I know Realcoin was quite controversial when Brock Pierce first announced it last year shortly after joining the Bitcoin Foundation but I've always had a fascination with cryptocurrencies that attempt to peg themselves to USD. As far as I'm aware, there are only three cryptos that track the price of USD and they are NuBits/NuShares (based on Peercoin's Peershares), BitUSD (based on BitShares), and CoinoUSD (based on NXT's Coinomat).
Realcoin was meant to be a coin operating on top of the Bitcoin blockchain via Mastercoin and backed by a reserve of real USD. Of course it was controversial, but there are also some undeniable benefits of putting fiat on a blockchain. For instance, trading becomes much easier when you don't have to deal with banks and regulatory agencies. And of course, crypto transfers happen at a much faster speed compared with the traditional banking system. These currencies can also act as a proxy for "real" USD when trading on exchanges.
I tried searching for any news or posts about Realcoin made in the last couple of months or so and there seems to be nothing. Does anyone know what happened to it? Is Brock Pierce still developing it or has the idea been abandoned?
Realcoin became tether -
https://tether.to/It's used on bitfinex, poloniex etc
