If you want less liquidity, more extreme volatility, and less buyin, sure. But what you just described (absent a central bank; like Tether) is much how dictator

If you want less liquidity, more extreme volatility, and less buyin, sure. But what you just described (absent a central bank; like Tether) is much how dictators have tried to stabilize devaluing currencies. Derivatives/forex and black markets would develop quickly in any major currency that did this. AKA, nobody would logically accept your transaction until the time period or count ends, otherwise, there is a significant likelihood of them being wrong.