2 things strike me right out of the box....
WHO is PO8? Wanna bet in some form, SOMEONE(s)?? ...in the Bahamian government is an end recipient the blockchain?
And this WILL imo ....formulate a policy of piracy. Users will add information to a centralized database, then engage in misunderstood, ill-informed, and downright criminal activity... only to find they can't receive a ROI ( based on legally permitted exploration, discovery and recovery under current Bahamian laws), while the end user(s)

? will get the spoils in the end.
If this IS for real...won't be long before peeps will be getting locked up in the Bahamas, and we as Treasure salvor's will again look like we've just gone 15 rounds with the Kraken in the public eye....
JMO...I REALLY hope...I am wrong.
Just my opinion...I don't even pretend to understand blockchain technology, but if it smell's like BS, looks like BS, and TASTES..like BS...it's probably B.S.