I'm pretty sure the system you're describing is similar to Proof-of-Stake. In a PoS system, an owner in control of a portion of the monetary base (their "stake"

I'm pretty sure the system you're describing is similar to Proof-of-Stake. In a PoS system, an owner in control of a portion of the monetary base (their "stake") controls the private keys to that portion. Depending on the algorithm used, the keys they hold have a chance of belonging to a set of keys that have the ability to sign the next processed block. Some, I'm not sure if all, PoS algorithms use an additional PoW step that acts as a time-multiplier on whether your key is in the signing set, to ensure a block can always be found in the absence of many people staking, and to create a barrier to the speed of block emission. Additionally, R3CEV (pronounced like receive, the name isn't an acronym as far as I'm aware) is discussing a system where all banks in the consortium sign blocks in a round-robin fashion with trusted keys, negating the need for PoW at all. I have a feeling this will improve the efficiency of many things in the financial sector, but I doubt it will have as big of an impact as a decentralized and trustless system, like PoW and (possibly, if the wrinkles are ironed out) PoS.