Scotland's Independence Vote, Bitcoin, and the Myth of Free Scottish Banking
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....
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The recent Scottish independence referendum prompted questions about whether or not an independent Scotland would consider adopting bitcoin or another cryptocurrency (such as the Scottish-themed Scotcoin) in lieu of the British pound. Alas, the Scots voted to remain in the United Kingdom, so the discussions proved moot. However, a new poll indicates the Scots may seek independence again in the future. That could bode well for bitcoin's future prospects in Scotland. Also read: Scotland's Independence Vote, Bitcoin, and the Myth of Free Scottish Banking. Cryptocurrency Could Play a Central....
Yes/No to Scottish Independence? Scotland has recently been trying to gain its independence from the United Kingdom once again. Throughout the last thousand years there have been a few times that Scotland has tried to gain its independence. In the early 13th Century the Scottish nobility were in dispute after Alexander III, the then King of Scotland, died young without leaving an heir as his three children had died within a short period of years previous to his own death. King Edward I of England was invited by the nobility to help decide upon a new king. However, Edward betrayed the Scots....
As a result of the United Kingdom’s Brexit vote to leave the European Union, American bank JP Morgan/Chase expects that Scotland will leave the UK, and will likely adopt its own currency. In a note to clients, JP Morgan economist Malcolm Barr indicated that Scotland is likely to hold its own successful independence referendum and exit the United Kingdom before the latter’s own departure from the European Union. “Our base case is that Scotland will vote for independence and institute a new currency at that point (2019).” Willie Fleming, director of the Scotcoin Project, an organization....
In the previous article, Scottish Independence, we highlighted Scotland's referendum for independence and a few notes about what it may mean. On Thursday the 18th of September, 2014, the Scottish people voted No to independence, choosing to remain within the union of the United Kingdom. According to gov.uk the majority vote won with a count of 55.3% to 44.7%. A significant factor about the voting turnout was the sheer number of people who did vote, 84.5% of the eligible voters. With the current dissolution with politics within the United Kingdom and globally, this was an astounding....
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....