A way to stop vandalism in Wikipedia?

A recent article (http://news.com.com/Can+German+engineering+fix+Wikiped...tml) describes a tool invented in Germany. If implemented, anyone can still edit the Wikipedia, but the edits must be approved by trusted community members. This way the always thorough Germans hope to avoid vandalism of Wikipedia articles. What do you fans think? I am afraid a filter like this might dissuade people from contributing.