Earlier quoted context omitted.
Are you thinking of HP’s Dynamo? http://cseweb.ucsd.edu/classes/sp00/cse231/dynamopldi.pdf
It was almost definitely HP Dynamo. (Edit: if you combine ideas from HP Dynamo, SafeTSA JIT-optimized bytecode, and IBM's AS/400's TIMI/Technology Independent Machine Interface, you get a better version of the current Android Run Time for bytecode-distributed apps that compile ahead of time to native code and self-optimize at runtime based on low-overhead profiling.) The really nice thing about Dynamo was that it was…
Who would benefit from this most? Is the benefit so diffuse it would almost have to be an open-source project without funding? Or could there be parties that see enough of an advantage to fund this?
I guess you could try and get a certain instruction set vendor (probably RISC-V, maybe ARM or x86 based) to have this as a boost for their chips. I guess the "functions are pointers to blocks" compilation could benefit from hardware acceleration.