There's little or nothing original that's being presented here. The Phantom people claim originality to the idea of orthogonal persistence, but they are flat-out wrong:

Q: File system?

A: Nope. Sorry. Nobody needs files in Phantom. All the operating system state is saved across shutdowns. Phantom is the only global persistent OS in the world, AFAIK. All the state of all the objects is saved. Even power failure is not a problem, because of the unique Phantom's ability to store frequently its complete state on the disk.

To illustrate the utility and awesomeness of persistence, there's a famous story about KeyKOS, an earlier OS that embraced this notion:

At the 1990 uniforum vendor exhibition, key logic, inc. found that their booth was next to the novell booth. Novell, it seems, had been bragging in their advertisements about their recovery speed. Being basically neighborly folks, the key logic team suggested the following friendly challenge to the novell exhibitionists: let's both pull the plugs, and see who is up and running first.

Now one thing Novell is not is stupid. They refused.

Somehow, the story of the challenge got around the exhibition floor, and a crowd assembled. Perhaps it was gremlins. Never eager to pass up an opportunity, the keykos staff happily spent the next hour kicking their plug out of the wall. Each time, the system would come back within 30 seconds (15 of which were spent in the bios prom, which was embarassing, but not really key logic's fault). Each time key logic did this, more of the audience would give novell a dubious look.

Eventually, the novell folks couldn't take it anymore, and gritting their teeth they carefully turned the power off on their machine, hoping that nothing would go wrong. As you might expect, the machine successfully stopped running. Very reliable.

Having successfully stopped their machine, novell crossed their fingers and turned the machine back on. 40 minutes later, they were still checking their file systems. Not a single useful program had been started.

Figuring they probably had made their point, and not wanting to cause undeserved embarassment, the keykos folks stopped pulling the plug after five or six recoveries.

The notion of a language-based OS exploiting the semantics of pointerless/"safe" programming languages in order to isolate processes, rather than the norm of executing untrusted native machine code in different address spaces, is nothing new either.

If these ideas shift your bits, take a look at some real, interesting work done by real people that have more clue than fashion:

• Coyotos, an OS whose orthogonal persistence falls out of the capability model of security that they embrace. Coyotos is written in BitC, a purpose-built high-level programming language with special focus on formal semantics and reasoning.
• Singularity, a language-based OS in development by none other than Microsoft Research. (Certainly the most interesting Microsoft project that I am aware of.) Singularity exploits language semantics to isolate processes.
• TUNES, a collective wet-dream of what the OS, programming language, and generally computing system of tomorrow should look like. With all due respect towards the insurmountable difficulty and endless complexity of a task like this, it must be said that TUNES is just vaporware.

The brilliant thing about anarchocapitalism is that if I dislike a company, I can choose to not do business with them. With the current system, I can wait until election time, try writing letters, and waste a lot of time drumming up support and persuading people. Or expatriate. With everything that I don't like about the US, that would be a full-time job to do properly.

I believe a private system is more fluid to change than a bureaucratic one.