A pleasure to announce that Scotcoin has been awarded the ‘Most Community-Focused Digital Currency Platform 2019 – Scotland’, by the CV Magazine’s Corporate Excellence Awards 2019.
New Social Media Manager at Scotcoin
Scotcoin welcomes onboard Elizabeth Myles-Geddes as Social Media Manager.
Elizabeth has worked in digital marketing for 7 years with clients as diverse as Harvey Nichols, Heriot Watt University and the Google sponsored Start Up Grinds in Edinburgh and Glasgow. She currently runs her own consultancy advising micro businesses on all aspects of their digital strategy and content and in the past 6 months has helped 3 companies increase their revenues by up to 500% She holds an MSc in International Marketing specialising in Digital Marketing from Heriot Watt University and an Executive MBA from Leeds University.
Counterparty and DEX Market
The situation with the Counterparty Dex is the same as it’s always been – any coin on the protocol is beholden to the value of XCP, Counterparty’s token. You may not have picked up but both Bittrex and Poloniex have stopped trading XCP and TUX will cease trading altogether on 7th July. If you have any coin with them GET THEM OUT! As a result, the value has rapidly disappeared towards $0. We are working towards putting Scotcoin onto its own blockchain, but linked to value of over $5billion. We will no longer have a price which is indicated by a third-party digital currency and which is volatile.
Be assured these current XCP changes will have no adverse effect on Scotcoin longer term. If you have any XCP you would like to sell, the Scotcoin Project will buy them at $2 per XCP which is more than the existing exchange price OR 10% above prevailing.
Contact [email protected]
Scotcoin has been working hard to bring together its advisory board and is delighted to announce that it now boasts an impressive collection of 7 individuals who collectively have over 100 years experience in blockchain, finance, sustainability,cryptocurrency, HR and senior management – this team will provide invaluable insight and guidance to the development of the project going forwards. Full details will be announced immediately prior to the MeetUp scheduled for 9th July 2019.
The Scotcoin Project as an Educational Resource
The Scotcoin Project is in an excellent position to partner with schools and universities to offer resources to support education around alternative economies and a working model for emerging cryptocurrencies.
Temple Melville is one of only two people in UK certified as CPD instructors for Blockchain and the only one in Scotland, we are currently developing an e-book based on course materials.
Scotcoin is speaking to Stirling, Strathclyde and Glasgow Universities who now offer MScs incorporating Fintech and additionally to Edinburgh University which has its own blockchain and cryptocurrency research hub.
Scotcoin welcomes our first intern Emma who starts on 15th July for 6 weeks.
Emma is doing a BSc in Business and Economics at Lund University. Elizabeth will be managing Emma and both will be based at Collabor8te.
Third and Voluntary Sectors
Scotcoin wants to strengthen its existing links with BobathScotland, Eat Up, Social Bite and to develop new partnerships in the arts and sustainability industries. If you have any suggestions please let us have them.
Raising Awareness of the Scotcoin Project
We are currently in talks with the Institute of Directors, the Google Sponsored ‘Start Up Grind’ franchise,Turing Festival and Fintech Summit. If you would like us to come and talk to your workplace, your friends or just have a MeetUp where you live, please let us know and we will try to accommodate you.
We have a limited number of 500ml bottles of Elderflower Gin. This is from only 120 bottles coming to the UK this year out of a total production of just 5000 bottles. All you have to do is buy 5000 Scotcoin from the exchange and we will send you a bottle free. I can tell you it is delicious!
We have had some enquiries about what is happening with Counterparty and its DEX market.
All Counterparty Protocol coins have fallen massively because they are all denominated in XCP, which is Counterparty’s own token. Less than a year ago, 1 XCP was around .004 Bitcoin. Now it stands about .00004 ie a fall of 99%.
The situation with the Counterparty Dex is the same as it’s always been – any coin on the protocol is beholden to the value of XCP, Counterparty’s token. You may not have picked up but both Bittrex and Poloniex have stopped trading XCP and TUX will cease trading altogether on 7th July. If you have any coin with them GET THEM OUT! As a result, the value has rapidly disappeared towards $0. This very reliance is why we have been working for a long time to remove SCOT from the Counterparty protocol to its own blockchain. This fall has, of course, had a serious impact on the values trading on the Counterparty Dex. I know some people have been able to buy at an exceedingly attractive price.
