DAI satisfies that, is is pegged to the dollar by a smart contract that issues loans, expands, and contracts the DAI supply to keep the peg. It is not backed by

DAI satisfies that, is is pegged to the dollar by a smart contract that issues loans, expands, and contracts the DAI supply to keep the peg. It is not backed by real dollars*. It's not untraceable, same as Bitcoin, but that's been solved by things like Monero. I bet the two concepts are compatible. *It is backed by traditional crypto, in addition to USDC and other stablecoins which are in turn backed by real dollars, so it's partially backed by dollars.