Will Scotland create its own digital currency?

     Scotland is being urged to create its own digital currency, called ScotPound, which will work in the same way as Bitcoin. A Scottish citizen said everyone will receive about £250 to promote it, encouraging everyone to join the UK's latest digital financial trend.

     Scotland's economy is growing slowly, and the NEF believes that the new currency may increase spending power among citizens and is also a positive way to prevent Scotland's national debt from increasing. As the name ScotPound suggests, this currency can only be used in Scotland. Therefore, although it is a digital currency, this currency will still be strictly limited to the borders of Scotland.

Economic researcher Duncan McCann explained to the BBC:

     “Last year’s independence referendum has been all about debate over Scotland’s relationship with the UK. But the fact is that even with devolution, the Scottish government has the ability to change the monetary system. Scotland is in a unique position to take advantage of the current trend of digital financial innovation. New currencies and payment systems such as ScotPound will work alongside the pound and support small and medium-sized businesses.”