Will a National Cryptocurrency be Scotland’s Solution to a Life After the Pound?

  • Scotland will need a national currency to have control of its monetary policy he told the Financial Times .
  • Given that Britain is now in the process of leaving the EU, Scotland’s political leaders now believe that a second Scottish independence referendum is necessary to decide whether Scotland wants to remain part of Britain and leave the EU or whether it should go Britain and remain part of the EU.
  • While in the 2014 Scottish independence referendum, the Scottish people voted to remain part of Great Britain the situation has now changed.
  • Whether Scotland will become independent from Britain or not is an unknown.
  • Low recognizes that digital currencies will most likely play a role in the future global financial system and views Scotcoin as a viable alternative currency solution to the Pound should Scotland achieve independence from Britain.

Many view Scotcoin as a viable alternative currency solution to the Pound if Scotland gains independence from the UK.
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The Death of Sovereign Fiat in Zimbabwe

  • Not surprisingly Zimbabwe also has a small but growing bitcoin community who see the value in an international decentralized digital currency.
  • Due to a lack of food to feed the nation, a reduction in foreign investment, a deterioration in international trade relationships, and international sanctions Zimbabwe fell into a deep economic depression and its currency suffered hyperinflation.
  • In 2015, the Reserve Bank of Zimbabwe officially discarded the Zimbabwean dollar and exchanged all cash holding on bank accounts into US dollars, with one US dollar being worth 35 quadrillion Zimbabwean dollars .
  • The Reserve Bank of Zimbabwe (RBZ) started issuing ‘bond notes’ on November 28, which have an official value pegged 1-to-1 with the US dollar.
  • The government announced that the new “currency” will be launched partly because there are not enough US dollar notes circulating in the country.

Economist Philip Haslam believes Bitcoin is the answer to Zimbabwe’s ongoing currency crisis as the government announces ‘bond notes’ as tender.
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