Scotcoin has appointed Blockraise, the Zurich-based boutique Web3 venture accelerator firm, to support its plans for the next phase of its development.
Blockraise will play a key role – similar to a nominated adviser – in making the ethical cryptocurrency accessible to a global audience. Among other areas, the firm will advise Scotcoin on its liquidity strategy, community expansion, and tokenomics design ahead of the project listing its tokens publicly in the next few months.
By expanding its existing ecosystem, Scotcoin is aiming to develop a wide network of third sector organisations and preferred partners in the private sector which will accept the token in exchange for a range of goods and services – initially focussed on food, clothing, and shelter.
If, for example, a clothing shop had unsold garments that would otherwise be discarded, a charity could purchase them using Scotcoin and the business could use the tokens within the community for its own purposes.
Making Scotcoin available on a cryptocurrency exchange will allow more individuals and businesses to participate, with The Scotcoin Project – its marketing and treasury division – providing financial assistance and distributing the tokens on a controlled basis.
Scotcoin is free to exchange between holders using the Scotscan.io app, which is available to download on Google Play and Apple’ App Store.
Temple Melville, CEO of The Scotcoin Project CIC said: “Appointing Blockraise is the next major step in our strategy to expand the Scotcoin community. The firm is well respected in the global cryptocurrency space and we look forward to working with the team on this next phase of Scotcoin’s development, bringing the token to a much wider audience and helping to provide food, clothing, and shelter to those who need it.”
Danny Rowshandel, Co-Founder of Blockraise said: “We’re excited to help support Scotcoin’s expansion to a broader market by further integrating it with the Web3 world.”
Libby Keiller, Frame: [email protected]
Temple Melville, The Scotcoin Project: 07971 240 775 or [email protected]
The Scotcoin Project Community Interest Company (CIC) positions Scotcoin as an impactful tool to benefit the economy, environment, and society. It is driven by the core mission to make meaningful change, distinguishing it from other cryptocurrencies.
The Project aims to use Scotcoin as a force for good and is actively building a network of organisations, including start-ups, that will participate in both local and national trading in Scotcoin and, in turn, support its mission. Target industries include those with significant issues of over-supply or waste, where goods and services can be diverted to people in need, and in green issues such as carbon capture.