With Bitcoin Soaring, What’s Next for Cryptocurrency in Scotland?

With Bitcoin Soaring, What’s Next for Cryptocurrency in Scotland?

Can Brexit be cryptocurrency’s moment for the Scots? Willie Fleming of the Scotcoin Project answers. In the wake of a historic vote for the United Kingdom to leave the European Union, Bitcoin has soared, reacting to sinking markets as confidence in the European economy temporarily faltered. Scotland, meanwhile, voted overwhelmingly to remain in the EU, leading to predictions that the Scots will exit the UK, while not necessarily adopting the euro as their currency. This could lead to a prime situation for cryptocurrency to take firm root in Scotland. CoinTelegraph spoke with Willie....


Related News

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....

Scotcoin Price Avoids Collapse After Scotland Votes No on Independence

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....

Will Scotland Get its Own Digital Currency?

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.....

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....

Cryptocurrency Among Independent Scotland’s Currency Options

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....