Pro-Independence Cryptocurrency Scotcoin Needs Value Gains
In a bid to break away from the U.K. and the pound Scottish Independence supporters have launched the Scotcoin; however, reports suggest that its low value would make the cost of everyday living increase. According to the British newspaper, the Express, the digital Scotcoin is worth less than the Zimbabwean dollar, with 1,000 Scotcoins amounting to 86 pence. At the moment, 481 Zimbabwean dollars amounts to £1, while £1 equals around 1,175 Scotcoins. Last year, the Scottish National Party’s George Kerevan called on the country to experiment with the digital currency saying that it would....
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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....
Temple Melville, Scotcoin’s majority holder, discusses the future of a cryptocurrency designed for the Scottish people. In late 2015, a major pub in Glasgow started accepting Scotcoin payments for pints. Scotcoin, a cryptocurrency created by Derek Nisbet, meant to serve as a currency for Scotland as an alternative to the British Pound, rose into prominence before Scotland’s referendum for independence from the United Kingdom. Rather than fading away after the “no” vote, Scotcoin has continued to rise in the cryptocurrency charts since. CoinTelegraph spoke to Temple Melville, majority....
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....
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 Scotcoin Project announced that they are to phase out the existing 'standalone' SHA256 Scotcoin network and fully migrate to the Counterparty solution, as a Digital Asset, utilizing the Bitcoin network infrastructure. Derek Nisbet, Founder of Scotcoin said: "Following on from the successful launch and subsequent roll out of Scotcoin directly to the Scottish people, and with the ongoing interest in developing further solutions for Scotcoin, we faced a real issue with respect to maintaining the integrity of the existing network, as Scotcoin was built on it's own blockchain. Thanks to the....