Would an Independent Scotland Embrace Bitcoin?

If Scotland becomes an independent country, Bitcoin might have a role to play as a currency or currency reserve. Scotland has a rich history of a banking system, and it would be interesting how the nation would handle its central banking and financial system if it gains independence from the UK. Scotland would be forced to use its own currency and not rely on the British Pound.
It is an experiment a lot of economists are watching with keen interests, considering the creation of a new country and a new financial and central banking system, almost from scratch.
The Role of Bitcoin
There is no official word on this matter, but economists believe Bitcoin might have a role to play in this new economic system that Scotland will adopt.
Guy Debelle, the assistant governor of Australia’s central bank went as far as suggesting that Scotland might actually use cryptocurrencies instead of a national currency and it would be a worthwhile experiment. Speaking at the Financial Times’s Camp Alphaville conference in London, Debelle argued

This post was published at Coin Setter on 2 Sep 2014.