Archive for month: October, 2017
PRESS RELEASE: 23 October 2017 – SCOTCOIN TO MIGRATE TO ITS OWN PRIVATE BLOCKCHAIN
The Scotcoin Project is pleased to announce that it has awarded the contract to manage the migration from the Counterparty blockchain to its own private blockchain to Scotesq, a fintech company based in Edinburgh, Scotland.
The new blockchain will remove intermediate currency risk allowing participants in the ecosystem to move directly between Sterling and Scotcoin. The new blockchain will also comply with Financial Conduct Authority ‘Know Your Customer/Anti Money Laundering (KYC/AML)’ obligations.
The investors’ objective and desire is for the Scottish Government to approve Scotcoin as the country’s unofficial cryptocurrency.
Willie Fleming of The Scotcoin Project said:
“We are proud to announce this important milestone in the development of the currency. Regulation is coming to the crypto world, an evolution we both embrace and welcome. The adoption of KYC/AML responsibilities will assist Scotcoin in gaining the legitimacy and respect necessary for Scotcoin to play its rightful role in Scotland and Europe’s economy.”
David Low of Scotesq said:
“We are delighted to work with The Scotcoin Project on this important development of the Scotcoin ecosystem which will ensure all work associated with the migration will stay in Scotland.”
Notes for media:-
Scotcoin is a crypto currency established in 2014 by Derek Nisbet, a Scottish fintech entrepreneur. It operates on the Bitcoin blockchain using the Counterparty protocol and has a market value of 10 million USD placing it in the top 200 of global crypto currencies as measured by the USD value.
In 2016 all intellectual property associated with Scotcoin was acquired from Nisbet by Scottish fintech investors, David Low and Temple Melville
The investors’ desire is for the Scottish Government to approve Scotcoin as the country’s unofficial cryptocurrency. It is acknowledged that currency is not a devolved responsibility whilst Scotland remains part of the UK. Scotcoin could only become an official currency if Scotland was independent of the UK or current legislation was changed.
Media Contact: Willie Fleming – 07494 540764 [email protected]
BUY SCOTCOIN @ Exchange.ScotcoinProject.com
Scotcoin Accepted Here
The Scotcoin Project team is working on getting Scotcoin accepted by a wide variety of vendors – we want retailers to be able to display our logo so you know you can spend your Scotcoin in their shop.
Our marketing team was equally split on the different logos though – so in the true spirit of Scotcoin being a coin for the people, we want you to choose your favourite.
- The first logo has a blue background, with a white Scotcoin icon in the middle, and white text around it.
- The second logo has a white and blue background, with a blue Scotcoin icon in the upper half, and white text below it.
- The third logo has a white background and blue boarder, with a blue Scotcoin icon in the middle, and blue text around it.
Which graphic do you prefer? Please vote in the poll below to help us decide!
Something a little different for our blog… The Scotcoin team had the great privilege to ask one of the UK’s best loved IT giants some questions.
Scotcoin Q&A With Dame Stephanie Shirley
At Scotcoin, one third of our holders are women whereas ninety-six percent of bitcoin holders are men. What are your views regarding cryptocurrency and block-chain technology being dominated by men?
Super! Has it not been ever thus in finance?
What advice would you have for the tech world to increase female involvement in the industry?
As with other sexist cultures, the best way to get women to break into the male world of technology remains fighting for what women want: flexible working, free childcare and genuinely equal pay. Will the gender pay gap legislation help? Don’t’ wait for women to leave but organise regular “stay” interviews. Maintain contact and make it easy for women to return after a career break. Since your gender ratio will change as women move into family mode, do a bit of positive recruitment by advertising in places that reach women. And publish data on pay by diversity.
Do you have any views on the new way start-ups are raising funds through ICO’s? Do you see charities using ICO’s to raise funds to bolster their operations?
Start-ups are risky enough without bypassing the venture capitalists’ regulation by raising funds through ICOs. I don’t believe the Charity Commission likes ICOs… Whereas I definitely do.
What are your thoughts on the future of the Internet and, in particular, how it may impact upon a global society?
I co-founded the Oxford Internet Institute roundabout the Millennium to study precisely this. It was the first multi-disciplinary institute in the world looking at the social effects of the internet – the world of the 21st century. This, of course, includes the Internet of Money. Earlier this year it explored the various paths to our digital future and published its Global Internet Report. If only there were a crystal ball! No-one can predict the internet’s future but it’s too important to ignore and by shaping our societies, cultures and economies the internet will define the world ahead. For many young people, the internet is life and is focused on The Digital Divide, Personal Freedoms and Rights and Media and Society.
How do we ensure the continued development of an internet serving all people? In 2016, the Internet Society began to draw on the expertise of key stakeholders from around the globe. The considered conclusion is that while the technology will permeate all aspects of society in as yet unimagined ways, the founding principles of openness, inclusivity, collaboration and transparency will not change.
Development of new applications has moved on at pace in recent years, where do you see it heading over the next 5 – 10 years?
I hope the head-mounted displays will have been replaced by wearable (by which I mean lightweight) computing glasses. I got involved in my first VR project in 1999. And still find its artistic and medical applications fascinating.
What would you say are the most interesting high points you have had over your career?
Governance issues. The transfer of my company’s control from me to the workforce which took me 11 years to achieve. I also got a tremendous kick out of our first million pound sale.
Scotcoin sits outside the normal banking framework thus disrupting current financial institutions. How do you feel about disruption?
