This is what I've been proposing for a long time. Basically it has the security, pseudonymity, and protection from counterfeiting of a cryptocurrency, but no speculative value because it is fiat and issued by a state. Basically it's a bitcoin premined coin backed by the treasury debt. It's also an ideal platform for a PoS coin.

Folks would trade bitcoins with other cryptofiat coin's. Governments would have the best of both worlds and bitcoin becomes the defacto reserve currency.