Paolo Ardoino:  The most interesting and most important use case for Tether is seen in developing countries in emerging markets.  So, if you go in Turkey, Argentina, Mexico, Venezuela you will find that you can use Tether and pay with Tether almost everywhere. People take salaries in Tether (USDT) and so on and so forth.

Why? Because we all know what happens to their initial currencies. In Turkey when the initial currency devaluated 50% against then Turkish Lira in the last 12 to 18 months. Actually, Turkish users are using Tether almost as an investment – it is an inflation hedge at least for them.  It is even investment because it is something that that they hold as a savings for them.

We were in Venezuela for the OSLO Freedom Forum.  We were the only stable coin called there.  Journalists from emerging markets and the people living in those emerging markets come and share their experiences to people like myself and others that are working in the crypto industry but also in the communication industry and so on.  Here at OSLO Freedom they voice their experiences.

We had people coming from Senegal. In Senegal everyone is using Tether or in Nigeria, because they are using it as a currency.  There are emerging markets which are made by people who are many times immigrants to find better luck and if they did immigrate, they at least want to help their children to immigrate, but they don’t have a way to save money, because their initial currency is devaluating. Hence, they cannot save enough or fast enough in order to create the future that they want.

So, they are, if you check in Nigeria, Tether (USDT) is one of the most used currencies there.  And, that is the same again in Venezuela. It is a store of value and also as a transaction currency.  People like to accept Tether more than their national currency.  The use case is growing by the day.  That is why we think our work method so much, because we don’t see ourselves talking with the CEOs and the biggest banks in the world or the prime minister or financial minister of the world.  Our work is about providing a safe tool that people can rely on.

We have one of the biggest use cases of Tether, which is remittance.  You have people working in Europe sending money at home and they get a hair cut at 17% and that is unfair. And, yet they can use that they are using Tether to escape that enormous fee.

So, if we are not creating technologies that are enabling freedom what we are here for? Right.