Going through X (formerly twitter), I stumbled upon a tweet 
In as much as all these concerns were initially the plan of cryptocurrency in the first place, I guess it is now safe to say that politics have snatched the true intent of the space (more reasons why than they let us know). But with all these said, I am here to tell you of one that has being in the shadows for a very long time (2020) building and and waiting for a moment to shine.
HBD (Hive Backed Dollars) stands out as the rare exception to what we see out there. Quietly and consistently, it is doing what stablecoins were supposed to do which is basically to provide financial freedom.
Here's a break down of why HBD might just be the stablecoin that fits into your criteria.
As you already know, many allenged “stablecoins” today are just dollar IOUs meaning that you’re holding a token that says someone somewhere owes you a dollar. Let me explain it this way, most stable coins are just numbers online having a physical holdings somewhere where such company can either go bankrupt or worst, influenced by the government. So you're trusting a private company, a legal jurisdiction, a banking system.
What is then the difference from trusting a bank which is exactly what crypto was supposed to free us from.
But with HBD, you’re holding a token that maintains its own on-chain value without asking for permission from anybody or pegged with a currency in a bank. What happens when binance goes bankrupt as we have seen in similar cases?
No middlemen. No banks. No government backing.
It’s not backed by fiat. It’s backed by crypto collateral, fully transparent and fully on-chain.
This is definitely where decentralization comes in.
With others, all it takes is a phone call from a regulator to freeze your wallet. Your “freedom” exists at the mercy of lawyers and others.
As for HBD, it runs on Hive a 100% decentralized blockchain with no central command and no CEO. If there is no CEO, you may ask how then is it maintained. Well, Hive is governed by a decentralized group of witnesses who are voted in by the token holders. There’s no “headquarters” to raid, no license to revoke. Hive was formed due to an hostile take over and they have created a system that prevents the same thing from happening again. That alone is much reason to come onboard. I guess there is saying for that
once bitten, twice shy
No KYC. No gatekeepers.
When I imagine a community with its own stable coin and currency, the only one that comes to mind is the Hive ecosystem with HBD as its stable coin. As most stablecoins are/were created by companies with a board of directors making profit is at the top of their list. But as for Hive, it is maintained by a global community of independent developers, writers, coders, and creatives.
And yes eventhough interest is earned while holding YOUR HBD (constant as defined by the witnesses) and by doing actions in the community (optional) this isn’t still a corporation but a digital republic made to empower individuals and not institutions.
I think you can now see that with HBD and it's ecosystem (hive), you’re not just using or buying a token you are entering a working first economy where
Blogging platforms like PeakD, Ecency, and LeoFinance let you earn HBD for your posts.
You can send HBD to anyone with a Hive username no need for long wallet addresses.
It is also used in games, dApps, and communities, and it’s growing steadily.
Hive isn’t just a chain, it’s a full ecosystem and you should see it for yourself.
