Tether is not a decentralized cryptocurrency. He was not and never will be. The document cited only talks about the decentralized exchange of tether for other values. We can agree with this, since such an exchange does not really involve a third party. However, the tether token itself is completely centralized in nature.
Completely agree with you, mate. While many people Tether to be a "decentralized" stablecoin, the hard truth is that it's not. Operating on a decentralized network does not make the stablecoin itself free from third-party interference. Everything will depend on how the stablecoin was coded by the developer. Considering that Bittrex can freeze USDT balances on the Blockchain, the world's most popular stablecoin becomes nothing more than another banking system. This goes against what crypto and Blockchain tech were created for. I guess most people don't mind as long as they're able to make money in the long run. Tether proves to be extremely convenient for day trading and wealth preservation as it mimics traditional Fiat (USD) in every way. It's so much better than cashing out crypto to a bank account.But when it comes to achieving true financial freedom and censorship resistance, traditional cryptocurrencies like Bitcoin and Ethereum prove to be the winner.
Nonetheless, people will eventually get to know everything about Tether as it becomes more popular in the mainstream world. They'll be able to differentiate centralized and decentralized stablecoins with ease. Veterans/experts in the crypto space already know about Tether's issues, as well as, the benefits of using a decentralized stablecoin. With DAI serving as a decentralized alternative to Tether, there may be no need to look further in order to enjoy the best of both worlds. Time will tell us whenever Tether will be a failed experiment or not. Just my thoughts