A native American activist (Payu Harris), who’s also a programmer, started a movement with his partner in 2013, which they believe would put an end to the economic struggles in the Native American tribal society.
According to an article by Harris, “for decades Indigenous Native American tribal nations have suffered in crippling poverty and have struggled to find a solid means to make a positive impact on our tribal economies until now.”
In their quest for financial freedom, the partners created a native cryptocurrency, Mazacoin (MZC), which they see as a way to rebuild the local economy and an emerging sovereign nation.
Harris believes it is time for federal authorities to accept the Native American Tribes as sovereign nations.
“It’s time for Federal agencies to take a step back, recognize and respect tribal sovereignty. It’s time for tribes to look past the idea of tribal casinos and begin developing our own currency with capital markets so we can better build a strong, secure financial future for ourselves including the generations to come,” he wrote.
Since its launch in 2014, the cryptocurrency had received little recognition, and it ultimately led to the assumption that Mazacoin is dead or one of the many scam coins in the crypto space.
However, this may be untrue because recently the cryptocurrency has captured the attention of tribal investors and crypto enthusiasts from around the world. Thanks to the increasing number of global crypto enthusiasts and the unprecedented surge in the value of Cryptocurrencies like Bitcoin and Ethereum, there has been a recent surge in the value of Mazacoin.
One of the main reasons why the value of Mazacoin was on the low since its launch was that the tribes did not understand how the Blockchain technology works and its many benefits. Also, they believed that cryptocurrencies were illegal and cannot promote economic development since government authorities frown at cryptos.
Mazacoin will have ATMs
Harris has been working tirelessly to receive endorsement and support from different tribal councils in the Native American society. Recently, Wasu Dute, a respected and well-known leader and spokesperson for the great Sioux Indian Tribe, endorsed the cryptocurrency.
While Harris has done so much this year to ensure that the natives adopt Mazacoin, the developers behind the cryptocurrency are also working very hard to build ATMs for the crypto on the reservations.