It's Time for McPESA!
Scotland could once again become the hub for financial innovation.
Dateline: Woking, 28th November 2022.
The Scottish Nationalist Party (SNP) have published a vision for an independent Scotland. Obviously, this is some way off because the legal wrangling about whether and when they might be able to hold a referendum on independence is far from resolved and even after such a plebiscite it would take years to actually happen, but… Well, an independent Scotland is on the cards.
The reason I think this is of interest to the fintech community is that the SNP have committed to a policy which means that on independence Scotland would continue to use the pound sterling for a period before moving on to having their own money. Not the euro, not Bitcoin, but a Scottish currency.
Forget about El Salvador or the Bahamas, if handled right this could make the Scotland the centre of financial innovation that it used to be!