but information unrelated to lawsuit revealed again that Tether is not backed 1 to 1 with US dollars.
We all kind of knew this was the case..... didn't we.
DAI and any decentralized solution is the best IMHO. If our stable coins need a bunch of bankers and governments, that's not really in line with what crypto are about.
PS: I love this type of analysis posts :)
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Glad you dig the post and excellent point!
I'm with you 100%, decentralization all the way with DeFi.
It removes trust from centralized banking cartels that have frankly been exploiting people for as long as they've existed.
Auditable, decentralized smart contracts is where it's at. I guess that's the beauty about crypto-collateralized stablecoins, they can be completely decentralized end to end.
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Don't' forget these legacy systems are super slow and expensive too. You could transfer a million bucks in 3 seconds with no fees on Hive or Steem. On EOS it's only 0.5 seconds. I was blown away when my bank took multiple days to transfer funds from one account in the same bank to my own account.
shocking huh! Whenever I see legacy systems perform like this I cant help but think "You're days are numbered!"
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