Scotcoin Project CIC Update
Hiya folks, exciting news from the Scotcoin Project has prompted this Scotcoin Project CIC update. If you read my previous article entitled The Scotcoin Project CIC you will know that Scotcoin is my favourite crypto to date, which remains true – I now have in excess of 600,000 SCOT which has a current conservative value of about $9,000 – $10,000 it fluctuates in line with BTC and was as high as $18,000 when BTC was in the $10,000’s earlier in the year – I was very excited about that as you can imagine!
As I have become used with the highs and lows of crypto currency the decrease in value doesn’t worry me as much as it might have before I started on my crypto journey. Compared to what I paid for my Scotcoin, I am already winning and I WILL be a Scotcoin Millionaire before the year is out, I guarantee it! Meanwhile Temple and his colleagues are working hard to make sure that continues to mean something.
Catching up with their blog I was excited to read all the latest developments and I’d like to share them with you if you’ve not had a chance to update yourself directly from there. I also made my first podcast, eek! It’s a wee interview with Scotcoin’s Temple Melville with the virtual assistance of Caroline Wylie where we chat about the latest happenings at The Scotcoin Project CIC and I grill Temple about the new Scotcoin V3 which has just been released. Read on to find out all the goss!
Picking up from where I left off last year …..
Scotcoin Timeline 2020
January 2020 – Well I never! The first subject in Scotcoin’s January blog is ME! I’m flattered and honoured to be included in Scotcoin as History with a piece I wrote for an advert for Scotcoin which will be filmed next month by Bad Pony Media – PurpleLioness is going to be on the telly! Are you ready for your close up? There’s still time to sign up if you’re quick, pls comment below with your email and I will send you the details.
Also in January, in response to a claim that no one builds on Ethereum @adamscochran tweeted an epic list of 359 companies, start ups and Dapps that currently use or are building products on Ethereum including Nike, Barclays, McDonalds, Berkshire Hathaway to name but a very few and in support of this @cryptocanada sent the below picture:-
Exciting stuff! I’m going to be looking into other Altcoins/Tokens individually over the next few weeks starting with Ethereum as I have been asked questions that I have no answers to and with Scotcoin V3 moving to the Ethereum blockchain imminently it’s time I learned and as always PurpleLioness be sharing!
When I was researching this article I looked at my own wallet and wondered when I first joined Scotcoin, I thought it was in May but it wasn’t it was in January, so this month was my 1st Anniversary of being a Scotcoin holder! I wish I’d realised at the time, I would have had a mini party with myself, lol! At the time I didn’t know I would get so involved but The Scotcoin Project CIC is a fascinating example of what can be done with cryptocurrency and to be up close and personal with something I have a real life stake in is, for want of a better word, priceless.
Lastly in January, students from two universities (Glasgow and Strathclyde) Fin Tech societies have organised a Fin Tech pub quiz to be held on 12 Feb in Glasgow. It will be open to all students from both universities and sponsored by Scotcoin who will be awarding different amounts of SCOT to the top three winning teams. It is hoped that the quiz will pique the interest of a larger student audience and help spread the word about Fin Tech as it occupies a more pivotal and prevalent role outside the financial industry.
February 2020 – After the whirlwind that was last month, February started fairly quietly until news of Coronavirus hit and the economy was once again turned on it’s head. Money printers began whirring all over the globe and cryptocurrency is being highlighted by many as an alternative in the case of banks no longer honouring your card purchases.
Temple took offence to an article in BBC business news called ‘Blockchain the revolution that hasn’t quite happened’ that he found rather smug considering that Bitcoin itself is only 10 years old and it took about 28 years for Barclays (the example used) to put up their first digital bank website. As the only Blockchain expert in Scotland and author of ‘Blockchain, Bitcoin and What the Difference Means to You’ – Temple knows better than most that in financial terms 10 years is nothing and Blockchain is only just getting started.
Also in February and given extra fuel by the Coronavirus outbreak, contactless payments are at the forefront just now as the number of ATM’s available are being reduced. People are making fewer trips and withdrawing larger amounts preferring £50 notes to, for instance, £2 coins as evidenced by the lack of use of the latter and rise in use of the former. We are moving further towards a cashless society as more people understand that cash is a store of value, that the interest earned by keeping it in the bank is next to nothing – I rant about this slightly in a previous article about crypto wallets if you’re interested. Temple has previously argued, and I agree, that cryptocurrency is another asset class/store of value – this also seems to be filtering through to society as crypto becomes more widely used and discussed.
March 2020 – on 10 March 2020 The Cryptocurrency Act of 2020 was introduced in US Congress, aiming to clarify regulatory responsibilities.
