Re: Oh boy - I think this is going to be big... Tether on Bitfinex
Nope. Just administration of the guarantee (the backing). Everything else is decentralized. The token still trades without interference from a central authority. But unlike bitcoin which has nothing backing it, Tether will have a pot of cash stashed away (with an administrator - hopefully trusted.) The admin won't be able to manipulate the token. The high level of auditing will assure the backing is well cared for.
Either this is a joke or you don't understand what you're saying
It is centralized like bank you use to cash out money, but it is decentralized in terms of sending your money to anyone anywhere ....
but of course if bank is descroyed your coins are worthless
generally if any part of system is centralized then the whole system is centralized... this will only give people option to use USD like crpyto... only question is what government will do with this.
I wont be using this unless this company gets approval for what it does...