Newsletter February 2016

1. Annual General Meeting
2. Moving on to blockchain
3. News from projects
4. Volunteers needed

Hello Robins!

This is going to be an exciting year. But first up, a reminder of what happened in the annual general meeting in December.

1. Annual General Meeting

The AGM was held in 17.-19. December in, with 99 members taking part.

The fiscal year July 2014 - June 2015 was a year of growth. The cooperative grew in terms of members by 315 new pioneers of finance (+121%) and in terms of assets under management by 198K euros (+45%). The assets under management were in the end of third year 0.639 M EUR (second year 0.441M EUR) and the number of members 575 (end of second year 260). The growth was rapid throughout the year, again, despite the fact that there was no budget for marketing and only very limited sums to be used for networking and PR. Our operating costs were only around 30K€.

The auditor’s report and the balance book are available in these links. For more details on the trading activity, there is the IB report for fiscal year 2014-2015.

The AGM also decided that the board has the right to use maximum 50 000 euros for implementing a better payment system with more payment options and a member/share register on a blockchain, facilitating a member market for shares. More on this in the next item of the newsletter.

Liisa Välikangas and Tiziana Terranova stepped down as board members, but they have promised to continue to work closely with us in advisory roles. Robin Hood thanks both Liisa and Tiziana for their work in the board! The AGM decided that Akseli Virtanen and Tere Vadén continue as members of the board, and Dan Hassan was nominated as a new member.

The full minutes of the AGM can be found here.

2. Moving on to blockchain

As you may have already seen on discourse, twitter or facebook, the work toward a move on a blockchain has started. The coop partnered with HitFin Inc. in this development that has two parts. First, HitFin will provide a payment system that is integrated with the member and share register, thus eliminating a big part of the back office work that is, at the moment, done by volunteers. Second, HitFin will develop a member and share register that works on the Ethereum blockchain. This will make possible a "members market" where you can sell and buy your shares to other members, thus by-passing the current limitation, where the coop can buy back shares only after the end of the fiscal year plus a mandatory waiting period of six months.

There are also other potential benefits to the blockchain register. For instance, it can facilitate allocation of support to projects on an individual basis (rather than the decision being made by a committee, as happened last year). It can also make possible the issuance of shares to be managed by alternative market instruments. The move to a blockchain register also seems to be a natural place where the coop can move from issuing shares in 30€ chunks in monthly series into the more familiar setting where voluntary shares can be bought with any amount of euros with a price that is set every day. In fact, there are so many new possibilities that we invite you to a discussion on the topic here.

When the new system is working, the voluntary shares of the coop will be registered as cryptoassets (tokens on a blockchain), while at the same time being backed by the stock portfolio. This is, if not the first, then at least one of the first such cryptoassets in the world, another financial innovation by the coop. Be proud and also tell your friends!
The work has already started and is expected to be ready in May '16.

3. News from projects

The mine in Skouries, Northern Greece, that is in the focus of the Radio Schizoanalytique and the Steki project, is in a state of turmoil. The mining company, Eldorado Gold, has announced cessation of most work, but it is unclear whether the company is really retreating or using the announcement as leverage for getting more slack from the govermnent.
You can learn more about the issues from the transmission of the Radio Schizoanalytique, available on the net, here.

Busy as always, Casa Nuvem, just held an intensive Carnaval Event in Rio de Janeiro, attended by thousands of people who look for quality music and sound experiments, highlighting at the same time important equality topics, in special freedom of gender, as it has been one of Nuvem focus in the last year. 

4. Volunteers needed

As always, the coop needs volunteers to run and to grow. In terms of the low-hangng fruit, you can help by re-tweeting and sharing our posts on facebook:

It would also be great to get more audio and/or video interviews from members:

See you there!


How to Became a Member?
Join now on our website or click the button on the right side of this letter. Register and book your first shares. After confirming your email address, you will get instructions for payment.

If you have any questions, ideas or proposals feel free to contact us.
SPREAD THE WORD! Please, help us continue by spreading the word. Here is a sample tweet:

NEWS: Robin Hood Coop moves on to the #ethereum #blockchain #coop2dot0 @Hitfin

Number of Members:


Assets Under Management:


Net Asset Value: 

17th February 2015

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