I know that US government have gold to agregate value to its dolar, and following this line of thought the most powerful money in the world buy gold so them can guarantee their economy. By the way China some serious problems with this matter because they don't have enough gold to guarantee their economy an the results are that China's coin is inflated by its government.
BUT with e-coin... why would someone pay for the code generated? What would that person do with that code? What's the utility of this code we keep mining?