Things that could go wrong (which applies to anything of this sort):

• Algorithm isn't solid and it loses data, or worse, corrupts it.
• Software is malware and uses computing resources or local data for ill purposes.
• Coinage has problems.
• Algorithms don't use good security so are easy to hack.
• The general idea is flawed and storing things in a decentralized manner isn't viable.
• Governments find a way to block it so it doesn't achieve its goal.

Note that these apply to almost any system of this sort.

EDIT: I realize now that OP was simply making fun of SAFE in the name, like how the PATRIOT act is anything but, etc.