I guess if you want something very simple the best description I heard about what is bitusd was from someone in here (I think Toast not sure) bitusd is a usd in the internet so essentially bitshares is the way someone can obtain this new form of "internet" usd
Like this:BitUSD is the USD (the money of the internet), so essentially Bitshares is offering the kind of internet money to be used as the preferred digital currency where your imagination allows you to go, and once you decide to change the internet money with real cash, you need to eat sometimes, dont you?, well then you can change this to the worlds fiat like USD, EUR, CNY, CAD etc. via the Open Ledger - an all-in-one solution provided by the Bitshares financial network and CCEDK, the danish crypto currency exchange allowing deposits and withdrawals of crypto to fiat in a smooth, efficient and secure way
Open Ledger is a bitshares 2.0 wallet with a decentralized exchange and financial network for cryptocurrency offering the speed of 100K transactions per second, the wallet is your very own vault for highest security allowing multi-sig accounts and with the additional real-time crypto debit NanoCard allowing you to have your dinner in that very special resturant of yours with crypto funded durectly from your account in the very moment of the transaction of payment, you have all whatyou need to be trading crypto curerncies on a full stomach in a secure environment.
I guess I should add that we are consiering using Open Ledger as the name of the CCEDK based bitshares wallet.