Oh no - one billion credits! In community, where certain people hold five-to-eight billions, in community where we can afford buying codes for such price as 1 billion per 2 guns, you imply that factions, which is actually the group of people, can't afford to spend money to get those changes. Every active enough faction is able to make one billion in less than day, probably if you can't afford it, then your faction just doesn't deserve to influence anything in the first place. The only one exception is actually nomad factions.
Though, I should admit, that 1 billion is a bit too much, probably nerfing price to 500 millions won't hurt, but still that's far from being the main issue here. I actually like this proposed system, because all of you always cried and wanted your RP to influence the story globally, to influence something in game, you wanted your characters to leave footprint here. To certain degree official factions could do it, but it was made "behind curtains", but this system is far from being effective.
Yes, it adds more paper work, but at the same time it adds transparency, it adds order and strict protocol on how request any changes. Though I still want to see how this system will work, before I actually say anything more specific on this.
EDIT: Moreover, it has been stated, that you are recommended to consult with development team, before flying a request or even commencing to RP:
It is strongly recommended that players consult with the Development Team before proceeding with roleplay that the player intends to request canonization for. The Development Team does not accept any responsibility for wasted time and effort should players decide proceed with extensive, time consuming, ambitious and/or radical roleplay that is subsequently rejected because they did not consult with Development initially to see if it was possible in the first place.
So you can ensure, that you have a chance to get your request accepted.
It's also stated, that you can ask for updates once per week. Then I have a question for development team - will you take an obligation to provide those updates?