I don't think many people are getting the point of this article, although I admit it is a bit confusing. While it is true that the article talks about alternative DNS systems and WHOIS; what Paul really seems concerned about is the part of the WHOIS system used to look up who is currently allowed to use a given IP address range, and is responsible for activity originating from it.
The current authorities which run this part of the WHOIS system have rules and restrictions about how and why IP address blocks on the Internet can be assigned from one party to another. Among the things cited by the article which currently are not permitted are obtaining IP address for perceived future needs when you have not already exhausted what you have, or simply buying IP addresses for no use at all speculating they can be sold for more money later.
Some parties do not like these rules, and want to establish their own system for buying and selling IP addresses which is not subject to the rules currently in place. They could kind-of do this right now, but the transfer of ownership would not be recorded in the old system.
This is potentially a bad thing, as suppose someone attacks you from IP address 1.2.3.4. And for some reason, reverse DNS on that IP address fails to work. If there is more than one system tracking ownership of who currently has the right to use this IP address, how do you find the right administrator to contact? And what if someone updated their contact information or the fact the IP block had been sold in one system, but forgot to do so in another?