Yes I agree this is good but for now as for long term there should be some archival strategy else people will carry burden of all past transactions that hardly matters to them.
If the history of past transactions does not matter to them, then they should be running a SPV wallet, or a pruned wallet. If you are running a full node, then the history of all past transactions DOES matter to you.
As of now the concept of block chain relies on keeping no track of individual assets but aggregation from all transactions till date to come up the total holdings of any coin address.
Correct. This is why it is decentralized and trustless. Have you invented a new solution for a decentralized and trustless peer-to-peer currency? Please explain in detail exactly how your new invention would work.