What is ScotCoin?

Scotcoin is Scotland’s secure, online, digital currency. It’s Peer to peer, always available providing users with low to no fees and of course, complete anonymity.

Part of:
Fintech Scotland
Peer to Peer

Payments go directly to the individual or business, removing the need for a bank or building society.

Always Available

Banks close at the end of the day and digital banking payments can be delayed. The Scotcoin network runs all day every day so your transactions are completed almost immediately.

Low to No Fees

Transaction fees are incredibly low compared to traditional online payments methods including Paypal, Western Union, Bank Transfers or Credit and Debit Card charges

Anonymity

Using Scotcoin is more like using cash than a bank account. There are no account numbers and you don’t have to share your information with a bank or building society.

The Scotcoin Project

The Scotcoin Project promotes Scotcoin and helps to implement it’s use.

  • Distribute Scotcoin to the people of Scotland.
  • Inform Scotland’s people about their new digital currency.
  • Educate the public, businesses and agencies about Scotcoin, crypto-currency and blockchain technologies.
  • Ensure Scotcoin is widely accepted in all areas of commerce and society in Scotland.
  • Incentivise and stimulate local trading initiatives.
  • Keep wealth locally and grow the Scottish economy.
  • Provide technical support for users and merchants.
  • Lead marketing initiatives for businesses who accept Scotcoin.
  • Build a network of businesses who will trade amongst themselves in Scotcoin.
  • Encourage and support local business startups.
  • Advocate for social enterprise and environmental causes.
  • Support local social, feeding, housing and caring initiatives.
  • Lead and encourage debate on building a stronger, cohesive and more equitable economy in Scotland.
  • Champion personal privacy and strong encryption.
Scotcoin Blue Logo

The Scotcoin Project will achieve these objectives through educational and promotional initiatives throughout Scotland and beyond.

Everyone attending a presentation by the Scotcoin Project will be shown how to get started with Scotcoin.

The Scotcoin project is a not for profit organisation. We raise funds through sponsorship and merchandise sales.

The Principle Objectives For Scotcoin

We’ve been working away in the background on plans for Scotcoin – as ever, we want your opinions and input into where we are going…

One of the main influencers on our direction has been our underlying belief that governments are going to insist upon digital currencies being regulated. HMRC released their approach to digital currencies in March 2014, and China followed suit recently insisting that digital currencies would require identity verification.

We want to make using Scotcoin as easy as using cash, to get it accepted in more places with a hassle free way of paying and receiving Scotcoin via individuals and businesses. And we want to continue to be at the forefront of this new digital technology, keeping it secure and safe to use.

The principle objectives for Scotcoin are to:

  • Migrate to its own private blockchain where all participants are identified and regulated.
  • Achieve conversion directly from fiat to Scotcoin without involvement of any intermediate currencies.
  • Establish an efficient secondary market for trading in Scotcoin.
  • Implement the business plan to increase circulation of Scotcoin to as many individuals and businesses as possible in Scotland.
  • Implement the business plan to increase the number of outlets willing to accept Scotcoin in exchange for goods and services provided.
  • We are working with Strathclyde University to help them establish a cryptocurrency for its learning modules. Their intention is to use this to conduct financial research into the behavioural aspects of virtual currency usage.
  • We will be assembling a high powered advisory body to help with these aims.

Advisory Board

Scotcoin has been working hard to bring together its advisory board and is delighted to announce that it now boasts an impressive collection of individuals who collectively have over 100 years experience in blockchain, finance, sustainability, cryptocurrency, HR and senior management – this team will provide invaluable insight, guidance and stewardship to the development of the project going forwards.

David Low

David is a Scottish based businessman. He is Chairman of Lowdit Partners, a family investment office with interests in sports and leisure, blockchain and digital currency technologies and asset trading platforms. He has been a digital currency investor for over five years and in 2016 acquired a substantial holding in Scotcoin. He is also an active investor in the social and ethical spaces.

Edward Crozier

Edward specialises in corporate governance, reputation management, devising structured products and fund raising in the commercial sector. He is a former Director of Glasgow Life, Scottish Opera and of award winning Fintech company, Castlight Financial. He is a past President of the Scottish Rugby Union and judge in the National Scottish Business Awards. He is currently Chair of Netball Scotland and of The Theatre Royal, Glasgow. He was educated at Glasgow University's Business School and Caledonian University.

Peter McGowan

Peter is Managing Director of the ECS Group, an award-winning compliance and safety group of companies. His long business career has been marked by continual success and strong growth. Peter is a keen sports fan and is a director of Glasgow Rocks Pro basketball, Scotland's only representative in the British Basketball League. He is a supporter of a number community focused projects in Scotland and further a field. He is also a corporate sponsor of Ups 'n Downs and The Travers Foundation.

Paul McLeary CNCI ECSE

Paul is 47 years old. He has had a successful and varied career, latterly in senior management and high level technical situations. He is both an exceptional engineer and fully qualified IT and WiFi specialist. He is a lateral thinker who will bring leadership and management skills where needed to the Scotcoin Project.

Scotcoin Verifications

HACKEN AUDIT DELIVERS TOP RATING FOR SCOTCOIN

The code audit for the Scotcoin smart contract has been carried out by Hacken (hacken.io). The audit resulted in the award of a top rating placing Scotcoin at the very top of Hacken’s grid system.

The classification is described as ‘well secured.’

Hacken themselves are a leading global cyber security company with a focus on blockchain security. Hacken Cyber Security services is part of the Hacken Group, which Includes CER.live, HackenAI, HackenProof. CER.live is the cybersecurity data provider for CoinGecko (www.coingecko.com)

Temple Melville, CEO of The Scotcoin Project CIC, said: “I am delighted that our code has been so well endorsed. Hacken are a top 10 code auditor, and we are delighted we were able to secure their services. The way is now clear for us to move forward towards our IEO .”

ETHERSCAN VERIFY

Etherscan recently verified Scotcoin, an ERC20 token, under the name ‘SCOT’.

Temple Melville, CEO of The Scotcoin Project CIC, commented: ‘We have huge respect for Etherscan and the work they do. They are established as the market leading BlockChain Explorer, Search, API and Analytics Platform for Ethereum. To have secured the name ’SCOT’ Is a very special moment for us on our ongoing journey with Scotcoin.’

Everyone is delighted with the news, obviously, including head of security, Brian Mackay who added: ‘This will make the Scotcoin v.3 ERC-20 token a more trusted asset, appearing on the well-known Etherscan database of tokens on the Ethereum Main Net.’