The article promotes ‘algorithmic’ smart contract stability of ‘stable’ coins. But if for ex. the buyer gets 1 USDT for their $1 fiat, then the issuer of the stable coin does not need an algorithm, they need to put the $1 fiat into savings — to be returned when demanded.

The algorithms and smart contracts are used to obscure the fact that instead of going into savings the $1 fiat may end in the pockets of the issuers.