Tether is he competitor to Fedcoin, which does not exist. Both are really escrow services, they swap the swift protocol for the block chain protocol, this makes it easier for escrow services that need to exchange digital assets.
But all the escrow services will need timeout, hence, after some finite, and small, series of transactions, the tether protocol is turned back into the swift system. Thus, all tether wallets close the loop, their transaction history can be deleted from the block chain. Ripple has the same feature Both of these coins exist simply because the swift system is a three party protocol and unnecessary.
If I am designing Fedcoin to compete, then I need a simple, finite blockchain, with the automatic delete function. Since the procedure is only for escrow, only bots need own Fedcoin, timeout money, essentially.
What is missing everywhere?
The pit boss, the bot that can run the adaptive digital asset markets. The pit boss is the enemy if the perfect, iy gets everyone to the nearest approximation before the perfect can be computed.
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