A confederation of seven Sioux tribes in the US have created a digital currency similar to bitcoin and adopted it as their official national tender.

The Oglala Lakota Nation (notable members of which include Sitting Bull and Crazy Horse; the chieftain who secured a victory over General George Armstrong Custer at the Battle of Little Bighorn) has launched MazaCoin in the hopes that it will help to lift the tribe out of poverty.

Bitcoin developer and member of the Lakota Nation Payu Harris says that he wants to take advantage of the semi-autonomous nature of certain Native American tribes within the US to oust the dollar in favour of more “forward thinking” alternatives.

“I think crypto-currencies could be the new buffalo,” Harris told Forbes. “Once, it was everything for our survival. We used it for food, for clothes, for everything. It was our economy. I think MazaCoin could serve the same purpose.”

Read More Here: http://www.independent.co.uk/life-style/gadgets-and-tech/mazacoin-n...