Hive Backed Dollar ($HBD) is the stablecoin of the Hive Blockchain.
This asset works for hivers and businesses as a refuge from inflation.
In countries like Cuba, ARG and VEN (also Nigeria) HBD acquires a special importance due to the hyperinflation of our local currencies.
The race to protect against inflation produces precisely the opposite effect. Every day thousands of businesses in Cuba go out to buy foreign currency because the $CUP are burning a hole in their pockets.
The bank does not meet the demand and the black market occupies that space.
The result? They pay it at the price it appears and the price goes up, up and up.
Solution? $HBD. I'm not saying it's the only one, but the race against inflation ends when you charge for your product or service in stable currency with 1x1 parity with the dollar, easily exchangeable, no fees and no central entity dictating how, when and where you use your money.
Full article in comments 🔽:
Everything HBD has to bring to economies like the ones described in the previous thread is in my latest article, take a look:
https://inleo.io/@crptogeek/hbd-inflation-rate
I absolutely agree that stablecoins are a formidable weapon against inflation, as they are outside the direct reach of central banks and traditional regulatory bodies.
Nevertheless, I wonder whether this will continue with the arrival of institutional players and regulators in the game.