Ideally, the voting could be more than just "+1/-1" as well, potentially with a couple different axes, so that I could, for instance, say that I think a paper is important to the field, but likely wrong. Just because a paper is controversial doesn't mean I don't want it to be discussed (for instance, if it introduces a new computational technique, but the input data is flawed somehow).
http://usenix.com/publications/library/proceedings/sec98/ful...
The trouble is that we still haven't managed to do this well in the technology world. And some of us believe that we need to go back to some level of curation.
I'd love to see a system as described that actually works. But until we (the tech world) manage to figure out a system that works, I'm not convinced that scientific publishing will fare any differently.
Unlike Reddit, Slashdot and HN that do not encourage personal profiles. Do you even remember my name? What about other HNers besides pg? Why do you read their posts anyway? They work because it's a form of almost pure democracy being applied and have the same problems of it eg tyranny of the majority.
What the scientific model can do is a multitude of above; institution API confirming credentials (Referral), history (paths, did this person do other reviews?), etc. Cheap and still effective peer-review. I'm not sure which kind of government type applies to my suggestion above, but there are many forms of government they can apply.
More: https://secure.wikimedia.org/wikipedia/en/wiki/List_of_forms...
I see an immediate problem there. There are magnitudes more people _outside_ any given area of expertise than inside. Even small votes add up.