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https://www.youtube.com/watch?v=aP0Y1uAA-2Y

Stanford Seminar: Beyond Floating Point: Next Generation Computer Arithmetic

Sounds pretty solid to me. The unintended consequence if this were widely adopted as 'plug compatible' for IEEE floats, would be that data dumps which contained binary floats would be aliased. IEEE floats are so ubiquitous, everyone treats them as if they were as god-given as integers. It's dangerous to change them.