I have heard of this concept before but not from this group inwhich I never heard of but by the energi coin. They are all about helping out humanity in disasters and high volatile situations around the world.
This project from what I skimmed over in the rather lengthy video presentation (nearly 30 minutes) of its concept, is just what seems to be what a ethereum smart contract already seems to do anyways.

Staking does only work if you have a rather large amount of capital so to be able to buy the collateral required to start out with so to stake those coins to receive a reward. Just look at how much you would need for the very first coin to start all this costs to begin staking. Using Dash would cost the staker over $200,000 to start staking for this coin.
Sure there are many other coins you can stake but you would not recoup your initial investment within the first year if at all.
Mining on the other hand, you have your equipment used to mine those coins with to sell on afterwards once you have finished with whatever it is you are mining at its peak.