WHILST we all absorb the pledges and promises emanating from COP26, with its virtue-signalling and hopeful aspirations uppermost in our minds, it is thrilling to know that we have our own innovative answer to some of society’s challenges here in Scotland – a modern, accessible digital currency that seeks to benefit the individual, rather than the big banks and other financial institutions.

Crypto – or more accurately digital currencies – have made headlines around the world, and despite their bumpy start, are here to stay. Vested interests who maintain the status quo may seek to detract from the main benefits of crypto, as it removes much of the iniquities that exist with existing central bank controlled (fiat) currencies. The complementary use of cryptocurrency can help to keep more value in the hands of the individuals.

READ MORE: We're giving away 1000 Scotcoin to EVERY National subscriber

It limits or removes “value extraction” from transactions and society by using the various crypto financial systems and novel services that exist on the blockchain. Crypto/digital currencies are doing this and more, and steadily driving down the cost of transactions. More importantly, digital currencies are now addressing environmental concerns to make the commercial world use less energy and reduce waste. Enter Scotcoin (helpfully designated “SCOT” in the digital currency world)!

Things are moving fast – both with crypto uptake and innovations, but also with Scotcoin on the ground. This coin is managed by a Community Interest Company, and its ambitions and intent are wholly altruistic and focused on bringing value to the individual-in-need, to empower them and others to create and enjoy an environment and “ecosystem” where projects can thrive that otherwise may stall.

Real people are rewarded and individual lives improved by the injection of coin into social enterprises, charities or other for-purpose organisations. Scotcoin can be used by the individual to purchase goods and services from SCOT-accepting and enabled “retail” providers and other organisations. No bank account is needed for this.

There is also growing excitement amongst third-sector organisations as they can see using SCOT for purchasing and selling within their sector too, thereby encouraging greater cross-sector co-operation and value exchange.

READ MORE: Scottish Design Exchange is preparing for Scotcoin

Scotcoin is very much a project and currency whose success is from the ground-up; for every person that has a SCOT wallet, for every third-sector or SME organisation that accepts and uses SCOT, every one of us that uses it helps the local community and national society in Scotland to benefit directly. We have a superb internationally acclaimed brand in our country name of Scotland, a suitably named Scotcoin that matches and aligns with the “brand” values of trust, human values, a desire for equality, and to help our fellow humans whatever their circumstance.

Whilst we look forward with hope after COP26, we can make a real difference here at home by wholly embracing a vital new, innovative and potent way to help Scotland create and maintain value at the local level, and to help those that need it most.

Be part of the change you wish to see; open up a Scotwallet account at scotwallet.com and join in today.

If you’re a third-sector organisation looking to apply for SCOT funding, you can send over an email to davidhood@scotcoinproject.com.

Anyone who signs up for a National subscription before 11.59pm on November 17 will be eligible for 1000 Scotcoin and, as with existing subscribers, will receive an email with details on claiming that. Anyone with issues should email stewart.ward@thenational.scot