I remember some time ago when I was reading a book called "Samurai Chess" by Michael J. Gelb and Raymond Keene that there was a listing provided for an impromptu belt system within chess ... based on the rating system (ELO).

I LOVE this idea. However, there are many problems I can see with this kind of system ... for example ... does a person lose their belt if their rating falls? The idea put forward in the book is more or less fan-service (a term you should become familiar with if you hope to improve in chess).
However, I believe there is the basis for such a belt system to be used by chess schools to encourage participation and involvement. I'm now going to retire to my laboratory and come up with some clever marketting and see what comes of the idea.