For now, the only external exchange offering to sell XCP is ZAIF which is Japanese and uses Japanese Yen as its base currency. Counterparty DEX has a BTC/XCP pair, where it is possible to trade BTC for XCP – and it works!
In respect of XCP, its current total value is only about $3m. We are working towards putting Scotcoin onto its own blockchain but linked to the value of over $5billion. We will no longer have a price which is indicated by a third digital currency and which is volatile.
Be assured these current XCP changes will have no adverse effect on Scotcoin longer term.
If you have any XCP you would like to sell, the Scotcoin Project will buy them at the market price. Please contact [email protected]
About Bitcoin Pizza Day: Celebrating the $80 Million Pizza Order
22 May 2019 is Bitcoin Pizza Day. The date marks the ninth anniversary of the first Bitcoin transaction in which a Florida man paid for two pizzas with the cryptocurrency. The day has become part of folklore, not because of the transaction, but more the price: the man in question paid 10,000 Bitcoins for the two pizzas which today is worth over $80 million.
On 22 May 2010, now known globally as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John’s pizzas. Organized on a bitcoin forum, the Florida man reached out for help. “I’ll pay 10,000 bitcoins for a couple of pizzas so I have some left over for the next day,” Hanyecz wrote.
A British man took up Hanyecz’s offer and bought the two pizzas for him in exchange for the 10,000 Bitcoins. Since the inception of Bitcoin, Hanyeczs’ pizzas have become more and more expensive. Nine months after the purchase Bitcoin reached parity with the US dollar making the two pizzas worth $10,000 and in 2015, the fifth anniversary of Bitcoin Pizza Day, the two pizzas were valued at $2.4 million. Today, the Bitcoin price is just over $8,000 making the pizzas worth $80 million.
About Scotcoin Pizza Day
To celebrate Bitcoin Pizza day Rockvilla.pizza will hold an international auction of the Scotcoin.pizza which will run from 6pm GMT on 15 May until midnight GMT on 22 May.
The prize will be a Scotcoin pizza which will be delivered to the winning bidder wherever he or she is in the world.
All proceeds will be donated to Bobath Scotland, a cerebral palsy charity based in Glasgow, Scotland.
Bids can be made at > https://www.ebay.co.uk/itm/283485769486
The winning bidder will not just receive his Scotcoin Pizza but also an amount of Scotcoin equal to their bid the amount of their winning bid subject to a maximum of 2 million Scotcoin currently worth around £10,000.
About Rockvilla Pizza
Rockvilla Pizza is a new pizzeria based in the Rockvilla area of Glasgow. Its neighbours include, Scottish Ballet, The Glue Factory, National Theatre Scotland, The Whisky Bond, GAMTA and Scottish Opera. It offers a fantastic choice of sourdough pizzas, all at affordable prices. It is also Scotland’s first cashless pizzeria using the latest technology to allow our customers a smooth and seamless ordering experience.
Email: [email protected]
Established in 2013, Scotcoin is one of the first and most successful country related crypto-currencies on the market to date. It achieved widespread adoption in 2014 and continues to grow with over 3,000 holders globally. Scotcoin currently utilizes the power of the Bitcoin blockchain. Scotcoin has its origins within Scotland and is extremely proud of this but it is not limited to Scotland. It is envisaged that Scotcoin will be used by many people across the world for transferring wealth, goods and services within its new fully decentralized self-sustaining economy.
Email: [email protected]
About Bobath Scotland
Bobath Scotland is based in Glasgow and provides specialist therapy to those living with cerebral palsy (CP) in Scotland. Founded in 1995, the charity has grown and developed, both in the services provided and the number of people it is able to see. It offers support to anyone with a diagnosis of CP, regardless of their age or location, and endeavours to reach as many people as possible at its centre, online, and in their own communities.
Email: [email protected]
Terms and Conditions
Please note you submit your bid on the condition that you have read and accepted all the terms and conditions below. In particular that no lot may be transferred by the winner to any other person (as a gift or otherwise) unless specifically agreed by Rockvilla Pizza (“Rockvilla”).
The starting price of the lot is £100. Please see full auction terms and conditions below before bidding. The auction closes at Midnight on 22 May 2019. All bids are binding. Rockvilla’s decision is final.
1. By bidding for any lot you agree to be bound by these terms and conditions.
2. The auction is open to anyone aged 18 or over. Delivery of the Scotcoin Pizza will be free to the winner. Rockvilla reserves the right to make use of any delivery method they deem to be suitable, of which they will be the sole judge.
