After reading the post just took a look at their website as well. They have pretty decent idea with several real world uses. Here is a list of them from the website:

1. Enterprise KYC
2. Insurance Record Keeping
3. Corporate Compliances
4. Verify Academic Certifications
5. Supply Chain Management
6. Trustless File Sharing
7. Government Regulations
8. Land Ownership Record Keeping
9. Employee Verification
10. Health Record Manifest in Judiciary

I think the idea is not very new but to me it really seems that they are the first ones to be implementing it on the blockchain to create a unique secure and trustless system.