Bitcoin Brief

A summary of the Scotpound proposal, and why bitcoin adoption is the smarter option for Scotland's future. The New Economics Foundation and Common Weal have just released a proposal to create a new digital currency for Scotland - the Scotpound. Having read the 64 page document and attended the launch event with one of the authors, I’d like to summarise the content for you: Firstly, there’s some fantastic information on the current UK monetary system in there, and it echoes a lot of the information previously circulated by positive money, which is a group which proposes a similar solution for the UK as a whole. What is the Scotpound? It’s a digital currency, not unlike the pounds you have in your bank account right now. The difference being, it would be controlled by Banca Alba, instead of private banks, and it would be digital only without and paper cash equivalent. The proposal is to spend 3.71 million pounds of tax revenue setting up a payment network, central authority, and cross-platform apps; then