This sounds like a very interesting idea.
I'll be sure to read through the white paper soon and get back with my thoughts.
Have you guys heard of MediaGoblin, who are/were more-or-less wanting to make something similar (but I believe development ceased or is very slow at this time at least)?
I do not know about media goblin, but i heard PirateBay was working on something similar (that is if they are still free), i believe they were planing on launching their browser for their torrent media?