Mazacoin Aims to be Sovereign Altcoin for Native Americans

Posted By Toyacoyah Brown February 10th, 2014 Last Updated on: February 10th, 2014

Iceland may be the first nation to get its own cryptocurrency, but if Payu Harris has his way, it won’t be the last. This week, he hopes to mine the genesis block for mazacoin, an altcoin for the Native American nation in the US.

Specifically designed for the Traditional Lakota Nation, mazacoin is initially being targeted at the Oglala Lakota Nation, which is Harris’ own tribe. He works at Kimitsu Asset Management, which is focused on creating a bitcoin-based native American tribal cryptocurrency.

Harris is launching the altcoin under the Bitcoin Oyate Project, and hopes it will give native American communities some fiscal autonomy.

“One of the favorite tactics used by the Dept of Interior and the local State Government is to threaten to freeze bank accounts if the tribe takes a position that could challenge a State or federal interest,” he alleged.

Harris argued that the tactic has been used several times before against tribes operating casinos. “An independent crypto currency would eliminate the State/Federal ability to freeze accounts and tamper with lawful tax revenues,” he said.

Read more about mazacoin on the Coin Desk website.

Home » Native American Articles » Native American Culture » Mazacoin Aims to be Sovereign Altcoin for Native Americans

About Toyacoyah Brown

Toyacoyah Brown is an enrolled member of the Comanche Nation, currently living in Chicago. She received her B.A. in Journalism from the University of Oklahoma and an M.A. in Media Studies from the University of Texas at Austin. When she's not scouring the Internet for fun things to share with PowWows.com readers you can find her digging for vinyl in her local record store or curling up with a good book.

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