Oklahoma Bill Would Create Working Relationship with the Texas Bullion Depository
(blog.tenthamendmentcenter.com)
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This really only works if people stop paying taxes with Federal Reserve notes. For as long as people must use FRNs to live in society it will remain the default currency.
From the article...
There is already competition in the monetary system. It really doesn't work (isn't widely adopted) because people need to pay taxes in FRNs.
For as long as people believe that they must pay taxes in FRNs such a system can't work, not because it's impossible, but because it won't be adopted by the majority. It also won't be adopted because large stores (where almost all of commerce is) won't stop accepting FRNs, they are unlikely to accept an "alternate currency" because they too have to pay taxes in FRNs, people who work for large companies are paid in FRNs, those companies who pay people have to pay their taxes in FRNs, etc.
The only possible way to make this transition, is to burn the current system down. It must fail first.
At best such a move may lead to the destruction of the current system, simply by letting people know they can have a stable currency once the SHTF, but this bringing "competition" by itself will not be sufficient to make the change. The shit must hit the fan first. The system must burn down first. Having alternatives in place will only help the transition after the fact. It won't be the cause of the shift.