The whole concept is bad, because the goals are paradoxical and mutually exclusive. Providing a way to instantaneously edit past transactions in a blockchain with the proper credentials sacrifices the only useful property that distinguishes blockchains from traditional databases (decentralized verification of/consensus about state).
The concept is bad because you don't want that property; you want a mutable data store with privileged and unprivileged access.
The concept is bad because you don't want that property; you want a mutable data store with privileged and unprivileged access.