Why was the US dollar picked as the money to which to stabilize the HBD? Why not one of the other fiat currencies or the most popular crypto Bitcoin? Hive platform is used by people all over the world which use different fiat currencies. If their fiat currency is different than the USD, they will have exchange rate differences between their spending currency and the USD/HBD stabilized coin.
Because it is the world's reserve currency and encompasses the majority of the transactions around the world. Notice how all pricing of commodities are in USD. The same is true for most of the international debt.
As for crypto, how can you have a stablecoin tied to something that has enormous volatility and a lack of overall liquidity?
Posted Using LeoFinance Beta