Can Crypto Solve Real World Problems? Ethical Disruption and the Scotcoin Revolution with Temple Melville | S2 Ep. 174

0:05Welcome back everyone to another episode of founder story today we have Temple Melville who is a blockchain and crypto lecturer which I'm very excited because temple crypto crypto has been like the buzz I just came to the buzzer Coinbase and hear what he had to say. And it was very interesting. So I'm excited because you are the CEO of Scott Coin Project CIC. And I want to dive in first to understand what is this project and why are you involved? Hi, Daniel. Well, it's nice to talk to you today. And thank you very much for that. The reason I'm involved is I got involved originally because I knew a bit about the blockchain.

0:59And that was because I studied mathematics at university a very long time ago, as you can tell, I'm a very old person. And when Satoshi Nakamoto came up with the white paper that he produced, a peer-to-peer cashless system, I actually understood a bit about what it was about. And I realized that blockchain was, and Bitcoin, which was the result of that, was something special and different and new and potentially world-changing. And I always like to tell this story because it shows what a putz I am. I actually bought Bitcoin originally when it was about$50. And it got to$500. And I knew, absolutely knew, it would never go any higher.

1:51And I sold them. and I've done that a few times since so there you go however anyway back to Scott coin Scott coin started officially in 2013 it was on a its own blockchain which had a lot of problems in fact and the person who started it all decided to get out in 2015 late 2015 early 2016 and myself and my partners bought it out at that point and we've been working since then to a give it a purpose obviously and b to make the token valuable and worthwhile and everything else you can think of so that's really it that's been our journey if you like to make it all work and we are as you know just sort of fast approaching our listing and we're looking forward to that very much it will help us enormously in our mission i'd like to understand but you don't have to answer this question how many bitcoins do you have when they were 50 what i've noticed with crypto is that it's very very inclusive wanting and it's very community driven and i don't think there's any other financial product or anything in finance that i've seen in my time that really is geared towards this ethos or uh you know having this mentality or mindset and it's it's really like a become a culture which i find very fascinating i think the point about about crypto and the community is is an interesting one because uh the whole reason for the blockchain and bitcoin and other tokens is there is nobody between you and the person you're dealing with.

3:41Everywhere else, everywhere else in the world, there is somebody who's a middleman. You know, if it's Visa, if it's MasterCard, if it's your bank, if it's whatever it might be. The point is there is no community. It's just a straightforward transaction with somebody who is taking some of your money for one reason or another. But Bitcoin and blockchain and and other crypto is quite different it's all kind of as you say community driven and that's a great thing what do you say to people who are maybe over the age of 40 50 i think there's a lot of older people who are very interested in it i think they might be scared they might not really understand it i mean i think we can be real that it's it's not like the easiest thing to understand when you try to know everything about blockchain and everything, right?

4:33What do you say to those people who are hesitant, but I'm sure Scott, you know, Scott coin project and other projects can be really beneficial for them? Yeah, well, I think the first thing to say is, you know, I have no idea how a phone works. But I can make a phone call, you know, no problem. And the same thing really applies with crypto you don't necessarily need to know everything about it it's good to know a little bit of course and once you have that it's very very simple we have our own Scott scan app which is if you like the the best way for many people to get involved because it hasn't got lots of smart horrible numbers like zero X five five seven seven seven four three two one it's got your name so you could be Daniel at Scott I'm Tumelko at Scott you know so it's very easy to actually transfer backwards and forwards and there's no cost it's free and it's instantaneous so that makes a that makes a big difference it's a big draw for quite a lot of people and I think the other thing too is that people realize that you know if you go back to the Victorian era lots of people did a great deal of work with charity and helping people which was very much needed, of course.

5:50And we're in the same position today. There's lots of work that needs to be done for lots of people. So what is blockchain? So I'll tell you. So I'm indebted to somebody who is much smarter than me who said this. But basically, he said, you know, you're a man and a woman, and you tell the woman you love her. And, you know, a couple of weeks later, you decide you don't anymore. So you just say, no, I don't love you anymore. And that's it. then the next time you meet up somebody you quite like you've got a friend with you and you say to the woman oh i love you and he sees that you said i love you and so on so if you want to tell the woman i don't love you anymore you've got to persuade the friend who didn't see that happening now if you're involved in blockchain you're with a woman again in a room with hundreds and hundreds of people who all see you saying i love you and that's blockchain because it's very difficult to then change the name the minds of all those people that they didn't see you say it and of course that's what blockchain does it makes it sure and it's a great thing i've never heard that analogy before but i i really like how you said that and i mean who doesn't like the transparency of blockchain and you know all all the things that we can maybe fix or solve that have been something issues in the past like sending and receiving money with no you know middleman so when it comes the ethics in crypto i find this a really interesting topic and i was just hearing uh some people chatting about this at a really high level and i thought it was very fascinating so i'd love to get your opinion like what is ethical crypto or how do you define it well our our view on why we call ourselves an ethical crypto is we what we try to do is try to do good and i know various companies have said that in the past but uh in a sense we've got a slightly easier job because what we are trying to do is to help people who are in need.

