Or we could just create a globally shared auditable ledger on which we could record transactions and balances... The bigger point here is that Tether and the issues here are not crypto problems but rather traditional money problems. When enough people just accept crypto like BTC or ETH the need for Tether, as well as USD goes away. We are just now in a transition period.
There is 600 M USD that has been taken out of Bitcoin into USDT, which given the current situation will now try and convert back to Bitcoin driving the price up.
I think that this has to do with the fact that snapchat hasn't really brought much of any technical innovation to the landscape since the original app. Their lenses that they introduced were acquired not developed in house. There are other messaging apps that are starting to gain market share like Flashbang! www.flashbang.strikingly.com which actual have innovation.