This is very well written, a really good piece of research, but the only regret is that (Joe mentioned) the main character of this payment test is not USDT, but the Vietnamese Dong.

Why do I say this? Because USDT is just an intervention at the front end; what the store actually receives is still the Vietnamese Dong. The store itself is indifferent to USDT. In other words, if this were not in Vietnam, but in Thailand, Africa, or Venezuela, the essence would be the same; the terminal income is still the local currency.

What is it similar to? It is very much like the credit cards we use, whether it's VISA, Mastercard, or UnionPay, all of which provide similar functions. For example, with UnionPay, you deposit in RMB, but when you spend overseas, the merchant ultimately receives not RMB, but the local currency. VISA and Mastercard work the same way; even if you deposit in USD, when used in Vietnam or China, the final settlement is also in the local currency.

In this medium, USDT is just a medium, a medium that someone is willing to accept. However, in reality, there are almost no countries or cities where you can fully consume using USDT. Yet, there are some countries or cities where the usage rate of USDT is very high, and it can be used directly without acting as a medium, including Dubai, Lisbon, El Salvador, Venezuela, and Nigeria.

The road for cryptocurrency as the final settlement for payments is still long.

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