Scotland may launch its independent cryptocurrency

1 August 2016

In its constant yearn for independence Scotland may launch its national cryptocurrency. Some reports say that this form of currency is a good-looking option because it eliminates any mediators in the transaction process and puts aside the corporations trying to create new cash. Meantime it raises some concerns over the cryptocurrency’s viability as it is not yet commonly accepted way of payment.

The reports also note that encouraging customers to rely on a new system of verification may be distressing decreasing the cost of the currency. Experts say that there are a lot of issues to be addressed on a long way to consumer confidence and viability of the digital money. Today the processing is tied to the operation of the miners who may do their processing job from several seconds to several hours.

On the other hand, experts believe that the cryptocurrency should not be discarded as a possible transaction method. The digital money does not feature more risks than other payment schemes nowadays. In view of the constant economic development people will not see a single currency system in Scotland.

This week Bitcoin value lowered to 620.96 US dollars, market capitalization remaining at the level of 9.86 billion US dollars.

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