Crazy idea: an asset backed stablecoin that you can't redeem for dollars

Not saying wether this is a good idea or a bad idea. But 'burning' cash or deposits into a custodial non-lending account which is attested-to monthly to be holding 100% cash, and which you cannot withdraw from would represent the ultimate voluntary boat burning for those who are serious (and maybe stupid) about creating a money for the internet. Value is not 'locked' until there is no way out. why is this a good or bad idea?