Ardoino's statement emphasized the preference for "Blockchain Y" due to its low transaction fees, positioning it as a cost-effective solution for users, especially in emerging markets and developing countries. He pointed out that the network serves as a vital payment transport layer, particularly for those unable to afford higher transaction costs associated with alternative blockchains.
Highlighting the first-mover advantage, Ardoino noted that tens of thousands of Payment Service Providers (PSPs) have dedicated resources to integrate "Blockchain Y." The CEO emphasized the established position of this blockchain as a favorable choice for many businesses, showcasing its efficiency and cost-effectiveness.
In the evolving landscape of Layer 2 solutions on "Blockchain Z," Ardoino acknowledged the plethora of options available. He emphasized the potential confusion for payments companies in choosing the right solution, emphasizing the importance of timing and focus in implementation.
Ardoino clarified Tether's stance by asserting that the stablecoin issuer does not favor one blockchain over another. According to him, Tether supports various blockchains as transport layers for USDt and other tokens, allowing users to decide based on factors such as support, speed, and cost.
Paolo Ardoino's statement provides insights into the strategic use of USDT on a specific blockchain, addressing criticisms and highlighting the practical advantages that have contributed to the widespread adoption of Tether's stablecoin in the crypto space.