Continuing with my Eth-stablecoin link

 I assumed a Swift banker will execute a trustee position for a non-profit corporation. The corporation has one function, exchange a fiat dollar for an Eth dollar. The Swift banker keeps a protected Swift process which verifies each complete exchange on the Eth chain.

What happens? Have of the on chain transactions becomes Swift exchanges. The Eth chain becomes a high value dollar sandbox, crowding out most other cryptos from contracts. The hedge funds take it over, use it for automating their stuff, taking great advantage of proof of stake along with Eth dollars. They can keep most of their hedges secret, lower chain congestion, and the main chain eventually becomes a simple one to one portal, a reformat of a Swift dollar to a Eth dollar, nothing more, a wrapper. the entire Eth chain wasted on wrap and unwrap.

What is to stop this? it is extremely difficult to outlaw non-profit, bank managed neutral exchanges.  This is one of the main functions of Swift bankers, a kind of automated escrow executed by trusted accountants. They collect fees for this.

How can the Fed utilize its tax dollar monopoly?  Legalize the practice, let the Swift banks collect the fees. The government can use 'taxes apply' to any or a set of transactions as they want with no bias for or against Swift banks. The technology allows government liens and warrants, in a neutral fashion. That includes snooping at the trade boards and ledges with congestion priced entry and exit. Sandbox is completely neutral on the subject as long as it is Due Process.

What if the Swift bankers download the Eth v2.0 and simply offer contract verification services for tax dollars? They could easily implement a hierarchical vetting process, and each Swift bank running contracts for risk equalized Swift customers. We get automated 401k.

The Swift banks can run an automated virtual credit/deposit. Run sandbox S/L pits right off the Eth chain, using the same verification hierarchy. That allows structured queues onto and off of the Eth dollar wrapper. Automated S/L pits work very well with proof of stake contracts, a way to clear your bets in the balancing market, asynchronously. A market based provable exit from contacts.