It's absurd how HN users in general are so dismissive of anything cryptocurrency.
It's quite reasonable actually, given the prevalence of not just hype, but frequently delusional / just plain rambling and incoherent hype surrounding it -- not to mention blatant fraud and manipulation aimed specifically at unsophisticated users.
And the skivviness of many people involved in it.
That said, the OP presents one of the more thoughtful proposals I've read recently, and may belong to the 5 percent or so of blockchain applications that just might have a useful application. With emphasis on "just might".
We'll see.