An Independent Scotland Powered by Bitcoin?
A referendum on whether Scotland should be an independent country will take place tomorrow, Thursday, 18th September 2014. To pass, the independence proposal requires a simple majority of about 4 million voters. According to recent polls, it's going to be a close call. What will happen to Scotland's economy if the YES have their way, and what role might Bitcoin play? Pound, Euro, or Bitcoin? SNP leader Alex Salmond has insisted an independent Scotland could not be prevented from using the pound, but the National Institute of Economic and Social Research (NIESR) thinks Scotland would....
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Although Scotland has yet to vote whether or not to secede from the United Kingdom, pundits have already begun debating how an independent Scotland should structure its society - specifically its monetary policy. Theorists have noted that, if the Scots vote "yes" on the independence referendum, Scotland could prove a perfect testing ground for large-scale bitcoin implementation. Naysayers argue that free banking systems are unsustainable, pointing to the so-called "free banking" era in 18th and 19th century Scotland. Consequently, if Scotland's independence vote passes and bitcoin becomes....
Scotland may soon get ScotEx, the blockchain powered stock exchange next year. It will be the first independent exchange in the country since 1973. The Scots have always been receptive towards cryptocurrencies. There have been numerous proposals to implement digital currencies once the country separates itself from the United Kingdom. While the first Scottish Referendum failed to garner enough support for independence, many are still open to the idea of an independent Scotland. Sticking to their loyalty to cryptocurrency technology, the country is keeping up with the changing fintech....
Scotland decides to move out of the United Kingdom, then it has 9 different currency options including a cryptocurrency to choose from. People in Scotland have started exploring different currency options following Brexit. There have been calls for the Scottish referendum in the past. While Scotland decided against leaving the United Kingdom in the past, the recent vote by Englanders to leave the European Union may soon have the UK witnessing renewed calls for the separation of Scotland. The Common Weal think tank in Scotland has recently published a report with 9 different currency....
Guy Debelle, the assistant governor of the Reserve Bank of Australia (RBA), believes Scotland could become a testbed for cryptocurrencies if it gains independence from the UK. Debelle's remarks were addressed to the audience at the Financial Times Camp Alphaville event in London, in a rather unconventional fashion for a banker: in a T-shirt, speaking through a telepresence robot. Independent Scotland, Debelle reasoned, has a compelling reason to consider the option, as if the Scots vote for independence this September, they will be "short a currency". Debelle said: "The Scots can go back....
When Scotland was contemplating seceding from the United Kingdom, some citizens put forward proposals that an independent Scotland should adopt bitcoin-or another cryptocurrency such as the Scotland-themed Scotcoin-as its national currency. However, Scotland voted down the independence referendum, meaning that Scotland will remain in the United Kingdom and retain the British Pound as legal currency. Once this became clear from the polls in the days leading up to the vote, the Scotcoin price dropped. However, despite its decline, the Scotcoin price has avoided collapse. Scotcoin Price....