The Mazacoin founding press release stated that Mazacoin was "commissioned by the Oglala Lakota Nation" with the task of creating for them "the first ever Sovereign National Crypto-Currency." Now some people have claimed that Mazacoin was claimed to be an "official" currency of the Oglala Lakota Nation. But there is a clear difference between a currency being commissioned to be created, and it being officially adopted. The former would mean the Oglala Lakota Nation looked upon the currency with approval, the latter would mean the currency was legally adopted. But nowhere was it claim by the founder of Mazacoin that Mazacoin was a legally adopted currency of the Lakota. In fact there was a written document that was an agreement between Payu Harris and David Mills, of the Oglala Sioux Office of Economic Development. The agreement can be downloaded here:
http://cryptominers.freeforums.org/the-memorandum-of-understanding-t10.htmlhttp://www.oglalalakotanation.org/oln/PROGRAMS_-_SERVICES.html Now even though mazacoin is not the official currency of the Lakota, this evidence shows the agreement between Harris and officials of the Lakota Nation that established mazacoin as a currency. This is not as amazing or news-breaking as "official currency of the Lakota Nation" but it's still a ground-breaking move in crypto-currency.
Nice post, no matter what the hell you think, it is quasi-official because it's not like the Lakota are just going to turn around and create a new crypto to supplant the work Payu has been doing. This is the first and only chance the tribes have to do anything like this, there will be no 2nd shot so in that sense it is official.
Also at this point, it has not done anything for them yet... if they can get a mining community going and earn from and make Maza work for them, and it brings them in millions, and say even more money than they get from the federal gov then they have a shot at being more independent and if it works for them, then I can imagine them going all out and crossing the line and saying to the gov- yep its official... but at this point.. if they let it grow there is nothing to fight... then if it works they can say, yes this is our currency, take your funding, we no longer need it and send your men with guns if that is what you need to do... shoot us in front of the eyes of the whole world and see where that gets you.
If they take this approach, and they in their self governing capacity make Maza legal tender on the reservation, alongside the dollar , and stuck by their position, and worked to make good of it in the reservation, then this could be really something and the legal status could still be coming further down the line which is why I think it is more than worth backing, and I have done so.
They should aim for the future, and aim big, the technology is there and at a price point that works, and if they take what they want and need from modern society and leave the rest... this could be a great win for them. Really in this day and age indigenous peoples of all of the globe should be helped in an effort to help them where they need it, and help them and help us preserve their rich cultural heritage, which is interwoven with the heritage of all of mankind. I have visited indigenous tribes in several places around the world and the economic disparity is insane when in those same countries there is vast wealth, and much if not all of it has come at the expense of the lives and cultures and lands of the indigenous habitants that have by on large been held down on an institutional level for a very long time... decisions made decades, half a century ago, still reverberating down the generations to present day, the invisible boot still stamping on their faces.
I think that crypto currency really could help these guys... if they embrace it and turn it into the industry of the tribe, educate and create and build...propser, and there is a window here they could really leverage, and I think that is what Harris is trying to do...
I tip my hat to them...
I am personally buffaloish on Maza.