Steem Dollars can almost always be converted to $1.00 worth of STEEM.
Steem borrows a concept from the startup world known as a convertible note. Convertible notes come in many forms, but the basic
idea is that they are worth $1.00 of shares at a future price. STEEM Backed Dollars (SBD) convert to a crypto-currency rather
than to shares in a company.
The price used to convert SBD to STEEM is derived from a reliable decentralized price feed.
|Ned Scott "steem"||CEO of Steemit|
|Daniel Larimer "Bytemaster"||CTO of Steemit, founder of Bitshares|