[wegwerfbenutzer]

No, currently DAI is backed by Ethereum. You only need to spend one minute on their website or subreddit to get this information. I follow them for a long time and never even heard of them being backed by fiat. They only try to use virtual goods like virtual gold, cryptocurrencies etc. as collateral.

[RexetBlell]

Dai is not backed by Ethereum. Dai is backed by Ether.

[rthomas6]

Okay Mr. Pedant. Actually Dai isn't backed by either one. It's backed by an ERC-20 token called Pooled Ether.

[drcode]

Virtual gold is not "backed by ethereum" it is backed by gold. These are obviously the third parties I'm talking about.