Ethical finance extending the reach

The Scottish Government become signatory (21/22nd September) to UN Principles of Responsible Banking joining a third of the global banking system ($47 trillion worth of assets) 

It is impressive that the United Nations has secured so many signatories to the Principles of Ethical Banking.

 My plea is that Scotland provides a special “Scottish” addendum and extends the principle of ethical finance to include positive action for the unbanked, near prime financial and credit excluded population in Scotland 

In October Global Ethical Finance Initiative acted as pacesetter bringing together UN Multi-faith global power roundtable and a conference dedicated to ethical finance with a global reach. 

It is encouraging to see leadership from the Church of England and Islamic Bank collaborating to spread and scale faith centred ethical standards in banking    Scotland has a long been recognised as a champion of ethical finance. Gremlin Bank (bank for the poor) founded by Mohamed Yunis, more recently Castle Bank Co-operative in Edinburgh support for low-income families and MoneyMatiX community approach to teaching children and families to manage money (and debt) are just a few examples

It is against a backdrop of a long historical tradition in democratic banking serving the poor and rich alike that the vision emerged of a Scottish Investment bank.  The vision is nearing reality as the Scottish Investment Bank bill proceeds through parliamentary processes.  Central to the bill is a remit to include equality impact assessment ”“ focusing on ethical investment for inclusive growth.  Linking the establishment of the Bank to the Equalities Act (2010) is inspired.  Ensuring the needs of people who share one or more of the protected characteristics are met is exactly what is needed to provide inclusive growth. 

I would ask that we open the debate under the auspices of  Fintech Scotland to extend the provision of the Scottish Investment Bank to include fintech mobile innovation as a means of extending the reach to those who are unbanked or “near prime” (not able to access credit due to minor infringement of credit ratings)

I travel with hope in my heart that Scotland will be the first country to aim for zero unbanked.  Adopting SDG’s as key drivers of Scottish policy and acknowledging that wellness sits at the heart of an economically vibrant country is pretty good stuff.    

 As Founder/CEO of Women’s Coin (digital currency of social value) I believe that adoption of ethical financing at Corporate and SME level extending the remit to include digital innovation, tokenisation,  and local currencies will accelerate the spread and scale of adoption of SDG’s (UN Strategic Development Goals).  

There has never been a more critical time for ethical financing and ethical leadership across all sectors Public, Voluntary, Charitable, Corporates and SME’s 

Scotland can really set the pace, the vision and has the know how to create an inclusive society that fosters wellness as the key to economic vitality


Blog written by (Prof) Christine Bamford, Founder/CEO of Women’s Coin

#MorePowertoher  #fintechscotland @finance4change @modulr

womenscoin.com

 voluntier.co.uk

 globalethicalfinance.org

Will the growth in fintech innovation be the solution to tackling one of society’s big issues? Financial exclusion

Homeless, no address, unemployed and no bank account ”“ the future is bleak

 2 Million without a bank account. Between 10-14 million “near prime” adults have no access to credit, despite minor blemishes on credit history or can only access credit at high APR 29.9-39.9%

There is an urgent need to open access to financial services for those without an identity and are homeless. or on low-pay income. It isn’t just the homeless but families managing on low incomes where one bill too many pushes them into debt crisis ”¦.  into the hands of loan sharks or high APR pay day loans and a continuing spiral of debt.  If wellness sits at the heart of Scottish Government policies and values ”“ then we need to recognise the impact of debt, low income, lack of access to credit and insurance as key impact measures on mental wellbeing

 Fintech Scotland range of innovative solutions, mobile payment systems, education, blockchain, crypto-currencies, wallets, tokenisation of voluntary work open the opportunity to create an equal and more inclusive society.  Mobile friendly approach to Identity secured through biometrics, face recognition, top up payment cards/mobile payments are now able to provide evidence of credit worthiness.  This is a modern pathway to a bank account, credit worthiness, access to insurance, credit and a verifiable credit rating.   

