You are only providing BGP origin validation and not path validation. Does that make the system less valuable?
BGP origin validation will already cover the bulk of the problems we see today. Many of the BGP hijacks that occur are accidental mis-originations, and the current implementation has the ability to protect against them.
Standards for BGP path validation are currently being developed in the IETF. They build on the foundation that has been laid by the current BGP origin validation implementation.