From the America history we can know that America was a Deflation economic system in few years. At that time USD was maintain and the prices was keeping a low average. This why we need a 'something standard' monetary system but not a credit credentials paper.
You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetray system , and show the Bitcoin savings address, what will happen?
Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not go high in a long cycle times.
I could see it happen but only with a small or third world country. Its also possible that a country would use an altcoins that has features that are more conducive for this purpose such as one with low transaction fees.