On the main eathrum blockchain, yes I totally agree. But what I proposed was a totally separate eathrum based blockchain. In Providing credit to the Bitcoin economy through Credit Coin I suggest that it be backed by bitcoin. And in Asset Control Coin (ACC) I also suggest a separate eathrum blockchain and suggest that Credit Coin could be built on ACC's blockchain. Also ACC would be completely non-monetary, its sole use would be to create NFT's for tracking assets.

My goal with these ideas is to provide services, while not overloading the Bitcoin blockchain.