Tag Archive for: scotcoin project


crypto uk - scotcoin

The Scotcoin Project CIC joins CryptoUK

We are delighted to announce that we have joined CryptoUK, the UK’s leading Association of Crypto companies. Apart from representing the Crypto industry in general, the Association has been working hard with the FCA to align the interests of both sides.

The Association has over 50 members including, the likes of Binance, Coinbase and CryptoCompare.

You can read about their code of conduct here: https://cryptouk.io/codeofconduct/

Their key position statements for 2020 are:

1. CryptoUK seeks to work with policymakers toward establishing a fair, transparent, and consistent approach for FCA regulated financial institutions to risk assess a digital asset-related business in the UK to open a bank account.

2. CryptoUK seeks to engage regularly with HMT to support policymaker education around emerging digital asset trends and business models.

3. CryptoUK seeks to establish with policymakers a balanced, fair and consistent approach to the governance and oversight of the sale of investment products referencing crypto asset to retail clients (futures, swaps, ETF’s, leverage products, etc)

Scotcoin and The Scotcoin Project CIC have long adhered to the principles of CryptoUK. Regulation and transparency, together with strong anti-money laundering policies will only enhance the acceptance of cryptocurrencies by the general public.

The Scotcoin Project CIC new ERC20 token is now ready for deployment

The Scotcoin Project CIC new ERC20 token is now ready for deployment

As you are aware TSPCIC has been committed to creating a new and more user-friendly Scotcoin for some time. After prolonged consideration and feedback from numerous stakeholders, funders and advisors we have settled on using the Ethereum blockchain as it satisfies the five original criteria laid down by the funders. These criteria are:-

  1. an efficient and cost effective migration process,
  2. a robust blockchain solution,
  3. an un-issued coin surplus (for distribution and reward),
  4. better access to regulated secondary markets and 
  5. a reliable delivery partner assuring durability and longevity.

Adoption of the Ethereum blockchain assures that Scotcoin remains a bona fide distributed ledger cryptocurrency whose future sustainability is not in the hands of a few.

We are now ready to start the migration process we have outlined in previous communications.

We should make it clear at this point that there is no compulsion on any holder of ScotcoinV2 to migrate to the new coin and if you do not want to, you should not do so.

If you decide to migrate you will be required to do so with your entire holding of ScotcoinV2. Partial migrations will not be acceptable.

Those wishing to migrate will first have to record their details with us.  You can do this by completing and submitting an application form which can be found at https://scotcoinproject.com/migration/

If you have previously completed a KYC (Know your customer) and AML  (Anti Money Laundering) check with TSPCIC you will not be required to do so again.

In addition to receiving the new ERC20 tokens (ScotcoinV3) in exchange for your existing ScotcoinV2 tokens, the director and advisors of TSPCIC have determined that a 1 for 1 bonus will be payable to holders of ScotcoinV2 subject to certain conditions.

The date from which migration will start is 1st August 2020. This is called Mday  (migration day). On Mday, all ScotcoinV2 token holders will have three months from that date to submit their migration forms. The bonus will only be available for those three months after which it will be withdrawn. Accordingly, the last date for registering to receive the migration bonus is 31st October 2020. Migration can still be done but without the bonus after that date

By way of example only, a ScotcoinV2 holder with 1,000 tokens will receive 2,000 new ScotcoinV3 tokens in exchange for his V2 tokens.

ScotcoinV2 tokens acquired on or after Mday will be not eligible for the migration bonus but will be able to migrate.


You will need an Ethereum wallet to receive your new ScotcoinV3 tokens. If you already have a hardware Ethereum wallet please provide details of your wallet address for credit on the form provided. Your tokens will be credited to this address. 

If you do not have an Ethereum wallet you will have to open one and provide us with your wallet address. The following information may be helpful but if you are unsure on how to open a wallet you should seek professional advice. 


There are various ways to create an Ethereum wallet and the most straightforward is Metamask. It integrates directly with your browser and they have a very good two minute video showing the entire process https://www.youtube.com/watch?v=GNPz-Dv5BjM

Metamask is currently not available on Apple devices as it is on a limited trial. Once that trial is over it is possible Metamask will work very well on Apple devices. It works well with Firefox, Chrome and Brave.

WE ALSO HAVE VARIOUS VIDEOS ON OUR YOUTUBE CHANNEL AT: https://www.youtube.com/c/scotcoinproject

MyEtherWallet is one of the first Ethereum wallet projects and is another trusted solution. Refer to their knowledge base at https://kb.myetherwallet.com/en/getting-started/how-to-create-a-wallet/ and decide if you want to use their website, phone app or extension. 

Whatever solution you choose, your wallet must be ERC20 compatible (as the two recommended wallets above are).



Where is this?

Scotcoin - Where is this

You can see it from a well-travelled road, the first person to tell us where it is or send us a picture of themselves with the banner gets 5,000 SCOT transferred into their wallet!

Entries via [email protected]

Please include:

  • Your full name
  • Your wallet address
  • Where the banner is

END DATE: When we get a correct entry or by 31st May. If the prize isn’t claimed we will donate to a charity.

