“he suggests that states create their own digital currencies – tied to a gold reserve”
Where does he think states are going to suddenly obtain gold reserves?
Remember, they cannot just print worthless paper money to buy that gold... and they cannot engage in diplomatic negotiations with other countries to obtain gold either.
(b) On receiving payment for a purchase of the digital currency together with any fee charged under Section 404A.0058, the comptroller shall:
(1) using the money received from the purchaser, buy a fractional number of troy ounces of gold equal to the number of units of the digital currency issued to the purchaser under Subdivision (2); and
(2) issue to the purchaser a number of units of the digital currency equal to the amount of gold that the comptroller purchases with the money received from the purchaser.
(b) On receiving payment for a purchase of the digital currency together with any fee charged under Section 404A.0058, the comptroller shall:
(1) using the money received from the purchaser, buy a fractional number of troy ounces of gold equal to the number of units of the digital currency issued to the purchaser under Subdivision (2); and
(2) issue to the purchaser a number of units of the digital currency equal to the amount of gold that the comptroller purchases with the money received from the purchaser.