#mazacoin

[midlandsbtcdotcom-blog]

[readontheinternet]

One Man's Lonely Quest to Build 'Bitcoin for Native Americans'

To Harris, a Cambodian-born Cheyenne Lakota, MazaCoin is a creative economic solution to Pine Ridge’s legacy of problems. Sprawled over 2.8 million acres, the reservation is home to 40,000 members of the Oglala Lakota tribe, one of the poorest communities in America. An 80% unemployment rate forces half the population to live below the poverty line, scraping by on a per-capita income of less than $8,000 a year. The average adult will live 50 years – the shortest life expectancy in the United States – partly due to a 75% alcoholism rate.

Pine Ridge residents have long suffered exploitation and abuse, whether at the hands of the U.S. government – which they accuse of failing to uphold treaty obligations – or their own tribal administration, which is frequently accused of corruption. Today, the tribe is facing million-dollar budget cuts from the federal government, which will affect housing, education and health services. A sense of despair hangs over the reservation.

Here, Harris sees an advantage: As a legally sovereign nation, Pine Ridge is a unique candidate for a cryptocurrency. Harris has already allotted 20 million pre-mined coins for the Oglala Lakota tribe as part of a development fund. In theory, as the value of the coins increase, the tribe could become fantastically wealthy, solving some of the financial issues that plague the community.

But the potential for disruption – and conflict – is high. For instance, it’s unclear whether the U.S. could impose any regulations on a state-approved cryptocurrency, or whether the tribe would be obliged to pay taxes were it to forego the federal dollar. Harris, who has no background in law or politics, may be ill-equipped to tackle such nuanced challenges.

“If we’re going to be a sovereign nation, we have to act like it,” Harris says. “Will this currency help rebuild the country and the economy? I believe that it will.”

[jaydokie]

Oglala Sioux Hope Bitcoin Alternative, Mazacoin, Will Change Economic Woes

Oglala Sioux Hope Bitcoin Alternative, Mazacoin, Will Change Economic Woes

The Oglala Sioux of South Dakota, by many measures America’s most impoverished Native American tribe, are a world away from the wealth of Silicon Valley and Manhattan, where prominent investors are collectively pouring billions of dollars into Bitcoin and other digital currencies.

But the idea of replacing paper U.S. dollars in a wallet or bank account with a digital equivalent is coming to…

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[coinbrief]

Unlike Iceland's Auroracoin, Ecuador has an Official Cryptocurrency is up on CoinBrief http://coinbrief.net/wp-content/uploads/2014/08/Ecuador-Asamblea-Nacional.png #AuroraCoin, #Bitcoin, #Ecuador, #Isracoin, #MazaCoin

Unlike Iceland's Auroracoin, Ecuador has an Official Cryptocurrency has been published on http://coinbrief.net/official-ecuador-cryptocurrency/

Unlike Iceland's Auroracoin, Ecuador has an Official Cryptocurrency

Auroracoin Was From Iceland With Love The one that started it all. In March 2014 someone calling themselves “Baldur Friggjar Odinsson” decided to release the first national cryptocurrency, Auroracoin. Designed to replace the Icelandic Krona, this was a bold idea, and half of the...

[lakotapeopleslawproject]

Last Real Indians presents this week's Rez Roundup!  A new digital currency, Indigenous issues at the United Nations, and the Thompson brothers' lacrosse success!  WATCH here: http://lakota.cc/1p1G1Pu

[culturalcurrents]

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.

[bitcoinviews-blog-blog]

New Post has been published on Bitcoin:Views

The Dawn of the National Currency – An Exploration of Country-Based Cryptocurrencies

By Adam Hofman, bitcoinmagazine.com

In less than twenty days Auroracoin, Iceland’s own national cryptocurrency, will be distributed throughout the entire population of Iceland. The “Airdrop” commencing at midnight March 25th marks the first local cryptocurrency to be distributed country-wide. Will Auroracoin establish the trend of country-based cryptocurrencies? In reality, it seems to be the case, with local currencies like MazaCoin and private money like Evergreen, all centered on a combination of various cryptocurrencies.

Recently, the Lakota Tribe residing in areas of North and South Dakota have began adopting MazaCoin, a Bitcoin derivative, as its national currency. The confederation of seven Sioux tribes have created MazaCoin with the hope that it will help lift the tribe out of poverty.

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