The whole idea is riddled with problems just waiting to happen. How will they know I live where I say I live? Are they going to verify that?
What's stopping me registering the property of a drone operator so they can't fly in their own property?
What's stopping me entering my address, and all of my neighbours?
If a drone still flies over my property, who do I sue?
If the last owner of my house made it a no-fly zone, but I want to fly drones in my back yard, how do I remove my house from the list?
What's stopping me asking to remove other peoples' house from the list?
Does having a drone flying one foot outside of my property boundary really differ from a drone flying one foot inside my property boundary? It can still see over my property.