3. When you place a bid you thereby enter a contractually binding and irrevocable obligation to complete the transaction if you are the winning bidder. The winning bidder is the person certified to be the highest bidder by Rockvilla at the end of the auction, and it includes any under-bidder who is awarded the lot following the failure for any reason of a higher bid as decreed by Rockvilla. If there are two or more bidders with equal claims to be the winning bidder, Rockvilla will select one by drawing names out of a hat.
4. The decision of Rockvilla as to the winning bid or otherwise, together with any exercise of its discretion hereunder, is final and cannot be challenged, nor will any explanation or reason be given.
5. You are not able to retract any bid under any circumstances after it has been submitted.
6. Before you place any bid you must ensure that you are able to bid for and to buy the lot in compliance with the law and in accordance with these and any specifically applicable terms and conditions. It is the responsibility of all bidders to ensure that, if theirs is the winning bid, they meet any qualification required to be the winner of the lot.
7. If you want to know what qualification is required for the winner of any lot you should email [email protected]. If you are the highest bidder, but in the sole and unfettered judgment of Rockvilla you do not meet any such qualification, then Rockvilla will be entitled without challenge or complaint to award the lot to the next highest bidder who does meet the qualification.
8. The auction will terminate as specified. No cash alternative will be offered. Rockvilla accepts no liability should the lot, for any reason whatsoever, not conform to the bidders expectation.
9. The name of winning bidder will be published on Rockvilla Facebook page, on the Bobath Scotland website and on The Scotcoin Project website. The winning bidder can request anonymity
10. The winning bidder will be sent an email setting out the details for claiming their lot which will include requirements relating to the due payment of the bid fee and other matters. Failure to comply with all such requirements shall entitle but not oblige Rockvilla to declare a bid void, and if so the lot affected will be awarded to the appropriate under-bidder. If the bid is NOT declared void then the winning bidder shall remain liable for payment of the bid fee.
11. It shall be the responsibility of the winning bidder to come to agreement in respect of delivery of the pizza. Rockvilla will accept no liability for non-delivery once agreement has been reached in this regard. All the aspects of the fulfilment of delivery are subject to such agreement being reached over all relevant matters which may include the date such lot is to be made available, and subject to all general and specific conditions which apply to the lot.
12. Employees of Rockvilla, and members of their immediate family / households, are not eligible to bid or to take the benefit of a bid.
13. To the extent permitted by law, Rockvilla does not accept any liability for any loss, damage, claim or costs howsoever arising from or incurred wholly or partly by participation in the auction or fulfilment of the lot.
14. The decision of Rockvilla shall be final and unchallengeable and they may in their absolute discretion declare any entry void. Any exercise of discretion, or agreement, by Rockvilla specified in these Terms and Conditions shall be in their sole and unfettered discretion, and no reasons can be requested or will be supplied and no correspondence will be entered into.
15. In relation to the lot, the winning bidder warrants that the material supplied to us will contain nothing defamatory or in breach of anyone’s rights and will indemnify Rockvilla for any breach of this warranty.
Date: Wed 8 May
Venue: Avalon, 25 Kent Road, Glasgow G3 7EH
Join us for an update on The Scotcoin Project and cryptocurrency in general. As the cryptocurrency market grows and matures, we see trends emerging showing the best ways of getting wide scale adoption and how blockchain technology is being used.
Chat to the development team, find out more about this emerging technology, newbies and experienced enthusiasts all welcome!
1. General introduction: I want to start by telling you all about the issues we had last year. Without going into too much detail as lawyers are involved and matters are sub judice, it became obvious in about May of 2018 that we were being led up the garden path and generally legged over. It took us a further 3 months to engage a new CTO who, once he had completed his review of what had happened concluded we had been sold a pup. The Initial historic review of what was being done– stripping back Hyperledger for Brooklyn – was shown not to work.
2. Engagement of world experts and academics in review process, including one of the writers of the Github protocol. We did a full gap analysis audit which detailed the shortfall in delivery. The advice we received was that the solution that had been suggested did not work and never would.
3. This led us on to Legal engagement, and we then intimated a claim for over £175,000.
4. Final concluding meeting to position the final piece of this jigsaw with a further systems expert has taken place and a final claim is in the process of being promulgated.
