What Is Native Coin? (N8V)
Native Coin is a digital currency that is decentralized and universal and is used by the Native American Tribes and their casinos. According to its whitepaper, the token’s aim is for tribal enterprises to be able to transfer currency globally, avoiding any massive profit margin constraints, like in the case of traditional currencies. This means the transfer of funds is being done at a much lower cost with the help of using an internal peer-to-peer method.
Apart from casinos, the token’s vision is to be accepted and utilized across all tribal businesses and enterprises, such as hotels, resorts, etc. In addition to this, the coin also seeks to better the global gaming experience and attract users from across the globe to these businesses via online gaming platforms.
The platform identifies a few barriers such as political, economic, and social faced by indigenous businesses. Therefore, the currency can be used for transactions that would remove the mentioned barriers and enable non-indigenous companies to identify indigenous businesses and for both parties to form business relationships. Further, the token also solves the challenge casinos face in acquiring new online gaming customers, given the time it takes for banks to approve transactions.
The blockchain technology supporting the token is Ethereum, which provides a secure, sovereign, and practical currency for tribal businesses and indigenous enterprises in North America and other parts of the world. Subsequently, the token adheres to the ERC-20 standard. Also, the currency is not just limited to indigenous peoples or tribal entities but can be used by international logistics groups, non-tribal private businesses, and private transactions.
History of Native Coin (N8V)
The coin was founded in 2019 by Andrew Ebona. Andrew was the former Executive Director of the National Congress of American Indians and currently serves as a treasurer for the third term for the National Indian Gaming Association. He realized that native American tribes needed a financial system not hindered by red tape and bureaucracies related to traditional currencies and financial systems.
