We live in a world that is so filled with stablecoins that are tied to banks, weird regulations and of course, corporate policies that sometimes, do not make real sense to me and for some reason, it is easy to assume that all digital money must come with some form of control. I’ve practically dealt with some options that either require ID Verification or can even be frozen at will by a centralized authority,
Photo credit @doze
But what if there was something different?
I mean, what if there was a stable coin that wasn’t controlled by government or any corporation, whatsoever; one that anybody from anywhere could use so freely and privately?
Yes, it exists. It’s called HBD-the HIVE BACKED DOLLAR.
Now let’s dive into what HBD is.
It is the stablecoin of the Hive blockchain, which is a decentralized network that is built to be fast and controlled by its users. (my best part about the Hive blockchain anyway).
Fun fact: HBD is not backed by dollars in a bank. It is rather backed by the value of Hive which is the native token of the Hive blockchain. The stability of HBD is kept by algorithmic rules which are coded directly into the blockchain itself.
Another fact is that, HBD is not run by any company or custodian; neither are there any back-door deals with government or financial institutions-at least from what I’ve seen and observed. It is basically built on-chain, maintained by code and powered by a real global community.
So, in summary, I’ve made four points in total. Which are:
1. HBD is not tied to Fiat
2. It's not regulated by any government
3. HBD is unstoppable and Unfreezaable
4. HBD requires no KYC to operate.
Oh wait, do you still feel confused? That was not my intention though…
Okay, I’m going to highlight my points. Happy now, right? Right.
HBD IS NOT TIED TO FIAT:
Well, unlike the USDT and the USDC that practically depend on the traditional banking system, the HBD is purely native to the Hive blockchain. It doesn’t promise to be redeemable for dollars. Instead, like I said earlier, its stability is enforced by algorithmic rules, encoded directly into the blockchain itself. And as such, there is no fiat exposure and no hidden reserves as well.
HBD IS NOT REGULATED BY ANY GOVERNMENT:
Hive or HBD has no CEO, neither is it regulated by any central authority or headquarters managing it. What this means is that, there is no single jurisdiction that can clamp down on it, there is no company to threaten or even a regulator to demand compliance.
Hive is run by a group of witnesses also called block producers and they are elected by the community. This means that changes and upgrades are made through community agreement and not through board decisions or court orders.
HBD IS UNSTOPPABLE AND UNFREEZABLE:
The HBD in my wallet is mine and there is no admin key anywhere that allows anyone to freeze it or pull a kill switch. You need no permission from anyone to store, spend, or even send HBD. Your wallet is your bank and all our transactions are written in a ledger that is actually unstoppable.
HBD REQUIRES NO KYC TO OPERATE:
“Please turn your face to the right” “Please blink twice” You can never find things like this on Hive. HBD remains the only stable coin you can use, that requires no upload of any passport or ID. Using HBD just requires opening a Hive account and it's so immediate-no prerequisites. And it’s for everybody, no matter what you look like, where you live, or what your financial history looks like.
Beyond all this, Hive literally performs zero-free transactions, 3-second confirmation, and in-built savings options with HBD interest. It comprises of a growing ecosystem of apps, communities and games.
Wait! Are we still talking decentralized money? This is a whole decentralized internet.
When I joined Hive, I had this question: Why is HBD not hyped? Why is it so quiet?
It was later that I understood that it is not backed by billion-dollar companies or something like that. There are no flashy headlines showing partnerships or campaigns by influencers. It's just a quiet working system. And in the midst of the whole noise, it stands so powerful because of its quiet nature.
And so, if you're looking for a stable coin that is outside the reach of tyranny, surveillance and fiat corruption, look no further, for what you think is too far, is already here.
It’s HBD - The most decentralized stablecoin you’ve probably never heard of.
If you want to join the party so you don't regret later, you could visit hive.io to get started today