Economists Propose a Digital Currency for Scotland, Backed by Scottish Parliament and Banks

A year on from the national referendum where Scotland rejected independence from the UK - leaving the pound sterling to continue as its national currency, a member of Parliament from the Scottish National Party (SNP) issued a rallying call to his party and the country to begin experimenting with digital currency. George Kerevan, MP for East Lothian and a member of the SNP called for the country to start experimenting with digital currency and spoke about the British pound not being "the be-all and end-all," insisting that a new digital currency could help Scotland reach beyond its reliance....

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....

A member of parliament for the Scottish National Party (SNP) has urged his party to consider experimenting with a national digital currency. Speaking at the SNP conference held in Aberdeen - in northeastern Scotland - George Kerevan said he wanted the country to trial the ScotPound, a native digital currency that would co-exist alongside the pound sterling. The digital currency, Kerevan told BuzzFeed News, would be an important ready-made alternative to the pound when the next independence debate surfaced, and one that could 'bubble up' through the party. Kerevan's comments follow the....

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....

Scottish National Party (SNP) MP George Kerevan wants Scotland to work on a digital currency and has also said that this must be the next on the policy agenda. The MP spoke at length about the much debated digital currency Scotpound at a fringe event at the SNP conference in Aberdeen. Kerevan also brushed aside all conclusions which claimed that it was the advocacy of keeping Sterling that cost them the referendum vote. While the MP vouched for the digital currency yet he also admitted that he does not have an 'instant alternative.'. He further spoke about the digital currency in the form....