Similar project such as http://www.omnilayer.org/ and https://www.rsk.co/ already exist, even though they work differently.
I'm just thinking this is the correct way to do it. For most applications trust to other party is essential. With these private blockchains audit of the ledger is being done by computers (any validation program can be written. smart/non-smart
). Probably only one proof-of-work chain is affordable. We better capitalize correctly.For example all ICO's do have an issuer. In other words ICO's have owner. So why not use a private blockchain.