7:46So in the very simplest thing, we work mostly with clothes, food and accommodation. Now, I'll give you an example of how we work with clothes. As you know, clothing manufacturers are forever burning clothes and throwing them away and doing all sorts of things, which are not good for the planet or for anything else, frankly. and we go along and we talk to them and we do this on a regular basis and say okay what are you trying to get rid of what are you going to have to burn next week or whatever it is and we then buy those clothes from them using scot coin now we then deliver those clothes to a charity that works with homeless and they deliver them to people who really need something to wear and what's in it for the people who make the clothes well the answer is the first point is they don't have to pay for burning the clothes and that's a big plus point for a start and it's got all sorts of good things that happen means you're not ruining the planet as well but the other thing is that they tend and not all of them but they tend to then use scotcoin within a closed community loop as far as they're concerned and this comes back to what you were saying about community so if you think of the 10th cup of coffee that's free uh the the people with the clothes what they do is you buy a t-shirt you get a hundred scot coin you buy another t-shirt you get another hundred scot coin and you build it up and when you've got whatever it might be a thousand scot coin you get a free t-shirt and that's a really nice closed loop that works very well and it's non it's it's non what's what i'm trying to think of it's a closed loop which works very well for everyone so that's really what being ethical means it means doing something good for other people Thank you, Temple, for sharing that.

9:36And I think we're going to start to see a lot more people with this. I love the ethical crypto, how you can use it to help the planet, help people solve problems among humanity is incredible. I, you know, who I'm wondering if back, you know, back Satoshi, did he or he, she, they, did they know that, you know, this would be how it would be used someday? When you're lecturing about crypto, what is the sentiment among, you know, multiple different generations or even just Scott coin in general? Like, what's the sentiment that you're seeing so far among different generations? Well, it's very interesting you saying that.

10:21I mean, I've been doing this for quite a few years now. And I used to start my lectures by saying, everybody put their hand up who's heard of Bitcoin, and most people did. And then I would say how many people have heard of blockchain. And only about half that number of people did. They had no idea where it came from. And that was quite good, because it gave me a good opening to start and talk about blockchain. but the point is now uh i say i don't start with that because everybody knows what it's about i say how who here owns crypto and generally about half the half the people who are at the lectures put their hands up and say yes they do and they the other interesting thing about that is they own them for such diverse reasons uh and you know it's not all about just making money it's about other things and of course the great thing about crypto is or two of the great things about crypto is one is it's you know once you send it it's that's it you can't get it back or you can only get it back if the other person sends it back but also you can target it so for example and we've we've done this quite recently actually we were doing a well in Nigeria and the we didn't want we didn't want anybody to uh you know to take some money out of it or anything like that and we used crypto to send it direct to the people who were digging the well or drilling the well uh and that's a you know that's a huge step forward it really is uh and the other thing too is it gets there instantly and if you're trying to send money to nigeria it can take weeks uh you know but if we do it with a crypto it's there bang you know no problem at all so that's how that's how we go along with things and people people do appreciate that they appreciate the difference between what's called trad fi in other words fiat currencies and crypto and that's something that a lot of people appreciate it's super fascinating i mean the ability to like you said cross-border sending payments is something i've used and you know it doesn't have to be like oh it's a saturday it won't send or a sunday it needs to wait till monday you know all the all the rules that I find to be a little bit ridiculous in 2025.

12:39Don't have to do any of that. Exactly. Can you speak on the tokenomics of ScottCoin? Yeah, sure. Well, we started out, we've been on a particular journey which has encompassed various different tokens, all called ScottCoin, for a variety of reasons. And the one that we're on at the moment is an ERC 20 token, which is much better than being on, you know, the Bitcoin blockchain, which is very expensive in terms of energy and all the rest of it. We're on the Ethereum network, and that's great. Our current token that we're just about to launch onto the exchange is very tightly controlled. The object of the exercise is not to have people trying to sell it, willy-nilly and crushing the price.

13:32We have a business plan which is in place that needs funded and we need to have our tokens available to us for a long period of time and we estimate that we'll have them available for more than 100 years. So that means we'll still, I mean, I'll be dead long before that, obviously, but it does mean that there will be people still handling and helping people long after we're all gone. and I really like that. In terms of vesting, we're going to be vesting over a period of... When you realize you need to hire, it's usually already too late. I've been there wasting weeks waiting for decent candidates.

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15:41This has been great and and I really I enjoy you know how this is like a legacy you know I can tell this is you know the mission is bigger than just yourself it's not just about making money and the ability to help people and i'm just so fascinated with how blockchain crypto all these things can better our lives and the lives of the people around us and everything you're doing scott coin project cse sounds amazing if people want to get in touch with you they want to find out more information they want to be a part of this so they can carry it on for the next 80 years how can they do so I always like to get out there.

16:18We as the people who operate ScottCoin and so on and the ScottCoin project, we've never taken any pay. We've never taken director's fees. We've never taken expenses. It's entirely self-funded. And from that point of view, we're very much pleased with how it's worked and how it's gone. and we just, you know, we appreciate very much that we can make things work. Amazing, Temple. Thank you so much for the want and desire to make a better place even when you're gone and thank you for joining us today on Founder's Story. It's been a pleasure, Daniel. Thank you.