As a corollary, once the largest proof of work based distributed system is monopolized, any other proof of work based system is at risk of being monopolized in a split second.
Maybe a workaround is to make a banking institution that cannot be corrupted by people. It buys and tests (maybe prints?) it own hardware, it check-sums itself continuously. It patrols its own perimeter. It fixes what it can and it crashes gracefully forever when it finds itself compromised. Of course, the research (yet alone engineering) problems it presents are huge and I doubt that a sovereign computer system is something desirable.
Maybe a workaround is to make a banking institution that cannot be corrupted by people. It buys and tests (maybe prints?) it own hardware, it check-sums itself continuously. It patrols its own perimeter. It fixes what it can and it crashes gracefully forever when it finds itself compromised. Of course, the research (yet alone engineering) problems it presents are huge and I doubt that a sovereign computer system is something desirable.