Quote from: Fargusson on July 22, 2017, 07:06:56 AM

Quote from: j-rise on July 22, 2017, 04:36:15 AM

Quote from: Duchess on July 22, 2017, 04:18:17 AM

It would be great if countries move their fiat to Eth tokens. Imagine what it would do to the Eth price. I would just like to know what would happen if a country does move its fiat to some kind of contract and it gets hacked and drained like we see with these hacks? What guarantees does a country have how it would be handled and if so would there be a difference in handling between countries of different sizes/locations/principles etc?

I think its quite possible for a country to move their fiat into tokens once the all the investment and transaction options that are currently open to fiat become available on ethereum, hence meaning they do not have to exchange back into fiat currency at any time.. Maybe in 10 years? Just a guess. I could imagine if ethereum moves to a Proof of Stake model like they are supposably planning that that a large holder of ethereum such as a country would get some sort of preferential treatment due to there larger contribution to the network.

I copy/paste an old link about Singapore tokenizing its singaporian dollars on the ethereum blockchain to enrich the discussion.

You'll also find behind an light sum-up about PoW vs PoS and below a more tough discussion between Vitalik Buterin and Tuur Demeester on the PoW design:
- Original Vitalik's paper
- Critique by Tuur Demeester
- Vitalik's answer to Tuur's critique
- Tuur's answer to Vitalik's answer
- Vitalik's answer to Tuur's answer to Vitalik's answer to Tuur's critique

The last one is about j-rise's question on the risk of an unfair advantage for nations on a PoS model.

thanks for this it helps sum it all up easily