligible, so long as they meet the criteria stipulated above. However, the latter are our preference to be on the Board, since they are the ‘users’ of it.
Transition Board –> Steady State Board
During the Transition Board seating, there will be a vote amongst all Corda Network participants, for Board Directors for the steady-state board.
For the first election only for the steady-state board, of the nine vacant seats:
- three will be for a duration of one year
- three for two years, and
- three for three years.
This will introduce a staggered board, so there is greater continuity at the end of each term. Candidates with the most votes will fill the three-year seats first, followed by two-year and then one-year seats. In all other respects, the first election will follow the steady state process.