14 November 2025
Why Club Boards Ask for Proof-of-Reserve Before the Annual Meeting
The questions directors raise when a club holds digital assets in cold storage — and what documentation answers them.
Every November, treasurers across Korea field the same boardroom questions. The phrasing varies, but the concern is consistent: we approved a reserve figure last year — how do we know it still holds?
The trust gap
Unlike a bank statement, a cold wallet offers no monthly PDF. Directors see a number in the minutes and a hardware device in a safe. The connection between them is invisible unless someone documents it.
Three questions documentation answers
What addresses hold club funds? An address manifest lists every cold-storage address with derivation path notes. Directors see where assets live without anyone revealing keys.
Do on-chain balances match our ledger? Reconciliation worksheets compare blockchain snapshots to club accounting at agreed dates. Variances get explained line by line.
Who authorised movements? Signing ceremony logs record which members co-signed, on which device, and for what purpose. This satisfies directors who worry about unauthorised transfers.
What documentation cannot do
A proof-of-reserve binder does not predict future value, guarantee security against theft, or replace professional audit opinion where regulations require it. It shows what was true at documented snapshot dates using verifiable on-chain data.
Preparing your board
Share the documentation agenda before the meeting. Allocate twenty minutes for the treasurer to walk through the binder. Directors who read the attestation letter beforehand ask sharper questions and spend less time on basics.
If your club has not yet commissioned documentation, begin with an intake call at least six weeks before your annual meeting.