It sounds like what you are describing already exists as Ripple (XRP), which issues tokens to represent fiat and other assets while still being on a distributed ledger.
I understand there might be a bit of a confusion, but what I'm thinking of is not Ripple. While it will represent assets on a distributed ledger, it involves much more than that.
still sounds like Ripple. Can you PM me a little more info? I might be interested in a little way.