[janoc]

I thought we did it (actually the ancient Chinese did) so that we don't have to pay in bags, wheelbarrows and horse carts of heavy (as in mass) metals whenever larger transaction needed to be made?

But what do I know, conspiring about evil governments & banks trying to print money out of thin air is a much more sensible argument, right? Just as there is an article on the front page on Tether "minting" a billion USD equivalent Tether out of literally thin air ...

[toomanydoubts]

Well, partially correct. It was a quality-of-life thing until the banksters realized they could let out more IOUs than gold they had in the vault. From there on, it would only be a matter of time till the gold-standard becomes abolished, giving governments and banks the ability to print money at will.

Tether coins are basically the same thing. You still have to trust the neo-banks to still be holding your actual dollars somewhere in their vault. I don't, that's why I prefer not to buy bogus coins.