My first thought to this is, why would icn not use currently backed crypto for their reserve coin? Tether, or maybe bancor or yes SBD? Also, couldn't they just easily create incd?
Secondly, could they back with a major crypto currency? Currently bitcoin, but in the future, there could be additional options.
Finally, I like the change in withdraw option. That makes sense.
All these will compete but you likely don't want to trust the platform and the token. This is why tether has had some issues. It's best if the currency derives value from another source. The others you mention could work though I think bancor is not 100 percent reserved so this would be like buying a levered closed end fund(hey always the at a discount in a panic). They will likely create their own token but it might be tied to their platform where sbd gets its power from steemit adoption.
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