David Low, Chairman of The Scotcoin Advisory Panel, recently appeared on the Scotcoin Podcast where he spoke to Darren Parkin at The Digital Commonwealth. Here are some key moments from the broadcast:
Q: Do you feel a sense of a changing climate around crypto in general?
DL: ‘There’s very little criticism that I witness of the crypto space now. It’s not like five, six, seven years ago when it was just seen presented by the establishment as just a tool for international drug dealers, et al, to use. You don’t really read too much about that now because it looks silly. There is far more value stolen, purloined, or that disappears in the conventional banking system than there has ever been in the crypto world to date. You very rarely read about that. What you find is that those threatened by the emergence of a new technology tend to be behind the criticism.
Q: Will we see Scotcoin listed on an exchange?
DL: Yes. Our focus to date has been in creating and developing the business plan. There is no point – it’s so obvious but not a lot of people fully appreciate it – in just listing for listing sake. If you list for listing sake with no purpose, eventually you’re a shooting star, your value will be zero. Because what’s the point? There’s now over, I think, around 14 ,000 cryptocurrencies of which 4 ,000 are just dead tokens. The vast majority are just what are called ‘sh** tokens’ – the name for tokens that have no purpose. Of the remaining tokens two -thirds of the total market capitalization of the crypto space is taken up by Ethereum and Bitcoin on its own. So all the others are scrambling about for a purpose. Some of them do, but most of them don’t. So our emphasis has been on creating a purpose with the listing to come at the end. Some people find that frustrating, but I’m not too concerned about that.
Q: When are you looking to list?:
DL: ‘It is our intention to list later this year market conditions permitting. Some people find the delay frustrating and it’s even frustrating for us. But you only get one shot at the title as Marlon Brando’s manager said in ‘On The Waterfront’. And we want to get it right. Right now listing is narrowed down to Q3 this year. So that’s July, August, September. August is a dead month. July is a holiday month as well. So, practically, if you wanted to speculate, we would be talking about September on two exchanges against Tether.
Q: Can you share your thoughts on the criteria for chosen exchanges?
DL: ‘You’ve got to be very picky about the exchanges. As you probably know, there’s over 700 exchanges now. Again, most of them don’t really serve any purpose. I use the euphemism as being like the English football structure. I don’t think we’re ready for the Premiership, but we want to go into a championship style exchange. What does that mean? It’s a top 50 exchange rather than a 600 in the list exchange. ‘Another factor that you take into account when you’re looking at the exchanges is the customer-client mix. If you’re exposing yourselves to two different bases, you’re looking for as little overlap as possible. So that’s what we have done.’
Q: Are there any thought you’d like to share in conclusion?
DL: ‘We’re safe, we’re real, we have a purpose and the final leg for us is to get the tokens listed as I’ve described against Tether, which is paired against the dollar basically – because that’s international. So that’s what we at Scotcoin are all about.’
The full interview with David Low is available on the Scotcoin Podcast which is available on all podcast streaming services including Spotify and Apple. Link: https://player.captivate.fm/show/7c51d8f3-8fcc-4f73-8ec4-f5ff6971a45c