As a result we have vigorously defended our position. Even allowing for that, it took us nearly 8 months to disengage from our previous partnership and a lot of money. Over all we lost approaching £250,000. As a result this figure has been written off in our accounts. The contract we had was terminated and we are currently suing the previous company we were working with.
We have since that time worked extremely hard to enter a new partnership, taking on board all that had been learned, and making use of the latest Hyperledger updates. We are presently satisfied that we have the right partners and the right path to take this project to a good conclusion.
During the course of the next 6 months or so, Scotcoin will move to Version 3, on its new permissioned blockchain.
1. Hyperledger launched in 2015. In just three years, the organization has grown to over 260 members including Fortune 100 companies, like Accenture, SAP, Intel, and IBM; academia, startups, and other open source communities. An impressive number of companies are using Hyperledger (HL) in production systems. The Hyperledger Greenhouse is an ‘Open Source’ ecosystem flourishing with frameworks and tools for building business blockchains. So our requirement of Pulsant in the second half of 2018 was for Pulsant to support HL on the Pulsant Cloud, as a service to us.
The Tender process through second half of 2018 included IBM. Scotcoin has support at board level of Pulsant UK. Pulsant are specialists in cloud solution integration and trusted partners with Amazon Web Services, Microsoft Azure Cloud and the Google Cloud Platform . They are experts in the management of the modern cloud infrastructure.
2. The Contract to deliver Cloud Services with Pulsant and Hyperledger in the cloud was completed on new years eve 2018.
3. The discovery phase by Pulsant has already commenced.
4. In respect of the Potential timeline – It is anticipated that upon completion of the processes currently in train, Scotcoin Hyperledger service will go live – around mid 2019.
5. Consensus mechanism is standard Hyperledger Kafka process;
- Kafka guarantees that all messages inside a partition or a virtual machine are sequentially ordered.
6. During testing confirmation & ordering will be done between Pulsant and Scotcoin.
7. A sales process has already commenced to identify peers for Scotcoin in the first instance (e.g. IrishCoin) these peers will become part of Scotcoin confirmation and ordering process on the blockchain in the future, as we will contribute to their process.
8. Peers will in effect be entities with whom we do business and they may have several nodes, nodes are a technical computing term; peers are a business partner concept, Scotcoin will in effect have 2 nodes initially v3 & the Kafka ordering or consensus message security protocol.
- A blockchain network is comprised primarily of a set of peer nodes (or, simply, peers). Peers are a fundamental element of the network because they host ledgers and smart contracts.
- A peer is able to host more than one ledger, which is helpful because it allows for a flexible system design. The simplest configuration is for a peer to manage a single ledger, but it’s absolutely appropriate for a peer to host two or more ledgers when required.
- Nodes are the communication entities of the blockchain. A “node” is only a logical function in the sense that multiple nodes of different types can run on the same physical server. What counts is how nodes are grouped in “trust domains” and associated to logical entities that control them.
- There are three types of nodes:
1. Client or submitting-client: a client that submits an actual transaction-invocation to the endorsers, and broadcasts transaction-proposals to the ordering service.
2. Peer: a node that commits transactions and maintains the state and a copy of the ledger. Peers can have a special endorser role.
3. Ordering-service-node or orderer: a node running the communication service that implements a delivery guarantee, or total order broadcast.
It should be noted that each peer needs a channel on a one to one basis. Each channel however can support multiple nodes and this will enable us to move in time from centralised to decentralised validations.
9. Identity management for Scotcoin peers and clients will initially be following the Sovrin Foundation philosophy “decentralized self sovereign identity” (DSSI or SSI).
- “SSI: An identity model that allows an individual or organization to control their identities, or the identity of a thing, expressed through the use of decentralized identifiers and digital credentials.”
- In specific technology terms how we implement that SSI will be a decision made jointly with Pulsant but only once the Hyperledger application stack is functional in the cloud. We will optimize security at the infrastructure & the application level.
- Crucially Scotcoin V3 will in the first instance be a permissioned blockchain so not completely decentralized,. We will as soon as practicable and subject to utter security, move to trusted third party confirmations.
- At the beginning of the Blockchain, there was an idealistic idea that anyone with a laptop could become a node on the Blockchain network. A group of libertarian computer experts calling themselves cypherpunks had been developing non-state currencies over decades. But all efforts to establish them as an alternative means of payment failed. This is the concept of permissionless or decentralized blockchain networks.
