I agree with most of what you're saying, but think the Fed is the ideal route for such a role if we presume that at some point in the future, they will acquire an outsized amount of financial assets similar to what central banks in other developed countries facing stagflation have done (Bank of Japan); it then becomes trivial to issue a citizen's dividend from those assets to citizen accounts. I'd settle for a national government-operated bank if I had to.

See https://news.ycombinator.com/item?id=22594458 for logistics.