Independence May Bring Scotland Bitcoin-like Cryptocurrency
Dr. Craig Dalzell recently authored a discussion paper titled ‘Scottish currency options post Brexit’. This paper was written for a Scottish Think Tank called Common Weal. In the paper Dr. Dalzell discusses the ramifications of a possible Scottish currency after Brexit. There have been calls for another Scottish referendum seeking independence from the United Kingdom, after the UK in its own referendum voted to leave the European Union. Just after the results of the Brexit referendum were made known, Scotland’s First Minister Nicola Sturgeon announced her intention of holding a second....
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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....
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....
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....
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....
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....