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MazaCoin

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MazaCoin
MazaCoin logo
Denominations
CodeMZC
Precision10−8
Development
Original author(s)Payu Harris, AnonymousPirate
White papermazacoin.org/docs/MAZA-whitepaper-2014.pdf
Initial release7 February 2014; 11 years ago (2014-02-07)
Code repositorygithub.com/MazaCoin/maza
Project fork ofZetacoin, Bitcoin
Written inC++
Operating systemWindows, OS X, Linux
Source modelOpen source
LicenseMIT License
Ledger
Timestamping schemeProof-of-work
Block reward250 MAZA (as of September 3, 2021), (halved every 950,000 blocks)
Block time1 minute
Block explorermazacha.in
Website
WebsiteOfficial website Edit this at Wikidata

MazaCoin (Maza, MZC) is a cryptocurrency launched in 2014.[1]

History

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MazaCoin was developed by Payu Harris in 2014.[2] MazaCoin was specifically designed for the Oglala Lakota tribe in South Dakota.[3] Some Native Americans adopted the use of MazaCoin to assert sovereignty against the US Government and independence against the American regulatory system.[4][5][6] The currency began being used by the Lakota Nation in 2014, with half of its supply reserved by the tribe to minimize the price volatility common in cryptocurrencies.[7]

In October 2017, a Mashable article on the Oglala Lakota included a video about Harris's efforts to increase acceptance of MazaCoin.[8] In 2017, The Lakota leadership formally recognized MazaCoin as their national currency, but this decision encountered skepticism within the community. The concept of digital currencies, heavily reliant on technology such as apps and smartphones, was less accessible to older generations and those without consistent internet access. To counteract this, a system of paper wallets was developed, allowing MazaCoin to be stored and used in a more traditional, physical format. This system allowed tribal members to use MazaCoin in physical form for transactions within the community, converting it back to digital format at the centralized facility.[7]

By 2022, Harris had begun to pitch the coin across the tribe and help educate members on setting up wallets. He noted that interest in the coin had increased as cryptocurrency began to enter the mainstream.[2]

References

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  1. ^ Vigna, Paul (March 7, 2014). "Lakota Indian Promotes New Digital Currency, Mazacoin". Archived from the original on March 26, 2014. Retrieved March 25, 2014 – via www.wsj.com.
  2. ^ a b "He created an indigenous digital currency. The dream is still alive". MIT Technology Review. Archived from the original on 2023-09-29. Retrieved 2023-11-26.
  3. ^ Browning, Lynnley (2014-08-14). "Tribal Bitcoin". Newsweek. Archived from the original on 2023-12-24. Retrieved 2023-12-24.
  4. ^ Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". theverge.com. Archived from the original on March 5, 2014. Retrieved September 4, 2017.
  5. ^ Consuji, Bianca; Engel, Evan (18 September 2014). "No Country for Cryptocurrency This man thinks "Bitcoin for Native Americans" can solve tribal poverty. So why won't anyone give him a chance?". Mashable. Archived from the original on 19 April 2021. Retrieved 13 April 2016.
  6. ^ Landry, Alysa. "9 Questions Surrounding MazaCoin, the Lakota CryptoCurrency: Answered". Indian Country Today. Indian Country Today. Archived from the original on 9 October 2016. Retrieved 13 April 2016.
  7. ^ a b Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". The Verge. Archived from the original on March 5, 2014. Retrieved November 4, 2020.
  8. ^ Petronzio, Matt (9 October 2017). "Why Square commissioned this stunning short film about Native American youth". Mashable. Archived from the original on 2017-10-09. Retrieved 2019-01-06.

Further reading

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