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Full transparency is in the "DNA of crypto" imo, and shady dealings being out in the open is definitely a check against "crony capitalism." However, beyond the

• tome 5y ago
  To what extent is Tether "out in the open"?
• arcticbull 5y ago
  It's really not - that's just marketing. The reality of the blockchain is that its guarantees only extend to what can be wholly represented and encapsulated on-chain. That's why only abstract/fiat currencies have emerged after 14 years of research as viable use cases. The boundary between the chain and reality is where these guarantees break down. The blockchain cannot guarantee the reserves in Tether's bank account. That's not transparency, that's the illusion of transparency. That's much worse than intentional opacity IMO since it throws people off the trail.