Stablecoins will aid in the adoption and liquidity of crypto assets. Retailers can transact without volatility, and investors can have a stable asset that is pegged to fiat for trading purposes.
Tether has long been criticized as a centralized method of addressing the stablecoin utility. It is vulnerable to central bank confiscation and scrutiny. It also is controlled by a third party and therefore vulnerable to corruption. Tether is not a transparent blockchain where all assets can be accounted for. It's arguably not even a cryptocurrency per se.
The next generation of Stablecoins such as Maker and Terracoin will incorporate Decentralized Autonomous Organizations to ensure the trust machine of blockchain governs the system.
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