- When we worked through the use cases in 2018, we realized that Hyperledger and the permissioned Blockchain was the only pragmatic way to get the job done with a necessary level of control and security. We are practical business technologists. In essence the partnerships with Hyperledger and Pulsant will support a general token solution for Scotcoin’s new coin.
- Scotcoin’s new blockchain will be permissioned, that means that everyone on it will be allowed to be on it – there cannot be random third parties, attaching to our platform. This allows us to comply with KYC & AML regulations since by definition we KYC!
We have had an update from our developers which I will share with you.Work is going quite intensively. At the moment we are finalizing the Wallet (frontend and backend) and already started working on Hyperledger Fabric:
- Hyperledger Composer assembly – done
- Asset chaincode programming – in progress
- Asset features and logic programming – in progress
- CA and permission level programing – in progress
- Transaction function and fee structure programming – in progress
- Hyperledger Explorer deployment – done
- Rest API programming – in progress
Currently the process is going as we have planned. The next milestone – Initial Testing stage starting 4th of March.
10. Algo for migration.
- V2 holders need to be kyc etc and that needs to be BEFORE the process starts for migration.
- Once they are clear, they need to advise in a form a) The wallet they hold SCOT in b) how many and c) whether they have a little bitcoin d) If not we send them a smidgeon to enable transaction to proceed.
- They need to create their own wallet with all the usual caveats.
- They need to confirm to us they have done this and what the address is.
- We then work out how many V3 they are due to receive and we so advise them.
- They have to confirm acceptance of that figure.
- We then have a white list of people who can get V3 and the numbers.
- We then advise them to send their entire V2 to a wallet we will designate.
- Once we have confirmed as received we send V3 to their wallet.
- V2 sent to us for migration will be “burned” and put beyond future use.
I should also say we intend that the final confirmations on this will be done manually. Those of you who remember MasterXchange will recall that they did ALL withdrawals manually. Although this meant it sometimes took a little time, it also meant there was never a hack nor a mistake.
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”
Information on Scotcoin is available @
From now until 31st January 2019, Scotcoin and Social Bite have joined forces to help the homeless to have a better end to their year.
There is no limit on what number of Scotcoin you can buy and Scotcoin will donate £5 for every £20 you buy.
So buy £100 worth and we will donate £25. And don’t forget the more Scotcoin you buy the better the value and effectively the cheaper they are.
Social Bite is on a mission to build a collaborative movement to end homelessness in Scotland. Using a pioneering social enterprise model, they enable people affected by homelessness to transform their own lives. They are building a movement to end homelessness by generating funds, awareness, and action across all sections of society; believing that a Scotland where everyone has a safe place to call home is possible.
With 6 cafes across the country, one restaurant (Vesta in Edinburgh), and a central production kitchen providing corporate food delivery service to over 200 organisations in three of Scotland’s largest cities. Around one-quarter of their staff have a background in homelessness, they believe that everyone has potential and deserves opportunities to reach this. For more information, visit their website (www.social-bite.co.uk).
The Scotcoin Project CIC (Community Interest Company)
Scotcoin began in 2013 and is now one of the longest-lived country crypto currencies. Scotcoin presently sits on the Counterparty Protocol which makes use of the Bitcoin blockchain. Scotcoin will be moving 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. Scotcoin has several thousand holders of coin and holders in more than 50 countries worldwide. On migration to their new blockchain, present holders will be rewarded for their support by receiving a 4-for-1 bonus, an effective increase in value of up to 5 times. Scotcoin intends 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.
Temple Melville of Scotcoin said: “ This is a really exciting initiative. One of our stated objectives is to help eradicate homelessness, and Social Bite is already well established within this area. We are delighted to be partnering with them, and sincerely hope we have to give them lots of money over the next few months!”
Andrew Baillie of Social Bite said: “We are thrilled to have the support of ScotCoin as we work to end of homelessness in Scotland. Their donation will help to fuel initiatives such as our Social Bite Village and Housing First programme”
Website: scotcoinproject.com Tel: 07494540764
Website: social-bite.co.uk Tel: 0131 220 8206
For the past 2 years, Scotcoin has performed KYC checks on all purchasers via the official exchange. We wholeheartedly welcome better regulation – and are leading the way!
Bitcoin and other digital currencies are a “Wild West industry” and need to be regulated to protect investors, a committee of MPs has urged. | BBC News
– 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.
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.”