A member of parliament has recently resigned from his position as a board member from the UK parliament (MP). He served as one of the board members being an advisor for a cryptocurrency project.
The resignation followed after it came to notice that the advisor was secretly benefiting himself with extra payments for his services, as reported in the Financial Times this Wednesday.
According to reports MP Grant Shapps resigns from Openbrix and steps down from his designation as a co-chair of a parliamentary blockchain organization and group of members he founded. This is purportedly revealed after the Financial times Alphaville got exposed to certain facets of a secret deal tranche that was undergoing between the MP and the renowned blockchain company. The deal was clearly out of protocols and when found out about the same; strict and immediate action was determined to be executed.
While Grant tried his best to bring the controversy to an end by justifying himself, the facets of evidence were against him. He extended his statement saying he wasn’t being paid for his work while OpenBrix had a clause in the secret tranche that was to pay the MP on crypto tokens.
OpenBrix is a blockchain-powered property platform that provides solutions and other similar services for real estate firms and participants. The company has induced the blockchain foundation onto the perfunctory ways of real estate transactions and trading. They enable a more secure and safeguarded blockchain platform that offers decentralized information storage for increasing transparency.
The company apart from increasing customers by enhancing real estate transactions and trading modules are set to release their very own ICO in December, as referenced by a report.
Shahad Choudhary the Founder and CEO of OpenBrix extended few surface of information to Alphaville stating that Shapps had already signed to further serve on the advisory board as the chair of governance for the company. The MP also includes signing a consultancy contract with OpenBrix as his recent participation.
The contract had a subset that was conducted by Shapps by writing an article about the potential and fate of blockchain in the real estate market and by further attending an OpenBrix event.
The contract, however, presented flexibility and didn’t clause Shapps to sign any further commitments until their existing ICO closes in December, according to Choudhary.
He added in a verbal statement for Shapps, stating “Honestly, Shapps had nothing to do or operate until after the ICO. His major role in the offering was the governance role, which only came into power after we have gotten the money. He could have easily passed his time by doing and operating nothing and even then he’d still be in the governance chair.”
The company has been supportive of Shapps earlier and would have paid him with an amount similar to all other four advisors. A total of 8 million BRIX tokens which would have been roughly valuing to 2.8 million pounds or 3.7 million USD.
It remains unclear how many of the total tokens would have come to Shapps but recently in the press conference h,e was purported to decline or accept any of the tokens.