Also in March, Scotcoin reported that Sunita Grote (Program Funding Manager for UNICEF) had given an interview about UNICEF embracing cryptocurrency and blockchain as a means, among other things, to get humanitarian aid to disaster areas faster and more efficiently. If you fancy a read it’s here but look at it later because there’s more……
Caroline went to an event, at a secondary school in someone’s stead at a place called Royston which has been described as one of the rougher parts of Glasgow. She was due to meet with and interview a group of students aged between late 15 and 17 years old. Assuming they would be mostly underachievers without much ambition, she was pleasantly surprised to find that each and everyone of them were polite, confident and in tune with their plans for the future. It ended up being a very ‘feel good’ experience for Caroline and her colleagues leaving them in no doubt that the future was in good hands.
Not long after this event the entire UK went into Lockdown, Scotcoin continued to function as normal as they were already set up to operate remotely. Tips for working from home for the first time were available in the March blog and it was pretty much business as usual. My Scotcoin still made it’s way to my wallet at the appropriate time and it continued to make me smile to see it there!
On 25th March I read a mini horror story on the Scotcoin blog which underlined for me, why crypto is important and why I’m trying to acquire as much of it as possible. It was an interview with Neel Kashkari (President of the Federal Reserve Bank of Minneapolis) and CBS’s 60 Minutes which can be summed up with the words ‘money machine go brrrr!’ which has become a rather chilling meme on social media. While governments globally set their money printing machines to stun, eventually there will be a day of reckoning when inflation will render fiat money worthless – I will be hodling crypto against that day, you should too. As ever Scotcoin have a solution prepared, double bubble Scotcoin when bought through the exchange* – nice one Scotcoin!
April 2020 – On 16 April, Temple did a podcast with Roger Edwards, Marketing and Finance, there’s a link available at the bottom of the page because I’d quite like you to listen to mine first, however, if you’d like to know more about Bitcoin, Blockchain or Scotcoin before hearing about Scotcoin V3 then look below.
Scotcoin is doing a project called Vintage Firsts as part of their Scotcoin in History that I mentioned at the beginning of this year’s timeline (go on scroll back up, we’ll wait, there’s always one!) They are a collection of people’s stories about the first time they experienced something and how they felt followed by their first experience of using a cryptocurrency wallet. It has been put on hold because of social distancing measures so there is still time to enter. The best one received by the end of May wins 25,000 Scotcoin. How’s that for a prize! Get your game face on, take a trip down memory lane and you could be 25,000 SCOT better off by June – I’m in, wbu?
May 2020 – May kicked off with another competition -this one is for 5000 SCOT. Find the Scotcoin banner on a building which can be seen from a well travelled road (that’s a clue btw) enter via email@example.com to include your full name, your wallet address and where the banner is or a pic of you standing under it to claim your prize. End date is the first correct entry or 31st May, if the prize goes unclaimed it will be donated to charity. Give it a go, if you recognise the building or you’ve seen the banner on your travels – I’m taking an educated guess that the building is in Scotland – go ahead and enter, you could be 5000 SCOT better off for the price of a selfie and an email.
So that’s you all up to date, hope you enjoy my podcast with Temple, if you do please like and subscribe for more. As ever if you have any questions or experiences you’d like to share please comment below, I’d love to hear from you, stay safe.
PurpleLioness’ Podcast Transcript
Asking for a friend! – 10 Burning Questions I Have To Ask:-
Question 1 – In June 2016 in a blog about cryptocurrency and taxation you said that then Britain was considered the best jurisdiction to trade in digital currencies but that may change after Brexit. Has it?
Question 2 – What has been the biggest impact of COVID-19 on Scotcoin specifically and crypto as a whole in your opinion?
Question 3 – Has Lockdown piqued interest in cryptocurrency as a viable means of payment not just for goods and services but for wages and salaries?
Question 4 – Are you ready for that?
Question 5 – What about Scotcoin V3?
Question 5a – How does it work?
Question 5b – What’s an ERC20 token?
Question 5c – Can you buy stuff with it?
Question 5d – Where already accepts it? Anyone new since last year?
Question 5e – When will I be able to use it on Amazon for instance?
Question 5f – I’m a holder of the current version of Scotcoin, do I need to do anything myself to change to V3?
Question 5g – Will we need ETH instead of BTC for transactions now?
Question 6 – How easy is it to set up a business that accepts Scotcoin?
Question 7 – I notice that you offer marketing support to businesses accepting Scotcoin, what form does that take?
Question 8 – I am opening an online store (at Token Markets ) soon which will accept Scotcoin as well as other crypto, what support might I be able to get with this from Scotcoin besides marketing? Will the set up be different for accepting V3?
Question 9 – Should we be paying more attention to blockchain?
Question 10 – What next for Scotcoin?
*At the time of writing, I’m not sure if this offer is still in place, I will check with Temple and his answer will be in the comments, pls take a look.