It's about time somebody came in and provided decent competition to Tether. But still, I wonder what's in it for them and how are they going to make money from all their time and effort built creating a stable coin? Also if it's linked to the traditional banking system won't it be somewhat easy to stop?
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Agreed that we need a "certifiable" honest Tether. And these ARE the guys to do it, if they benefit from the Bit Shares experience. (By the Way is it Block One doing it?)They have been experimenting with creating all kinds of currencies and well, uh, derivatives of all kinds at the BitShares exchange (BTS) commodities, gold, silver, rare earth metals and I don't even know what...
But anyway they've already put in the time and effort. So they must pretty much have a template that they can just tweak each time they create a new coin or token.
Regarding the traditional banking system, if anyone knows how money works it would be those who have mastered BTS. I think they intend to out-compete the Banksters with the shield of honesty and rectitude and the bludgeon of open sourcing, immutability and transparency.