Blockchain with Proof of Elapsed Time

At that point, why let them sleep at all? Just pull your random "lottery ticket numbers" and the one with the lowest wins. Besides, how do we pick the numbers? Is there a central authority here (which would defeat the entire point of having a blockchain in the first place), or do we just trust the nodes themselves to fairly role a dice?

How do we verify that another system fairly rolled their dice in the first place or actually waited for that long? Is this the point where Intel starts trying to sell me SGX?

Is there an actual paper behind this, that explains the concept in a way that doesn't sound ridiculous? From the fact that the website has descriptive links to big words like "algorithm", I take it that the intended audience isn't the technical kind.