Text of a speech made by Scotcoin Investor, Temple Melville at Fintech II
Ladies and gentlemen
Daniel Broby very kindly asked me to come and say a few words to do with Scottish Fintech.
My name is Temple Melville and I am one of the major investors in the Scotcoin Ecosystem.
Our task is to make Scotcoin Scotland’s very own digital currency, which will support Scottish business and make Scotland a leader in the world of Fintech. To that end we intend to implement our business plan in Q3 this year when we will be migrating Scotcoin to a private blockchain that will be fully KYC and AML compliant.
This represents a significant and major cash investment to a defined end within the Scottish Fintech Ecosystem. It is our intention to offer the Scotcoin IP and technological solutions to the Scottish Government for the good of the Scottish people.
The technology behind the Blockchain
The technology behind the Blockchain (in whatever form) is a truly disruptive technology. So what are we doing about it here in Scotland? At the moment there are lots of talking shops, meet-ups and people eager to invest. The problem is there is a very limited number of uses as yet, and even where there is a use, there are many false starts and wrong turnings.
Yes, altcoins and crypto-currencies are a major area of investment. But without a positive and simple use, maybe we will never see major adoption throughout society.
Some nine months ago, Deloitte’s, and I see two of the people involved here today – at the behest of the Scottish Government, pulled together different people all engaged with Scottish Fintech, in an attempt to produce a coherent strategy. Scotcoin was proud and pleased to be included in those consultations. Various recommendations came from them, but to date there has not been a great deal of progress.
Advancement of fintech in Scotland
There were three areas I was personally very keen on. The first was a Scottish Fintech Directory that would encompass every aspect, including even peripheral aspects like legal, locations and accounting. We offered our services free to assist with this. In my view it is a crucial tool for inbound and native investment .
The second area was learning and education. To this end we offer CPD training courses in the blockchain and meet-ups to assist Newbies understand what is happening and why it matters. If anyone here wants us to come and talk to a group, please let us know.
The final area that is absolutely critical for the flourishing and burgeoning of Fintech in Scotland is seed capital. A fund is desperately needed to offer not only cash but expertise to help with business plans, technological and other challenges.
So today, I am stating our intention to deal with all three of these challenges.
Firstly, we will create the Scottish Fintech Directory and make it available online to one and all.
Secondly, we will offer training courses for free to any school, university or learning institute that asks us to talk to them.
And last but not least, with my business partner David Low, we intend setting up a fund that will help start-ups in this technological area to flourish and grow.
If you wish to help us in our endeavours please get in touch. All help and ideas will be gratefully received!