Scotcoin as history

We have been engaging with Crypto Lioness for some time. She is an amazing woman who has overcome disability and anguish to carve herself a life full of meaning and success.

She has embraced digital and crypto currencies and her blog (https://cryptolioness.com/) tells of her adventures in crypto land. The whole blog is worth a read , but she has just published

The Scotcoin Project CIC or Who wants to be a Scotcoin Millionaire? I do!

We applaud her efforts and support for us and wish her and her family all the very best.

As part of our casting call for “ Firsts”, the Purple Lioness has written the following which captures what we are looking for from this initiative. Please read it.


My first Christmas in a hotel …..

When I was about 10 years old my parents took us to a big field beside some trees in a pretty part of Windsor and turning round in the car to face us they told us they were getting a divorce. It was no news to my older sister who was quite the eavesdropper but it was a shock to my younger brother and I. We naturally felt anxious and unsure.

Up till that point Christmas was spent at home with our wee green plastic tree bedecked with stringy tinsel, fragile baubles and tiny lights along green bendy wires, pretty multi coloured shiny decorations crisscrossing the ceiling, shiny foil lanterns hung down at their centre.

That first year when it was our first Christmas apart we did everything differently.

Our parents had joint custody so we were with Mum for Christmas Eve and Day then we went to Dad’s on Boxing Day for another Christmas Day which became our new normal.

That first Christmas however, we were told we were going to a hotel. Excitement! We were a little apprehensive too as we had never been to a hotel before. So on Christmas Eve we got dressed up in our new Christmas clothes – my sister and I had burgundy velvet dresses and our brother had a wee suit with a burgundy cummerbund and velvet bow tie. 

My Mum had booked a Christmas package so we were staying Christmas Eve and Day at the hotel. Then she would drop us off at our Dad’s on Boxing Day and return to the hotel herself. We were so excited..

In the great hall of the hotel we stood staring at the huge natural Christmas tree flawlessly decorated  and lit by hundreds of small white lights and a piper in traditional Scottish dress played people into the dining area. Excited wasn’t the word!

We sat at the big dining table, legs dangling in shiny Christmas tights staring in amazement at all that was going on around us. On the table was a white linen cloth with a festive Christmas runner along it, candles, silverware and as much holly as you could want.

There were crackers next to our plates with hats, jokes and a much less junky than normal present inside. Also on there were crystal dishes containing bright coloured cotton balls (not sure what they were for) wee individual curls of butter sat on ice cubes and ready-made cigarettes in all manner of colours! It was all utterly exciting!

We posed with the cigarettes pretending to smoke them while Mum actually did smoke them. We ate traditional Christmas Fayre including alcohol laced Christmas pudding which was brought flaming to the table in front of our goggling eyes!  Being children we of course had room for knickerbocker glory and that along with fizzy drinks topped up our sugar quota for the day.

Food and drink consumed, crackers pulled, jokes cracked and hats put on it was time for mischief! Being the horrid children we were we looked around for opportunity and spotting the coloured cotton balls, we dipped them in the dish of melting ice cubes and proceeded to try to throw them up the kilts of the piper band entertaining the dining room that evening. It was all magical, exciting, new and wonderful.

It was a bit like the first time I was talked through the process of setting up a crypto wallet. I was apprehensive as I had heard stories of the wrong button being pressed and everything disappearing, but I was excited too. A new experience!

Of course, once it’s done you feel relief but triumph too. A great feeling of success and achievement!

Crypto Lioness

Bad Pony Media


BAFTA celebrated GLASGOW production company BAD PONY MEDIA have announced a nationwide casting call for a nostalgia led ad campaign looking to promote SCOTTISH crypto-currency brand SCOTCOIN.

The multiplatform ads, which will be filmed at the Bad Pony Media studios in the heart of MERCHANT CITY in Glasgow, will feature people from across Scotland talk about their most memorable “firsts” – including first kiss, first concert and first time driving a car.

CEO of THE SCOTCOIN PROJECT CIC, TEMPLE MELVILLE, said: “We’re absolutely thrilled to be collaborating with the team from Bad Pony Media. We are looking for people of all ages and from all across Scotland to be part of the campaign and tell their stories.”

SCOTCOIN, which launched in 2013, is the world’s only dedicated Scottish digital currency. Initially conceived as a way for forward-thinking Scottish SME’s to challenge traditional business banking methods and charges, SCOTCOIN has grown to become a globally traded crypto-currency – similar to BITCOIN, and the soon to be announced new coin will have full smart-contract capability and a proud heritage in Glasgow culture.  Scotcoin Project CIC is the educational arm of the SCOTCOIN brand, which is set to promote knowledge of crypto-currency, Blockchain and digital money matters.

The ads themselves will be directed by multi-award-winning director/producer FRANK MCGOWAN. McGowan recently returned from the US, where he worked alongside WHOOPI GOLDBERG and BILL MURRAY for Bad Pony Media’s new HOLLYWOOD MEETS GLASGOW and SCOTLAND GOES GLOBAL projects.

