Tag Archives: currency

Scotland post independence – what currency would, could, it use?

Sclyde20cotland will vote in September on whether to break from the rest of the UK. (RUK) The polls suggest they wont, but its all coming to a boil. A, possibly THE, major issue is the economy. Bill Clinton could have told Salmond that – it’s the economy stupid. At the heart of the debate seems not to be oil/gas but instead which currency a future independent Scotland, lets call it Alba, would use were it to return to the international stage.

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Bitcoin and “the denationalization of money”

Bitcoin is in the news again with the Winklevoss Twins testimonies and the indictment of some persons involved in a Bitcoin exchange.

There has been surprisingly little research on Bitcoin from academics. Partially this may reflect a disinterest, or a lack of knowledge of how it works, or a dismissive attitude towards it as ‘faddish’. That said, Bitcoin seems to be staying the course so far, and it would not be surprising to see more serious academic research emerging. It seems an ideal focus for monetary theorists. Here – Economics of Bitcoin – is one paper by Gerard Dwyer,  a very well respected economist (who also worked as a senior central banker).

It concludes very favourably for Bitcoin – “The design of Bitcoin and similar currencies does not have any inherent flaw