- The upcoming USDT documentary will explore Tether’s significant role in combating inflation in economies like Turkey, Brazil, and Argentina
- Featuring real user testimonials, the documentary illustrates how USDT is used similarly to the US dollar in daily transactions
- Tether celebrates its 10th anniversary as the largest stablecoin, with a market cap of $120 billion, making it a crucial player in the cryptocurrency market
Ether to Release Documentary on USDT: Focusing on Its Impact Against Inflation in Weaker Economies
The company behind the stablecoin Tether announced the release of a documentary on USDT. This is on the 10th anniversary of the stablecoin. The film will concentrate on how this stablecoin has fought inflation in local fiat currencies.
The documentary includes comments from users of the stablecoin, pegged to the value of the US dollar, while trying to hedge against inflation. The trailer shows interviews in Turkey, Brazil, and Argentina, where their populations suffer from high rates of inflation.
Through the documentary, Tether’s stablecoin is portrayed as being used by the common people as the US dollar would be. One of the persons interviewed said that, in Brazil, “USDT represents 90% of daily transactions in the country.” In fact, the adoption of USDT in Brazil increased in 2023 and became 80% of all crypto transactions in the region.
Tether Celebrates Its 10th Anniversary
The first Tether tokens went live on October 6, 2014. It was initially founded by entrepreneur Brock Pierce along with Reeve Collins and computer engineer Craig Sellars. The startup Realcoin laid the bedrock for operations that would become Tether.
It is, however, a relatively simple concept: a tokenized version of the US dollar with a 1:1 ratio, retaining the ability of cryptocurrencies to achieve fast, global value transfer over blockchains.
Originally implemented on the OmniLayer platform and based on the Bitcoin protocol, USDT has now been extended to more than 10 other blockchains, such as Ethereum, TRON, and The Open Network.
With a market capitalization of US$120 billion, USDT still remains today’s biggest stablecoin outstanding and the third most valuable cryptocurrency after Bitcoin and Ether.
Conclusion
In conclusion, the anniversary documentary on Tether celebrates USDT as a very significant instrument in the fight against inflation in countries like Turkey, Brazil, and Argentina.
The film has demonstrated, through testimonies from real users, how far the stablecoin has become one of the fundamental tools used by individuals on a daily basis in their transactions, a consequence further solidifying the power of cryptocurrencies to solve important economic problems.
With growing adoption and a market capitalization placing it in the leading group of cryptocurrencies, USDT is still in a position to strike a blow in the financial world.
