The original name is Hive Blockchain Dollar not "backed". The lawyers for Steemit and Justin Sun were keen to make this point in the Bittrex case.

With the current regulatory discussions I think it's strongly preferable to stick to Blockchain not Backed. The HBD is backed by Hive which is a utility token. It's not backed by the USD. Might even be worth editing your post.

But reading this again now I'm seeing that it can be read that the HBD is a Dollar backed by Hive. 😊 now I'm thinking what I wrote at first is nonsense.

Carry on.... 😂