I have decided to do some research into all of the stable coin projects and I notice a lot of them like to use the words “trustless” when they describe their project.
However, I was thinking about this and I wanted to see what the people of the academy’ think about this. Since you rely on an outside source to back the stable coin on a 1:1 ratio, does this make most of the popular stable coins not trustless?
If someone wanted to turn their USDT to real life Fiat, wouldn’t they need the help of the company that issues the USDT?