The Fed can create unlimited money out of nowhere and doesn't have to answer questions about it from anybody. I don't think they dream is a transparent blockchain and money supply limited by an algorithm.
They don't want to be seen as "not having to answer to anyone" , so they would be going the blockchain rule, i.e. semi-accountability , i.e. stealing some of bitcoin's "decentralized" fame.
The whole point of having a national currency is that the money administrators answer to Congress, not the businesses who borrow and lend money. "Decentralization" means taking power away from Congress and giving it to Goldman Sachs and the other big banks.
Moreover, the currency that the Fed issues is not technically a "national currency", its "Federal Reserve Notes", that is a debt instrument which is theoretically backed by "US Dollars". Where are these US Dollars?..and more importantly how do we get some?
It is not "owned" except in a weird metaphorical sense, and moreover, big banks are obligated to own an exact amount of shares - no more and no less, and they may not sell them - by act of Congress. If you scroll a little bit up from your link: "the 'ownership" of the Reserve Banks by the commercial banks is symbolic; they do not exercise the proprietary control associated with the concept of ownership nor share, beyond the statutory dividend, in Reserve Bank 'profits.'"
A "US Dollar" is a unit of measurement; a "Federal Reserve Note" is a physical object. You can no more own a US dollar than you can own an acre or a joule, but you can certainly own land or a battery. Casting doubt on the US dollar because you can't touch it makes as much sense as casting doubt on meters or Bitcoins or Goldman Sachs because you can't touch them either. They're all social constructs, but social constructs are quite real for anyone participating in the society that constructed them.