[2015-09-18] ScotPound to Become Scotland’s Answer to Bitcoin?

[jdebunt]

http://digitalmoneytimes.com/crypto-news/scotpound-become-scotlands-answer-bitcoin/

Various countries around the world are looking at ways to give Bitcoin and other virtual currencies a properly defined regulatory framework.  While these talks and decisions will not materialise in the next few months, Scotland could be one of the first countries to create their own virtual currency.  At least, that is what UK think-tank New Economics Foundation is proposing.

[odolvlobo]

The "scotpound" has nothing to do with Bitcoin. I would simply be another fiat currency. The difference between it and the currencies of other countries would be that no paper money would be issued -- a trivial difference in theory, but a fatal flaw in reality.

[Kprawn]

This is the main difference --> " That is not the only major difference between ScotPound and Bitcoin though, as Scotland’s digital currency-to-be would be issued by BancaAlba, a public body.  It goes without saying that BancaAlba could very well be able to fully control the supply of ScotPound being released in circulation, which is exactly the opposite of what Bitcoin and other virtual currencies are trying to achieve. "

This is not a Bitcoin clone, just a digital copy of a Fiat currency. 

[gentlemand]

Like every country's proposal and every single bank or corporate proposal, it's a token redeemable for fiat and nothing else.

An awful lot of people on here instantly scream 'bitcoin killer' when these things pop up. They're all the same and all fundamentally different compared to BTC.