British MP Resigns From Advisory Board of Blockchain Project

British MP Resigns from Advisory Board of Blockchain Project

A British MP (Member of Parliament) has decided to resign from his position in the advisory board of a cryptocurrency project after it was found that he was getting paid for his services, news outlet the Financial Times reports Wednesday.

British MP Grant Shapps resigned from OpenBrix, a blockchain company after the Financial Times’ Alphaville revealed the secret pay deal between the Conservative MP and the company. Earlier, Shapps had claimed that he was not getting paid for his work, but some evidence indicates that the company had agreed to pay him via crypto tokens.

OpenBrix is a blockchain-backed platform that deals with transactions in the real estate industry. It provides a decentralized system for owners of real estate and participants that trade properties on its platform. In addition, the company is planning to launch its own ICO (Initial Coin Offering) in December this year, according to the report.

Shahad Choudhury, Founder and CEO OpenBrix, told the news outlet that the MP had signed a deal to serve on the advisory board “as chair of governance” for the blockchain company, and he had also signed a consultancy agreement with the company. As part of this contract, Shapps attended an OpenBrix event and also wrote an article discussing the potential of the technology in the real estate market.

This agreement didn’t require any more commitments from him until December, Choudhury said.

He added:

“To be honest, [Shapps] had nothing to do until after the [ICO] … His main role was the governance role after we’ve got the money. He could have quite happily not done anything and he’d still be governance chair,”

The blockchain company would’ve paid Shapps and other advisors on the board a total of 8Mln Brix tokens, the value of which would be around $3.7Mln. The exact amount that would’ve been received by the MP remains unclear, but he has denied receiving any tokens from the company as of press time.

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