Glasgow entrepreneur backs Scotcoin digital currency project


Name: Temple Melville.

Age: 73 years old.

What is your company called?

The Scotcoin CIC (Community Interest Corporation) project.

Where is he based?


What does it produce, what services does it offer?

It is Scotland’s own cryptocurrency and offers freedom for Scotcoin holders to transact peer-to-peer for goods and services with no transaction fees. In a broader sense, we have a platform for charity through The Scotcoin Project CIC, which is funded by Scotcoin. It is the vehicle we use to deliver positive change and value.

Who is it sold to?

Anyone can use it. Scotcoin is currently working with different charities and platforms to create a network of organizations that will trade locally in Scotcoin and, in turn, support the mission of the project. It will also be available for purchase on an exchange later this year and available to anyone who wants to be part of the Scotcoin project.

What is its turnover?

We don’t actually sell Scotcoin, so revenue is irrelevant until we complete our listing. After that, Scotcoin will become a purchasable currency on an exchange. However, in the last six months alone we have allocated £85,000 in aid to individuals and organizations using Scotcoin.

How many employees?


When was it formed?

Originally in 2013, but the current management team has only been in place since 2016. It has undergone several transformations, the most recent in the past 18 months, and we are firmly on track to deliver on our vision.

Why did you take the leap?

I initially got involved with Scotcoin in 2014. In early 2016, the original creator Derek Nisbet decided to move on. I saw so much potential in Scotcoin and loved the idea of ​​Scotland having its own currency to effect positive change. Accordingly, together with David Low, my business partner, I have decided to purchase the intellectual property, trademarks and all available coins and shares of Scotcoin to reposition it as an ethical cryptocurrency with a social and charitable agenda. solid. There’s so much Scots can do if they put their mind to it – it’s a wonderful thing to contemplate a better Scotland and the role Scotcoin can play.

What were you doing before taking the leap?

Many years ago I was at Glasgow Wholesale Fruit Market and more recently I was involved in property investing. I have come to believe that property is in many ways a sterile and inherently unexciting investment. Crypto gives us the chance to do so many things and actively improve people’s lives. Having studied math in college, I almost instantly realized the possibilities of Satoshi Nakamoto’s peer-to-peer white paper, which eventually became the basis of Bitcoin.

How did you raise the start-up funds?

Family, friends and two business partners.

What was your biggest break?

When the Ethereum network developed ERC20 tokens, we realized that we could use them to reduce the amount of energy used in the production of Scocoins by up to 99.95%.

What do you enjoy most about running the business?

Giving talks and educating people about Blockchain and cryptocurrencies in general, as well as getting businesses to accept Scotcoin for their goods and services. Our overall vision is to have a comprehensive network of businesses using Scotcoin on a daily basis, which will help fuel the Scotcoin charity program.

What are your ambitions for the company?

There is a cryptocurrency in Switzerland called “WIR” which has been around since the 1930s. It now has a turnover of over $6 billion which is a substantial addition to the Swiss GDP. From our perspective, we would like to do even a fraction of that to help people in Scotland.

What are your five priorities?

Scotchcoin exchange list.

Increase blockchain and crypto education.

Creation of a full-time board of directors.

Increase the number of Scotcoin holders.

Increase the number of outlets that will accept Scotcoin for their goods and services.

What is the most useful thing?

Large corporations in our target areas – food, apparel, accommodation – accept Scotcoin for their excess stock and then use the SCOT they acquire in their own ecosystem.

What could the governments of Westminster and/or Scotland do to help?

The best thing to do would be to allow acceptance of cryptography in general for services and for their own internal purposes. Even at a very low level, this would have a huge effect on mainstream acceptance.

What is the most valuable lesson you have learned?

Good things come from unexpected places. But above all, if you want to do something, do it! You only regret what you didn’t do.

How do you relax?

I play online chess a lot and love to walk – I try to do at least five miles a day.

I also love to cook. Food is something that brings people together in all sorts of ways. If there was a way to reduce the hundreds of thousands of tonnes of food and drink wasted each year in Scotland alone, consumer finances would be instantly improved and the planet would be better off too.


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