Some webmasters will only link to people who they know, and with whom they deal directly, so they won't be interested in linking to sites selected by some sort of algorithm. But your idea may have a following among those who do things a different way. In fact it's similar to other services tried before and some operating now.
One thing you may want to consider is the actual value of an incoming link. Just getting a lot of links from others, even if they're verified to not be cheaters, isn't really some magical key to success.
So I wish you luck with your idea, but I did want to caution you that the sites you (and your users) would really want in your service are very unlikely to sign up.
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"If you're happy and you know it, think again." -- Guru Pitka
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