According to ChainCatcher, Tether CEO Paolo Ardoino posted on social media that the stablecoin USDT is an encryption technology developed by Tether in 2014. It has now been adopted by many individuals and governments, with hundreds of millions of users around the world. Therefore, it is not just a "cryptocurrency", but should also be regarded as a digital dollar.
The real innovation is that through USDT, Tether has established a checking and savings account for people living in countries with extreme inflation and underdeveloped banking. In this way, USDT has introduced a checking and settlement system to the financial industry.
