It seems interesting. But I don't know if the concept will work - have to read a bit more about it though.

In fact, I think a effectively deflationary coin like bitcoin (which in strict terms is also inflationary) is a good idea. This is contrarian to the current fiat system. And I think we have already seen that such an inflationary system does not work well longer term... I mean everybody will spend some of his wealth at a certain point of monetary value in relation to his needs. A deflationary system mostly prevents unneccessary spending which saves resources but will not prevent economic prosperity. Artificially induced demand (via inflation) is not healthy.