March 2018 The Mexican Congress approved Fintech Law that aimed to regulate electronic payments, crypto currencies, crowdfunding and open banking.  The fintech Law promotes innovation in the financial services industry, stimulates the growth of new business models and reduces entry barriers for Fintech firms.  Fintech Law can significantly improve Financial inclusion. Fintech Scotland has taken a non-regulatory approach to supporting financial technology innovation. But the impact possibilities are with us now to work with traditional financial service to provide a integrated solution to financial exclusion.   Scotland is on the brink of providing a “world-class” solution to inclusive growth through financial digital solutions creating the link between wellness and economic vitality

Blog written by (Prof) Christine Bamford, Founder/CEO Women’s Coin 

Acknowledgement to PWC blog and report 

www.womenscoin.com #MorePowertoHer  @ChrisBamford12

Women’s Coin to launch during Scotland’s Fintech Festival

Blog by (Prof) Christine Bamford Founder and CEO Women’s Coin    

Exciting news Women’s Coin is now trading!

Women’s Coin digital currency to launch in September at Edinburgh Fintech Festival and internationally at the United Nations, New York Decade of Womenon 18thSeptember

Women’s Coin operates via Bitcoin blockchain platform, using the Counterparty protocol.  Blockchain is the power behind behind digital currency enabling storage of digital assets and smart contracts.  Women’s Coin is Money Laundering compliant, KYC (know your customer) and ensures total transparency in  its financial conduct.  In partnership with Zortrex data security company – Women’s Coin intends to secure investments through military grade data security.  

Women’s Coin is not just a digital currency it is a coin of value ”“ transferring profits from the currency into humanitarian support.  The profit for purpose ethos sets out  to build a better world  through micro-financing women owned sustainable businesses.    Women’s Coin supports United Nations’ Sustainable Development Goal 5 ”“ Gender equality

Women’s Coin is not just for women ”“ men are also critical to the movement (He for She)

Together we can use the power of the wallet to deliver social change

If you want to learn more about Women’s Coin’s amazing vision and product, (Prof) Christine Bamford is speaking at:

  • International Cyber Security Summit – 4thSeptember Edinburgh Napier University
  • United Nations, New York ”“ Decade of Women – 18thSeptember
  • Meeting of Coin Networking Event ”“ Virgin Money Lounge – 25thSeptember
  • Fintech Summit ”“ DIGIT – 26thSeptember

womenscoin.com
@womenscoin#MorePowerToHer #Fintechscotland @KateForbes

A Meeting of Coins!

Blog by (Prof) Christine Bamford Founder Women’s Coin    


For readers who didn’t know ”¦

Scotland is the first country in the UK (possibly Europe) to be home to 2 global digital currenciesWomen’s Coin and Scotcoin!  How cool is that!

It can’t be a consequence that 2 digital currencies have emerged from Scotland.  It’s the foresight of the Scottish Government, Scottish Enterprise and Fintech Scotland as a hub for innovation in financial technology. Not to mention active support for emergent technologies by Kate Forbes, Minister for Digital Technologies.  Who I think is just fab!

Left: Kate Forbes, Minister for Public Finance & Digital Technology, (Prof) Christine Bamford and Dr Jane Lewis, Women’s Coin

Fintech Scotland, Napier University and other key stakeholders such as Virgin Money, Zortrex, Money MatiX, CU Apps and Payment Centric were so welcoming that we decided to establish Women’s Coin here in Edinburgh.  There is no doubt that Scotland makes stuff happen and has a real entrepreneurial spirit.

So how did we connect with Scotcoin?  Well it’s all down to Fintech brokering service.  It took a couple of meetings to establish a trusted relationship but now we feel that there is power in a collective approach

Temple Melville, Director. Scotcoin commented  “There was synergy between our coin offerings and a mutual  desire to move towards a ICO (initial coin offering) through a legal regulated framework”   Dr Jane Lewis, Strategic Director, Women’s Coin added  “We have a track record in successful partnership working –  So it made sense for us to explore how we might jointly raise our profile and collaborate on trading”

What is Women’s Coin? It is a digital currency for women (& men) with a humanitarian arm using blockchain to deliver charitable giving to the point in need without third party intervention.  Every time you use women’s coin payment you support another woman to survive in the most hostile environments on earth.  Supporting United Nations SDF 5 (Women’s Empowerment) A coin with a heart

See website http//womenscoin.com

Scotcoin does what is says on the tin.  A digital currency for everyone ”“ anywhere!

 To celebrate “Coin Collaboration”Fintech supporters will be invited to learn more about our “Coins” blockchain and crypto currencies during September Fintech Festival 9th-27thSeptember