This reminds me of temporal database [1] concepts. I've been thinking that besides the hashing aspect of it, otherwise, it's actually basically the same as a temporal database, isn't it?
I do like that they referred to it as a database rather than blockchain, as it more accurately captures the fact that it is a data store and I always felt like blockchain was more a reference to the way that the data is cryptographically linked together in the data store.
I'm no expert, but there definitely are similarities. You could design a temporal table where a change in a customer's email always generates a new row versus an update, or you could just be capturing a snapshot of time-series data at a point in time. A ledger database is much more like double-entry bookkeeping, or git, where you are capturing each change.
I do like that they referred to it as a database rather than blockchain, as it more accurately captures the fact that it is a data store and I always felt like blockchain was more a reference to the way that the data is cryptographically linked together in the data store.
[1] https://en.wikipedia.org/wiki/Temporal_database