Handing over the torch to David Johnston

Dear Masterminds,

I have been continuously involved with the Mastercoin project for the last year. I was the first person to reply to J.R Willet’s original announcement of Mastercoin on August 1st 2013, an early Exodus investor, a board member in the Mastercoin Foundation, and finally the Executive Director of the Mastercoin Foundation.

Throughout this time, the team and me continuously worked on building The Master Protocol layer and associated toolset, culminating in the recent release of the Master Core and Omniwallet beta . Finally, after one year of working on Mastercoin, I have decided it is time for me to move on to other projects. I believe it is the right move both for me and for Mastercoin, and I trust the continued development of the protocol in the capable hands of David Johnston.

David’s involvement in the Master Protocol over the last year has been considerable. Through the BitAngels network which he founded, he recruited many exodus investors and board members to the Foundation. He created the DAPps Fund, a VC which is focused on investing in various decentralized applications to boost the growth of the entire ecosystem, and had multiple critical contributions to the development of the protocol. Going forward, David will be taking over as Chairman of the Board of directors.

Our CTO, Craig Sellars, will continue leading the technical day-to-day development of the project.

As for me, I will remain on the board of the Foundation, and I am highly incentived for MSC to succeed (I haven’t sold a single mastercoin since I took the seat of Executive Director last year). I am grateful for the opportunity I was given to lead the project for the last year, and hope for it to reach new heights under David’s leadership.

Ron Gross

Handing over the torch to David Johnston

Recent Changes in the Mastercoin Foundation Board

We would like to update you regarding a few changes that have happened in the Mastercoin Board.

First, we added a few observers to the board:

Craig Sellars, our CTO, and Dominik Zynis, our Director of Bizdev, have been extremely helpful in navigating the strategic direction of Mastercoin. Nick Lambert, the COO of MaidSafe, has agreed to represent MaidSafe as an observer, and have already contributed meaningful insights.

Brock Pierce, an early Mastercoin investor, has chosen to step down from the board, in favor of neutrality and focus – please read his parting letter below. You can find the updated board structure on mastercoinfoundation.org.

I have chosen to resign from the Mastercoin Foundation board after working with the project for nearly a year. I got involved by being an early investor in the project through the Exodus address. My belief and confidence in the project and team has not changed in the slightest. The team has done an amazing job pioneering the extensibility of the Bitcoin protocol and have made many significant accomplishments to date with many more on the horizon. I will continue to be large stakeholder in MSC. The reason for my stepping down is that I have reached the limit of the number of boards I can serve on and be effective. My partner Jonathan Yantis is already on the board of the Mastercoin Foundation so I know my interests will continue to be represented by him and the rest of the board. I look forward to continuing to work with each of you to make Mastercoin more successful. Thank you again for creating the opportunity to get involved.

Best regards,


Recent Changes in the Mastercoin Foundation Board

We are recruiting a Director of Communications

The mission of Mastercoin Foundation is to become the standard protocol for smart properties and virtual currencies on the Bitcoin network by providing peer-driven development of enabling transactions for distributed applications that are easy to use, secure, and decentralized.  Recently projects such as MaidSafe have chosen Master Protocol to issue tokens for their p2p application economy, and we are regularly featured in the Wall Street Journal and other business publications; we are the premier smart contracts project for Bitcoin.

Job Summary:

The Mastercoin Foundation is growing, and beyond hiring developers we have a need  for a Director of Communications who will be responsible for all mass communications and support.

This role will inform Mastercoin holders of latest developments, engage and attract bloggers and press, engage the community through blogs, forums and social networks, attract new developers and open source projects into the Master Protocol ecosystem.  As well ensuring that we are managing the feedback from stakeholders for the software that Mastercoin Foundation funds.

This role has 3 key aspects regarding team:  Must have solid team experience

  1. This role will harvest and maintain healthy relationships at a technical level with developers who use Master Protocol or develop it so that good news is being communicated.
  2. Work with the Mastercoin Foundation management to ensure direction and communication regarding important milestones.
  3. Work closely with our business development team to cultivate relationships with developers building services businesses (exchanges, ATMs, wallets, games, etc.) in the Bitcoin space to ensure that the benefits of incorporating Master Protocol are considered.

Who we need:

■     An Entrepreneur with a clear vision of Mastercoin who is ready to embark on new terrain

■     Evangelist who will promote Master Protocol and the opportunity it represents

■     A Muse who will attract and convince new developers to use Master Protocol

■     Strong writer who will generate documentation and blogs, directly and through our dev team

■     Collect and analyze feedback from developers and other stakeholders on how Master Protocol

■     Cultivate relationships with press, analysts and bloggers in our ecosystem and represent us

■     Develop and manage Mastercoin support and social network engagement teams

You’re a good fit if…

■       A leader – Motivated, Self-starter, Enthusiastic, Creative, and Pragmatic

■      Passionate about Bitcoin, and p2p system as a platform for trading anything (legal)

■      Excellent verbal and written communication skills with a proven track record. You’ve spoken and written publicly (e.g., conference speaker, blogger, etc.)

