Bitcoin is unique. With the launch of its blockchain network in January 2009the genius Satoshi Nakamoto created the very first cryptocurrencies, with the central point his safety. And this security of Bitcoin (BTC) goes in particular through its strong decentralizationwhich notably ensures its resistance to censorship. And for the boss of Tether (USDT) this makes Bitcoin the only crypto that can truly claim to be decentralized.
Paolo Ardoino swears by Bitcoin, the one and only
During the conference BTC Prague which was held on June 13, 2024, Paolo Ardoinothe CEO of Tetherparticipated in a discussion on “ The evolution of mining [de cryptos] “. For the issuer of the USDT stablecoin, this was an opportunity to praise Bitcoin.
Indeed, for Paolo Ardoino, the invention of Satoshi Nakamoto is still in his eyes the only cryptocurrencies that can be considered truly decentralized :
“Bitcoin is certainty. It’s like a clock ticking, ticking forever. When it comes to the concept of unstoppable, or decentralized, products – because everyone uses the term [abusivement] the term “decentralized” – there is only Bitcoin. »
Paolo Ardoino, CEO of Tether
Tether executive admits his USDT stablecoin is centralized
For Paolo Ardoino, all other cryptocurrencies, including Ethereum (ETH) for example, are more or less centralized, according to his interview with Cointelegraph. For him, Bitcoin remains “the only example of a currency that is not governed only by mathematics which cannot be modified “.
“With other cryptocurrencies, you see that there is a group of developers who intervene every month. They release a new version of software, they change monetary policy, inflationary, deflationary, and they keep changing things. »
Paolo Ardoino, CEO of Tether
Moreover, it was on this occasion that the boss of Tether bluntly recognized that his stablecoin USDTand more generally crypto-assets linked to society, are centralized.
To the point that, for example, Tether – as an American company – sees force the freezing of USDT from wallets sanctioned by OFAC (Office of Foreign Assets Control) the United States. In other words of censor transactions. On the other hand, this would be totally impossible for bitcoins transiting on the BTC network.
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