[otakucode]

You are correct that it wouldn't bring any sort of additional guarantee of the money being backed beyond what fiat currency already has. But, the advantage is that it could be proven, mathematically, that each bit of the currency was actually issued by the federal reserve and is actually backed by the government. As it is now, it could just be a bug, or malware, or pure fiction invented by a company to make their numbers look better. And you can't prove that either way.

I am no economist, but I have never thought the idea of "trust" had much to do with the value of US currency. Certainly it's not backed by gold any longer. But I think it's backed by something real. Bombs. The US has more than enough to force others to accept their currency as having value.