So part of the challenge is to insure HBD in the most decentalized way as possible. Decentralize the insurance with a decentralized asset; decentralize the approvals; decentralize the verifications; etc. This is how I'm understanding the proposal.

While HBD could be partially insured by ETH or BNB (the other top-ranked cryptocurrencies), both are centralized to a high degree. If HBD is going to be partially insured, BTC is pretty much the only asset to use.

Whatever centralization we encounter will be done at the lowest level possible, and it will be minimal. This may not be avoiadable, but it would be worse if an asset that is not BTC is used t partially insure HBD.

This is definitely an ambitious undertaking, to partially insure a decentralized stablecoin such as HBD with the decentralized asset that BTC is known to be (at least relative to altcoins). If we can prove that this can be done in a decentralized manner, this would truly be ground-breaking.

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