He said: “These ads will be something really special as we’re looking for real people and real stories. They will be used across all platforms to promote how easy using digital currency for the first time can be. It’s going to be a lot of fun!”


Scotcoin KYC and AML


The Scotcoin Project CIC (“Scotcoin”)

Scotcoin announces that it has terminated its contract to develop a new KYC and AML blockchain solution for the digital currency following a lengthy and difficult period of discovery and consolidation in respect of the contract.

However, we are also pleased to announce we are in advanced discussions with a new supplier and we expect to be in a position to make an announcement in the first quarter of this calendar year. We are currently going through the financial and legal due diligence process.

The proposed new contract will provide Scotcoin with its own distributed ledger technology infrastructure which will be fully compliant with KYC and AML in all respects. It will be capable of processing a high volume of confirmations and transactions per second at minimal cost. It will also provide Scotcoin with its own fully compliant wallet.

Upon delivery of the solution it is anticipated that migration terms including incentives will be announced shortly thereafter.

Scotcoin will be entering into a consultation process with key stakeholders over the coming weeks and further announcements are anticipated.

Willie Fleming, Director, The Scotcoin Project CIC said: “We have had a very difficult year and have had many obstacles to overcome. These have held us up beyond what we expected. We are confident that now we have the right partners to take us forward to fruition”


Contact Details:

Willie Fleming
[email protected]

Information on Scotcoin is available @


bitcoin vs scotcoin

Scotcoin – Scotland’s Own Digital Currency, a World Coin With a Scottish Ethos


– A speech by Temple Melville to Scottish Fintech on Wednesday 19th September 2018


“Good afternoon! I represent Scotcoin, Scotland’s own digital currency, a World Coin with a Scottish Ethos.

I have just three things to tell you about today, all of them important. One is potentially profitable for you, one will benefit all the people of Scotland and one will target individuals and groups in need.

But before I do that, does everyone here know what blockchain is? And do you know that blockchain is an enabling technology, that it can exist without Bitcoin or any other coin, but that Bitcoin could not exist without the blockchain? Scotcoin is on a blockchain – more a little later.

So number one, how will what I have said be profitable be for you?

A little history. Scotcoin began in 2013 and is now one of the longest-lived country crypto currencies. We presently sit on the Counterparty Protocol which makes use of the Bitcoin blockchain. The problem is this particular blockchain has several drawbacks. Not the least is that in the world of regulation that is coming to cryptos, there is no method for ensuring who is sending what to who. So we at Scotcoin decided a couple of years ago we had to do something different.

bitcoin vs scotcoin

As you can see, Bitcoin can only do seven transactions per second. It takes 12 minutes to confirm a transaction, the cost per transaction when volumes are high is extremely volatile, and it uses more electricity than Denmark. None of that is very good.

Scotcoin, on the other hand, intends to move to its own permissioned blockchain shortly which will encompass KYC (know your customer) and AML (Anti-money laundering) to comply with all present and potential future regulations. We at Scotcoin are well ahead on this track – a committee of MPs has just published a paper daying that crypto currencies and Bitcoin in particular should be regulated.

You can see from the graphic which shows results from our testing that we should be able to do more than 50 transactions per second. We should also be able to confirm transactions in mere seconds, and the power usage should be infinitesimal in comparison to Bitcoin. If we can deploy our new blockchain with these parameters, Scotland will have another world beating industry.

We have several thousand holders of Scotcoin and have holders in more than 50 countries worldwide. On migration to our new blockchain, present holders of Scotcoin will be rewarded for their support by receiving a 4-for-1 bonus, an effective increase in value of up to 5 times.

Yes, you heard that right. I’ll repeat that. An effective increase in value of 5 times. That means if you have £10 of Scotcoin in its present form, in its NEW form you will have £50. So point one, that is how it will be profitable for you in the first instance, as long as you already have Scotcoin, or buy some very shortly.

In respect of point 2, we intend to occupy the social good works ecosystem and our plans are well advanced to do this. Scotcoin has been offered to the Scottish Government and discussions are ongoing. But in essence, the idea is that there will be established a commonweal fund that will be able to be used throughout Scotland to assist where the powers that be may not be able to step up to the mark. The point is that everyone in Scotland should benefit from this fund, and quite frankly this will be helping the Scottish economy to progress in the future.

And finally, point 3. I’m sure you’ve all heard of Social Bite and The Big issue. These organisations help people that have problems to get on their feet again. This is both our goal and our desire. I can think of no better future monument to Scotcoin than if people are able to say, Scotcoin eradicated homelessness in Scotland. And we are in good company here – Jeff Bezos has just announced a $2 billion fund to do exactly that.

So from all our perspectives, let’s pull together to make Scotcoin a World Coin, But with a Scottish Ethos.

And to be clear, what do we mean by a Scottish Ethos? Scotland has a long history of financial innovation and strong security for its money. We aim to keep to these traditions for Scotcoin. But the Scots also have a long and noble tradition of good works, charitable giving, of invention and forward looking. We aim to bring all these to bear by using Scotcoin in a way to enhance people’s lives right here in Scotland.”