[coralreef]

Wow, those are some very nice buzzwords. But really...

Wouldn't the most economical way of bridging value from the real world be to just take real money, rather than have it inefficiently pass through hardware and electricity costs? Aka, trading ETH for tokens like every other token. I mean I COULD pay my barber with sacks of potatoes...or I could just give him cash.

As for the argument of not needing exchanges, you don't need an exchange to issue tokens. You send ETH to a smart contract, and it stores the address. This already works and is decentralized. If you wanted to TRADE those tokens, you do need an exchange. So this mining scheme doesn't really solve exchangeability at all.