■      Excellent prioritization skills to identify and deliver the most important things first

■      Self directed, can pull directions and resources from others as needed

■      Enjoys decentralized organizations without a physical hub or strict working hours

■      CS degree helpful or equivalent work experience

■      Willingness to travel every few months

■      Prefer similar style we are looking for and is familiar with forum culture, preferably familiar with Bitcointalk/reddit culture

Show us…

■      Blog post, video or other writing on a technical topic

■      Bitcointalk profile

■      Tech-related Social MediaTwitter accounts (Twitter, Facebook, LinkedIn, Quora)

■      Documentation or tech writing you created

■      GitHub repository

■      A track record of working in high speed startups

■      Your analysis of our communications status, and suggested action items to improve

■      Bonus: Management experience


Please inquire with jobs@mastercoin.org and copy Dominik Zynis, Head of Business Development at Mastercoin Foundation (dom@mastercoin.org).


We are recruiting a Director of Communications

Omniwallet is recruiting a CEO

TL;DR – We are recruiting a CEO for a new company – Omniwallet.co – which will be “the Blockchain.info of altcoins and appcoins”. Please review the interim business plan and the Omniwallet service and submit applications here (the standard $6000 referral reward does not apply here).

The Bitcoin 2.0 space, and crypto-currencies in general, are maturing.

We believe that crypto-currency users deserves one, great wallet, that supports all their needs. Users don’t want to have ten different wallets: One for Bitcoin, another for Litecoin, a 3rd one for Peercoin, more for Colored Coins, Mastercoin, Counterparty, Ripple, Ethereum … it never ends!

Instead of each protocol developing their own wallet, we believe there should be a good unified open source solution that works with all types of currencies, blockchains, and protocols, under the same account. We plan to support hundreds of currencies, leveraging a modular, plugin-based, open source architecture. Users will be able to code plugins to support their favorite crypto-currencies, and even host their own versions of Omniwallet.

There is a huge business case for such a wallet company. To fulfill this business need, we are taking the team, codebase, and brand of Omniwallet, and leveraging that for this greater purpose. We are calling out for an experienced entrepreneur and CEO to step in, solidify the vision and business strategy behind Omniwallet, and take it to the next level. Instead of a division inside the non-profit Mastercoin Foundation, Omniwallet will transform into an independent for-profit company that still supports Mastercoin and the Master Protocol, but is more inclusive to other protocols.

There are several potential revenue streams for such a company, such as affiliation, API/SaaS model, licensing fees for white-labeled wallets, and more. We look forward to assisting the new CEO in expanding and refining these models, raising money for the company, and guiding this evolution of Omniwallet.

What’s next? If you have what it takes, we eagerly await your application.


  1. Who should apply?
    1. People with the right management experience, experience with Cryptocurrencies, passionate, proven entrepreneurs, and the ability to raise money from angel and VC investors and build and lead organizations.
  2. Are we committed to the process?
    1. We believe it is the right move, both for Omni, for Mastercoin, and for the crypto-community at large. The timing and structure of this move depends on the CEO, the rest of the Omni team, and the business strategy we build together.
  3. Who will choose the CEO?
    1. The Omniwallet team, with input from the Mastercoin Foundation board. We will not “drop down” a CEO on the team without a buy-in from them.
      As the Mastercoin Executive Director, I will personally help the Omniwalelt team with the filtering and evaluation process.
  4. Will the CEO get paid? How? Is there funding from the Mastercoin Foundation?
    1. The Mastercoin Foundation itself will not be allocating a budget towards this company. However the CEO will receive founder equity in the new company.One path to proceed is for the CEO to solidify the business plan, understand the costs involved, present and approve a funding plan. Funding the endeavour will be done via the private sector and not via the Foundation. The CEO will negotiate their salary with the investors that he finds and secures.

      Potential funding sources include angels, VCs, crowdsale, and individual members of the Mastercoin Foundation board (but not the Foundation itself).

      Until funding is secured for the project, the CEO will not receive direct funding. We can consider doing a quick pre-seed round just to get the ball rolling, and setup for a larger seed/VC round in a few months.

      FYI, there is already a bounty of 5000 Peercoins available for integration Peercoin into Omniwallet.

  5. How will we monetize Omniwallet?
    1. This is a strategic issue the CEO will need to decide. We believe that we need to focus on growth first, not monetization, but we should also plan out for the future monetization in advance.
  6. Who are the current team members? Who else do we need?
    1. Answer on github.
  7. Who funded Omniwallet so far, and how much was spent?
    1. Omniwallet.co will start as a new company, from scratch. It will take as assets the vision, team, open source codebase, and brand & domain. Out of these, the only thing that belongs to the Foundation is the brand & domain.The Foundation invested around $200,000-250,000 USD in developing Omni thus far and building a core development team.
  8. How will shares in the company be distributed?
    1. This is up for discussion between the new CEO, the current dev team, and any new investors.
  9. How mature is Omniwallet?
    1. It has been running as Alpha in production with real money since April. It has recently graduated to Beta stage.We currently (July 8th) have 2421 total accounts on Omniwallet. Some statistics can be found on the status page, and more are coming.
  10. What is the key advantage that Omniwallet have over market competitors
    1. See the business plan.


