Citizens for Sound Money created the term “Asset Backed Digital Currencies” (or ABDCs) due to confusion on the various nomenclature. Here is an excellent article on what an ABDC is that resulted in our discussion with Nate Fisher. In short, it is a currency tradeable on the blockchain (like crypto currencies) that is backed by and can be redeemed for a physical asset.  This is in contrast to:

Some existing ABDCs are Kinesis KAU/KAG. Pax GoldLODE, and others. Much like the day when there were numerous local banks that gave out their own certificates when depositing gold/silver, there are likely to be an increasing number of ABDCs.  Competition in the space is a good thing for users.  Also this can provide users some diversity against counter-party risk.  

Kinesis is unique due to it’s yield engine and it being the only one to offer a silver based ABDC (KAG).  For more information on Kinesis see the article “Sound Money with a Digital Twist”.