Scotland Has Plans to Develop Its Own Digital ScotPound
Scotland could soon be creating its own digital currency to operate alongside its national currency the sterling pound. Economists have been suggesting the Scottish government to consider launching its own digital currency and making it operate alongside the sterling pound. They argue this would allow the country to support small businesses and to....
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Scotland is being urged to create its own digital currency. Known as the ScotPound, the currency would operate in an identical manner to bitcoin. A Scottish think tank is suggesting that approximately S�250 be given to every citizen in order to jumpstart activity and get the "ball rolling" on the United Kingdom's latest trend in digital finance. Scotland's economy is undergoing a period of slow growth, and the NEF believes that this new currency could be a positive method for increasing individual spending power amongst citizens while preventing an increase to Scotland's national debt.....
A year on from the national referendum where Scotland rejected independence from the UK - leaving the pound sterling to continue as its national currency, a member of Parliament from the Scottish National Party (SNP) issued a rallying call to his party and the country to begin experimenting with digital currency. George Kerevan, MP for East Lothian and a member of the SNP called for the country to start experimenting with digital currency and spoke about the British pound not being "the be-all and end-all," insisting that a new digital currency could help Scotland reach beyond its reliance....
A member of parliament for the Scottish National Party (SNP) has urged his party to consider experimenting with a national digital currency. Speaking at the SNP conference held in Aberdeen - in northeastern Scotland - George Kerevan said he wanted the country to trial the ScotPound, a native digital currency that would co-exist alongside the pound sterling. The digital currency, Kerevan told BuzzFeed News, would be an important ready-made alternative to the pound when the next independence debate surfaced, and one that could 'bubble up' through the party. Kerevan's comments follow the....
Scotland should create its own digital currency, named 'ScotPound', an independent economic think tank has advised. The New Economics Foundation has produced a report that suggests introducing such a currency would have numerous social and economic benefits. A post by the foundation claims: "Scotland is perfectly placed to create a new digital currency and payment system. Such a scheme could stimulate local economies, create a level playing field for small businesses, and support social justice for all its citizens." The report proposes each Scottish citizen be given a 250 ScotPound....
The Scottish referendum is well known to anyone who has been following the news closely. Scotland, which is currently part of the United Kingdom, has expressed its desire to be independent. On this topic, the people of Scotland held a referendum where they voted for or against Scotland's separation from the country. While the voters against independence won with a narrow margin, one of the concerns raised about the after-effects of independence was about currency. Scotland has been and still uses the pound sterling as its currency, and splitting from UK would have meant changing their....