Could the Scotcoin future of money contribute to devolution? Post Brexit, would a Scottish Referendum herald digital cash as an alternative to both the pound and the euro?
Do you think if you were working today you would be described as a ‘disruptor’?
I was shocked when first called a disruptor. Was it an insult? But that’s exactly what I am: changing the culture, the social norms as well as the technology.
My current life is focused on autism, my late son’s disorder. And yes, I continue to make waves (to mix my metaphors) in that field.
Dame Stephanie Shirley CH
18 October 2017
Did you just notice that the ONS says we have half a trillion less foreign exchange than we thought we had?
This is not because they have changed the way they count things. This is because it has leached away and because we have mismanaged both our economy and finances for years. If you think it doesn’t matter think again. The Brexit situation with this scenario will mean the GBP/EUR rate falling dramatically, probably another 15%.
Now in one way that’s good ( lower costs of exports) and possibly good for the FTSE as well ( all those foreign currency earners) but in another sense it’s an utter disaster. Why? Because it means our perceived credit worthiness will plummet, we have nothing to withstand any shocks, and finally, we probably won’t be getting any Euro influx to buy Gilts. If that goes we are back to domestic institutions – and they don’t have enough to cover the Budget deficits. Perforce the cuts that should have been made from 2010 will have to be made to stop HMG going bankrupt.
This is the UK problem but it is actually a worldwide problem. It’s one of the reasons Bitcoin has gained so much traction in the last year or so. It’s why people are regularly taking avoiding action in terms of domestic savings ( which just piles pressure on the problem).
We in Scotland are lucky. We already have our own Digital currency – Scotcoin. When in the 1930s the WIR currency basically saved Switzerland from bankruptcy, the global lack of liquidity was addressed in an innovative and substantial manner. We can do the same now in Scotland with Scotcoin. Avoid the drop in the external value of GBP and buy on https://exchange.scotcoinproject.com
Update from Scotcoin HQ:
We’ve been pretty busy over the last few months – and as cryptocurrencies continue to gain more traction, Scotcoin has benefited from the resulting publicity. More countries worldwide are taking digital currency seriously and want to be able to legitimise its trade. Scotcoin remains at the forefront of this with our Anti-Money-Laundering compliant exchange.
We’ve also been engaging with a number of big-name companies, both inside Scotland and internationally.
Scotcoin is now in major talks with one of the largest hotel chains in the world! Not only that, but we are also talking to:
- cab companies
- estate agents
- retailers of all sizes and many many more!
WATCH THIS SPACE!
Just in case you thought Bitcoin had had its day, I’m here to tell you that you are very wrong. Not only is the US Dollar price nudging $5000 once again, but Bitcoin has re-asserted its dominance. It presently stands at over 52% by market value of ALL digital currencies. And that’s with something like 1200 crypto currencies now in existence. Bitcoin itself is standing at over $80 billion in value, and the daily trade is as near as makes no difference $3 billion. That doesn’t look like a “has been” to me.
True, other crypto currencies have suffered of late. Partly, that must be because people have been taking profits elsewhere and reinvesting in Bitcoin. More importantly, the shocks from China are taken care of. In fact, it is beginning to look as if the Chinese may have shot themselves in the foot, as everyone who could has taken their crypto currencies and headed for jurisdictions making less opaque statements. Other countries have been massive beneficiaries of the Chinese “clampdown”. I still believe this has more to do with the Chinese authorities worries about their own currency, rather than an anti-Bitcoin stance per se. And now we hear that maybe – just maybe – the Chinese government might have being doing all this for its own ends. What is absolutely clear is that regulation is coming – and fast.
So how is Scotcoin getting on? We have, of course, taken the position that we will be fully KYC and AML compliant. We have had this stance for well over 18 months, and have endured the slings and arrows of people telling us No, Never Going To Happen. Well our ICO Whitepaper is almost ready which will confirm we are right and will enshrine KYC and AML within Scotcoin V3. We are very shortly going to sign the contract to create Scotcoin V3 with all that that entails. We will be signing up new licencees who will have the authority to use Scotcoin’s Intellectual Property. We will be engaging with partners – Gold, Silver and Bronze – to help us in our objectives. Our new professional Marketing team is talking to all sorts of organisations and businesses, from Hotel groups to cab companies, to bring them onboard. Our Meetup Group goes from strength to strength.
You’ve heard of the proverbial swan – serene above the water, but below the waterline, the feet paddling away like mad. Well, we are a bit like that at the moment, but paddling to good effect. Time to buy Scotcoin is now, so get your’s at:
What happens when you put money on deposit? Over a period of time, and as long as you leave the money where it is, you will receive some interest. Nowadays of course that interest is what could only be described as piffling.
What happens if you invest in gold? If the price doesn’t change, you are worse off because there are holding costs (vaults, insurance and so on)
Suppose you invest in Bitcoin. Now suppose further that instead of rocketing up as it has done, it remains the same price in USD or GBP terms. You are at least no worse off.
Now suppose, instead of merely being no worse off, Bitcoin paid “interest”. In the same way that putting money on deposit adds to the stock of what you have in cash terms, you would have some extra Bitcoin. And the longer you held, the more you got.
If you’ve been following the Scotcoin Story, you will know we are in the final throes of moving towards a White Paper to transform the Crypto landscape. Part of that revolution will REWARD holders of Scotcoin for holding Scotcoin. Interest by any other name. And early holders will get more than later holders. We are really delighted we have come up with a formula which will reward our longstanding supporters. Have you got yours?