@girlfawkesy
First problem: how do you avoid a 51% attack?
I think this is where something like colored coins shows it's value - using the strength of the already well established Bitcoin network.
Edit: It might be possible to avoid Blockchain manipulation be keeping the difficulty low, and some how privately mine it in house. But, that's not quite decentralized, is it.
to avoid a 51% attack simply make the coin merge-mined with BTC no?
similar to namecoin, freicoin....then it doesnt matter what the hash rate is or if anyone even mines it at all. It doesnt even have to be sha-256 or scrypt, some form of proof of stake similar to PPC could be implemented