I hone using basswood strops; I have a felt wheel and use it occasionally, so this is more of a curiosity than my intended practice. I was changing belts on my one inch belt sander and had what I thought, at the time, was a minor epiphany.
If I put the belt on inside out, put honing compound on the fabric it should work as a power strop not unlike my felt wheel but with no radius to make things difficult. I tried it on a patch knife and a straight chisel and it sure seemed to work. Something tells me there must be something bad about this idea but at the moment I can’t think of what it might be.