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OpenBrix

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OpenBrix Ltd is a British company founded in 2018 by Shahad Choudhury and Phil Millo that is reported to be developing a blockchain-based decentralised property portal.[1]

Initial coin offering[edit | edit source]

In August 2018 the Financial Times reported[1] that OpenBrix was planning to raise money through an initial coin offering by issuing 300 million BRIX tokens. The article speculated that the value of each BRIX might be $0.46 which would put the valuation of the company at $138 million.

Grant Shapps controversy[edit | edit source]

'Secret' pay deal[edit | edit source]

On 1 August 2018 the Financial Times reported that Grant Shapps, a British Conservative Party politician, had a pay deal worth up to £700,000 for consulting services and that he had failed to report this to the register of members' interests.[1]

Resignation[edit | edit source]

The story also reported that, after being telephoned by the journalist, Shapps resigned from OpenBrix and also the all-party parliamentary group on blockchain which he founded and chaired. The story was quickly picked up by The Times[2] and the Daily Express,[3] as well as the local paper in Shapps's home constituency of Welwyn Hatfield,[4] and also the online blockchain press.[5][6][7][8]

Call for enquiry[edit | edit source]

On 2 August 2018 Jo Platt, a British politician and the Shadow Minister for the Cabinet Office, wrote to the Parliamentary Commissioner for Standards calling for an enquiry into Shapps's conduct.[9] The same day Platt's letter was dated, the Financial Times carried the story in its print edition, noting also that Shapps claimed that he had listed the matter in line with advice from the House of Commons’ registrar of interests, and recorded his conversation with the relevant official.[10]

References[edit | edit source]

  1. 1.0 1.1 1.2 Kelly, Jemima (2018-08-01). "Grant Shapps resigns from blockchain positions after FTAV discovers secret pay deal". Financial Times.
  2. Hill, Jack (2018-08-02). "Tory MP Grant Shapps quits tech role after 'secret pay' claim". The Times.
  3. Bickerton, James (2018-08-02). "Top Tory quits tech firm board following OUTRAGE over SECRET £700,000 bonus scheme". Daily Express.
  4. Jankowicz, Mia (2018-08-03). "Welwyn Hatfield MP resigns potentially profitable side job after listing it as 'unpaid'". Welwyn Hatfield Times.
  5. Meng, Shui (2018-08-01). "UK Member of Parliament Resigns as Blockchain Startup Advisor". Coindesk.
  6. Huillet, Marie (2018-08-02). "FT: UK MP Resigns From Two Blockchain Roles Over 'Secret' ICO Pay Deal Controversy". Coin Telegraph.
  7. Haan, Cali (2018-08-02). "UK MP Resigns as Crypto Advisor After Media Reveals He Was Being Paid". Crowdfund Insider.
  8. Brew, Simon (2018-08-06). "Former Conservative Party chairman quits crypto startup over secret pay deal". Crypto News Review.
  9. Platt, Jo (2018-08-02). "Call for enquiry into Grant Shapps MP for breach of conduct relating to advisory role with OpenBrix". Twitter.
  10. Mance, Henry (2018-08-02). "Labour calls for inquiry into ex-Tory chairman Grant Shapps". Financial Times.

External links[edit | edit source]


This article "OpenBrix" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:OpenBrix. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.


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