References & Quotes

  1. Open issues on the Omniwallet.co business plan
  2. Eden Shochat, Aleph.vc
    “The potential employment impact for Europe by using the blockchain to store mastercoin / colored coins to implement local / topical currencies … is higher than the alternative value of a specific one currency like bitcoin”
  3. The Value of Appcoins
  4. Network Effects and Competition
  5. Current state of Master Protocol on Lets Talk Bitcoin

Bounty of 5000 peercoins for integrating Peercoin into Omniwallet

Omniwallet is recruiting a CEO

Mastercoin is proud to support the Bitcoin network using Fullnode.co

We are very happy to announce that we have purchased our very own server on Fullnode.co, and are running a full Bitcoin node at mastercoin.fullnode.co AKA (you can verify this by checking it on bitnodes.io).

Fullnode.co is an initiative to combat the problem of a declining number of Bitcoin nodes. It is a one-click Cloud service for setting up Bitcoin nodes, that anyone can use (by donating bitcoins) to “adopt” a full Bitcoin node and thus support the network’s health. We are proud to support and promote this initiative and encourage other Bitcoin organizations, companies and individuals to do the same.

The cost of adopting a fullnode is $10 a month, payable in Bitcoin of course.

We will soon be adding another full Bitcoin node to the network in the form of a Master Core node powering Omniwallet. However, regardless of any other servers we are running, we wanted to donate this little bit of extra compute, bandwidth, and P.R to the Fullnode effort in order to raise awareness.

So go ahead – adopt your own Fullnode! It really takes just a couple of minutes and only $10 per month.

P.S – it’s quite possible that the real, complete solution to the ‘Full Node Problem’ in Bitcoin requires some heavy thinking, and changing the monetization model, to properly incentives full nodes. Until that happens, we will be running a Fullnode.co.

Mastercoin is proud to support the Bitcoin network using Fullnode.co

We need a hiring manager ASAP!

It’s becoming clear to me that we need someone dedicated to managing the hiring process at the Mastercoin Foundation (thanks Taariq for that tip!)

Here is a current list of the roles we need filled. Most of these do not have job descriptions yet, and some of these haven’t been internally approved – but it’s clear we are going to be on a hiring and interviewing spree at for the next couple of months.

I’d like to kick that off by finding someone dedicated who can help us manage the hiring process for these upcoming months. They don’t need to do it full-time, but they absolutely need to be super talented, amazingly fast learner of our needs and great communicator, experienced in hiring and interviewing for top tech startups, and at least superficially familiar with Bitcoin. If you know someone like that, please send them in.

Note that this is not an RBB position at this point, and doesn’t qualify for our usual $6000 referral bounty.

We need a hiring manager ASAP!

Mastercoin Foundation is looking for a Web Team Lead

We’re still working on setting up a proper Jobs page, but in the meantime, we wanted to let you know of the openings we have for role based bounties:

  1. Web  Team Lead. We need an experience team lead to lead the Omniwallet team long term. Please see the linked requirements.
  2. Developers who want to get on the Omniwallet team, or the Masterchest Wallet team (more detailed job description TBD. TL;DR – Web/python/frontend/.Net experience).

Please send relevant resumes to jobs@mastercoin.org

Also we’d like to remind you that there is a bounty of $6000 in BTC (Dev MSC not included in this one to keep it simple) awarded to people who connect us with candidates who stay for at least three months.

Mastercoin Foundation is looking for a Web Team Lead

The Mastercoin Distributed Exchange is Live!

We are very happy to report that as of block 290630 04:54:22 GMT March 15, the Master Protocol distributed exchange is live and open for business!

Get the wallets!

Screen Shot 2014-03-13 at 4.26.25 PM

To get a piece of the action, head over to www.mastercoinwallets.org, choose your wallet, and start trading!

Here are a few pointers to get you started:

Continue reading “The Mastercoin Distributed Exchange is Live!”

The Mastercoin Distributed Exchange is Live!

Introducing Omniwallet (pre-alpha, developers wanted!)

Hello everyone,

You might have seen the variety of wallets coming out at mastercoinwallets.org (if you not – go check them out!). Today I’d like to introduce another exciting project we’ve been working on – the Omniwallet.


The Omniwallet will be a new type of web wallet that combines security, usability and multi-currency support. Continue reading “Introducing Omniwallet (pre-alpha, developers wanted!)”

Introducing Omniwallet (pre-alpha, developers wanted!)

We are hiring … developers developers developers!

We hereby allocate a $3000 + Dev MSC referral bonus to anyone who hooks up with new developers (Provided they are employed as fulltime Role Based Bounties and keep with the project for at least 3 months)

We are also open to developers who just want to earn a few bucks but don’t want to commit full-time.

Here is how to get involved … pro tip – skype our CTO Craig (udecker) or Ron (ripper234). The primary areas where we’re recruiting is low level Go developers for the reference implementation, and fullstack web developers for the Omniwallet project.

Developers Developers Developers Developers Developers Developers Developers Developers
Developers Developers Developers Developers Developers Developers Developers Developers
We are hiring … developers developers developers!