Bank business

 From he point of view of the banking industry,the New Fed is a cost and benefit.  

The benefits of a free Fed under Due Process means a big expansion of the Swift market, but a currency competitive world. Existing banks will do well adapting their ATM and S/L systems using new tech.  They will collect a lot of correspondent bank fees.  Their first in position does not last. But banking market size grows. We can enforce Due Process on he distribution of bearer cash. Insure the no collusion clause down to the instruction cache.  This is gold to a banker, a way to minimize risk and expand transactions.

Swift likely works great, a hierarchical trusted ledger. Forget Open Banking, make a Swift Light for the leaves of the system. The banks get digital limit and time controls. Hand held, safe Swift, what's not to like?