In a small bowl, add boiling water to cocoa and stir.
In your kitchen mixer or in a medium-size bowl, combine butter and sugar and beat at a high speed for 7 minutes.
Add vanilla essence.
Add eggs one by one and mix for another 7-10 minutes on high speed.
Fold in the flour and baking powder gently, and mix on medium speed.
Once all the flour has been incorporated, add buttermilk and cocoa and continue to mix.
Transfer to springform pan and bake for 40 minutes.
When a skewer is inserted in the middle of the cake it should come out clean.
If the cake dips a little in the middle, don't worry, you're going to invert the cake and cover it with chocolate ganache.