This is something I can get behind

Did you read about a concept of distributed oracles?

https://github.com/orisi/wiki/wiki/Orisi-White-Paper

and the source code repo:

http://github.com/orisi/orisi

While it's quite different from what you're proposing, distributed oracles also allow for handling banking/trading offchain, using multisig accounts. It would definitely be worth for you to see what's being done in this area

Is it compatible with the open assets standard for colored coins?