I don’t get it. The post author is clearly very excited, but the process itself is very boring: each work has a serial number. A company verifies serial number on request, as well as maintains owner contact details and handles the ownership transfers.
This is exactly how most ownership systems work - replace “di faced tenner” with “license plate”, and you will get a vehicle registry.
Establishing provenance has always been in interesting issue in the world of high art. I have a friend who's trying to tackle the issue in regards to digital art right now via the blockchain: https://www.kickstarter.com/projects/cyruslohrasbpour/zoma-e.... I suggested to him the other day that he should try to tie in a solution to tangible pieces as well.