I'll have to argue they don't. Blockchains have full transparency and an established monetary policy. You have neither of those in USDT.
Isn't USDT just a token that is made on ethereum public transparent blockchain?
I am not fan of Tether but something like that can be useful short term when someone is trading.
It's funny, because by the same logic, I could argue that 'Bitcoin is a stablecoin, since BTC1 = BTC1'.
Not exactly, because they are comparing 1 dollar with all other fiat currencies and with other assets like gold, silver, etc. to determine how stable dollar is.
I think that nothing is really stable, it's only illusion used to steal wealth from people using inflation and other tools like that.
It's crazy to think that someone made us believe that fiat currencies can be called stable when we know they have infinite supply and they are printed all the time.