New Blockchain technology! Your thoughts?

The University of Sydney is developing a new blockchain technology, and I am too big of a noob to be sharing my thoughts! So I am looking for your opinions!

This is the article: http://www.zdnet.com/article/university-of-sydney-builds-new-red-belly-blockchain-technology/

I have some questions regarding this technology, that is, would this new technology substitute the current blockchain and destroy current crypto$ (e.g. bitcoin), or it would enhance it?

We know technology moves fast, but this is ridiculous! Just found out about this blockchain tech, and there is already a new one on the horizon!

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