Don't you just have some kind of actor responding to events related to an address?
Yes, inspired by Mastercoin.
Is this the same thing what Electreum proposal is saying?
I'm afraid I'm not familiar with the proposal, could you please link me to it?
Anyhow, based on number of reviews I received, I plan to make some minor improvements to the cointrace protocol and finalize it. I'll also create a tutorial on how anyone can use it just today with no need for a dedicated client application (unlike CC or Mastercoin).