Scotland is in the mood to "leave the UK" and may launch a new monetary system after independence, including mainstream cryptocurrencies and local digital currency Scotcoin

Since Brexit, the Scottish people have begun to explore different currency options. Scotland has called for a "Brexit" referendum many times in the past. The recent Brexit event has further aroused the Scottish people's sentiment to leave the UK.

The Common Weal, a non-profit organization in Scotland, recently released a report that if Scotland successfully leaves the UK, local people will have nine currencies to choose from. The author of the report is Dr. Craig Dalzell, a scientist who believes that although the Scottish legal currency (currently the pound, a new legal currency may be created after leaving the UK) is conducive to stabilizing the national economy, a variety of currency options are also good for Scotland's independence.

The adoption of the Scottish currency (£Scot) after independence will help increase Scotland's political influence. This currency was initially pegged to the British pound, but as the choice of currency diversifies, we can choose to reduce or completely shift this link.

This report is intended to reassure the public that the availability of a variety of currencies is important to the voting results.

In 2014, Scotland held a referendum on leaving the UK. The Scottish government at the time proposed the establishment of a monetary union, that is, Scotland continued to use the pound while retaining a seat in the Bank of England. Such an arrangement is beneficial to Scotland's short-term development, but now that the UK has left the EU, if Scotland still maintains the plan at the time, its economy will definitely be dragged down. Therefore, The Common Weal took this opportunity to provide new currency options, including cryptocurrencies. The report suggests that after independence, Scotland can use existing mainstream cryptocurrencies (such as Bitcoin) or local cryptocurrency Scotcoin.

The report also lists some of Scotcoin's disadvantages. The main disadvantages are trust issues and acceptance issues . The digital currency field is still in its early stages of development, so people may not trust cryptocurrencies as much as traditional fiat currencies. People may also be reluctant to trade digital currencies in traditional ways.

The choice of currency depends on geopolitics and trade decisions. I believe Scotland will eventually choose a currency that is beneficial to its development.