Anonymous ledger swapping

This is the typical problem: Person A agrees to  enter a transfer into ledger a. Persom B has ledger b and agrees to a similar transfer.

This is a contract, how is it enforced. Person A watches ledger b to see that the transfer completes before timeout. And visa versa.  Miners for either ledgers can hold a transfer in their observable, secure chains for some period, a few hours maybe.  During this period, they will reverse the transfer for a fee, a fee that approaches the transfer value as the timeout nears its end.

There is, thus,  a 'fails to deliver' fee, and the miners collect it. They collect it mostly on failed fraud in which both scofflaw and victim pay the price, both reverse and both pay the reversal fee. In all probability it is a losing battle for the scofflaw.

It does no matter the form of the ledgers as long as they are as secure as the reverse protocol is likely to be snookered. In other words, spend enough, measurable  money to chase the scofflaws. It is a measurable risk, in fact, we do it all the time.  Further, a contract like this is enforceable in civil court.
Further, this is the typical and fundamental swap, matching saps internal to two ledgers.  Most of our contract can be built using this method, and contract holders can specify, in the contract, a notary bot that does the watching automatically.

Just this one fundamental exchange, make this standard and use it across all sort of different debt and stock ledgers. It does what we always do in sandbox, find the leak and insert a trading pit to organize the queue. The trading pit made of traders wanting reversals vs miners charging for the effort. The entire thins is over the counter, except the ledger watching and miner fees. Sandbox, what would the world do without it.

Regulation as a dual ledger swap.

A regulation is the same form, the government wants the trader to execute a transfer on the tax ledger whenever the trader executes a transfer on some other ledger. For example, pay the government monopsony ATM fee, a half point if you are trading at the Fed. You are a regulated bank, your shareholders agree to the contract and it works the same. Pay the fee or the Fed will reverse your last transfer.

All these contract form are enforced by trusted agents that act as notaries on our behalf. This is all over the counter trading, bu it can be applied to high speed auto trading in the pits easily enough, with some lag.