We’ve been working away in the background on plans for Scotcoin in 2017 – 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 in 2017 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.
- We will be offering Scotcoin IP and ecosystem to the Scottish Government as part of a process to allow them to take control of monetary policy in Scotland.