Tether CEO: Blockchain is Just a Utility, No Need for In-house Chain

Tether CEO: Blockchain is Just a Utility, No Need for In-house Chain

Tether, the issuer of the popular USDT stablecoin, has decided not to launch its own blockchain. According to Tether's CTO, Paolo Ardoino, the company believes that blockchain is a commodity and there are already good options available in the market. Tether had been considering launching its own blockchain for some time, but has now decided against it. The company's CTO, Paolo Ardoino, said that the decision was made due to the basic economics of supply and demand. He added that Tether's technology is great, but they believe that blockchain will become a commodity in the future. "It doesn't make sense to launch our own," Ardoino said. "There are some really good ones out there. The market is already saturated. For us, blockchain is just a transport layer." Tether's decision not to launch its own blockchain is a significant development. It suggests that the company believes that the blockchain market is already mature and that there is no need for another new chain. It also suggests that Tether is not interested in competing with other blockchain projects. Instead, Tether is likely to focus on its core business of providing stablecoins. The company's USDT stablecoin is one of the most popular in the world, and it is used by a wide range of cryptocurrency exchanges and trading platforms.