I built this last year using OpenStack and Bitcoin technology. The project has a site at http://utter.io. It uses callbacks from Coinbase to ping the virtual appliances, which can be run by volunteers that have an OpenStack cluster running and don't mind having strangers launch instances on them. The use-cases for this are interesting and I'd suggest you treat it the same as any other early alpha software.
While working on an installer for OpenStack I came up with the idea of implementing federation with the blockchain. The general idea is that federation requires identity management, payments and some standard way of deploying code in a trustworthy way. The blockchain gives you most of that, although the storage bits are probably better served by something like Ethereum.
I went around pitching the idea a bit toward the end of the year and got pretty close to raising a round. Being a solo founder and at least a few years too early probably didn't help much. I was in the process of converting the site to use container technologies when I decided to join a German company who is writing a container stack: https://giantswarm.io/.
The whole shebang is Open Source and I'm happy to answer questions about it, if anyone has them: https://github.com/stackmonkey/