There are certain special cases for which homomorphic cryptography should would acceptably. Blinded signatures are one example of something essentially a special case of it.
IMO, the right way to do hostproof is some combination of trusted computing (HSMs, TXT, etc.), protocols which can prove things clearly but not keep them confidential (like bitcoin -- something which used certifications to prove source code hasn't been altered and compiles to the binary you're talking to would be a great leap forward), special-cases of homomorphic crypto, and client side execution (either all the time, or for some statistically significant subset of operations, to catch cheaters eventually).
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There are certain special cases for which homomorphic cryptography should would acceptably. Blinded signatures are one example of something essentially a special case of it.
IMO, the right way to do hostproof is some combination of trusted computing (HSMs, TXT, etc.), protocols which can prove things clearly but not keep them confidential (like bitcoin -- something which used certifications to prove source code hasn't been altered and compiles to the binary you're talking to would be a great leap forward), special-cases of homomorphic crypto, and client side execution (either all the time, or for some statistically significant subset of operations, to catch cheaters eventually).