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A Native American Tribe Hopes Digital Currency Boosts Its Sovereignty
There’s a lot of talk about virtual currencies lately — how they work, economic implications, and whether they’re safe. But now a Native American tribe is using a Bitcoin-like currency to help strengthen its sovereignty.
In South Dakota, the Oglala Lakota Nation has become the first Native American tribe to launch its own form of virtual currency. Payu Harris, its creator, calls it MazaCoin.
And MazaCoin does work a lot like the already famous Bitcoin: You can either buy it with dollars or (virtually) mine it. And then you can use it to trade for goods at places that accept it. (If you’ve been ignoring Bitcoin, this handy explainer is for you.)
Harris, a developer and activist, says there are different ways in which MazaCoin can help the Lakota Nation — but his main motivation for creating it was enhancing the tribe’s independence.
In South Dakota, the Oglala Lakota Nation has become the first Native American tribe to launch its own form of virtual currency. Payu Harris, its creator, calls it MazaCoin.
And MazaCoin does work a lot like the already famous Bitcoin: You can either buy it with dollars or (virtually) mine it. And then you can use it to trade for goods at places that accept it. (If you’ve been ignoring Bitcoin, this handy explainer is for you.)
Harris, a developer and activist, says there are different ways in which MazaCoin can help the Lakota Nation — but his main motivation for creating it was enhancing the tribe’s independence.
http://www.opb.org/news/article/npr-a-native-american-tribe-hopes-digital-currency-boosts-its-sovereignty/
Are the Oglala Lakota Nation folk a cult of idiots? I don't think so.
