I'm unsure if this yields any computational benefits over classic multiplication.

"In real arithmetic, multiplication may be faster for the following reason: When two real numbers are multiplied, the mantissae are multiplied together and the exponents are added, and these operations can be carried out in parallel. When two real numbers are added, first the mantissa of the smaller number must be shifted so that the exponents match (a process termed normalisation). Then the mantissae must be added. The result of the addition may overflow the original word length by 1 bit, or it may generate any number of leading zeros. Therefore the result must be normalised again. There are therefore 3 steps and they must be done in series." - https://www.researchgate.net/post/Is-multiplication-slower-t...