I don't understand why native Americans who usually have sustainability in mind have been mesmerized by electronic crypto currencies.
If they have the right to issue their own currency they should instead issue physical silver coins that do not require any computers, electricity or internet to work.
Im a geek, but Im also aware of peak oil and the collapse of the modern society and the infrastructure needed to run cryptos.
Therefore I have most of my savings in physical gold and silver, not cryptos.
This isn't the middle ages. We live in a global connected society by the way of the Internet where gold and silver are useless as a common means of economic exchange. Thinking gold and silver will make a comeback as the next money after fiat is foolish. Metals as a currency are unviable in the world we live in now. During a world collapse scenario, people will care about food and water, not gold with they cannot eat or protect themselves with.
This tribe is effectively bootstrapping their own crypto-economy which may bring them out of poverty. Each Maza represents a share of the tribes economic prosperity. With it is education to the tribe on using, maintaining, and building their network, which may lead them to be top developers in the digital realm someday, unlocking all sorts of potential for them.
To do the same kind of currency creation in precious metals, they would have to purchase it first with money they don't have, and then the costs of minting them, transporting them, etc. This is incredibly wasteful. And then what? Having a gold or silver coin that absolutely no one accepts as money outside their lands the world wouldn't help them. They would just have a closed economy of metal coins that are hard to spend and transport. Digital currency lets them interact with a worldwide digital economy, and makes it very easy for merchants to accept Mazas in minutes. It is all done with completely free and open software instead of a cabal of special interest mining companies, minters, leading back to banks and bankers, which as we have seen over and over again just ends in absolute corruption and wealth disparity.
As far as sustainability goes, do you have any idea how destructive mining is to our planet? The energy needed to drive computers can be derived from nature in the form of solar, geothermal, etc. The gold in your vault likely left its mark in the form of mercury contamination or other chemical waste, and devastation of the local ecology surrounding the mine.
Sorry, I just find your logic incredibly flawed.
