I see uses for it but the sarcastic doober in me keeps thinking "good job, you found a way to make your program slower". If they make a breakthrough going in reverse (trading our ample ram & SSD space for oodles of time) let me know..!
Indeed, I don't see a "real-life" application for this yet, but I'm also not much of a visionary. I think it's fascinating from a pure math/computer science point of view regardless.
the process looks a great deal like what I have frequently done to consolidate conditional statements. But that is more or less a known process, so ??? if its an application of the same principles. The only 'real use' I can see is for some hypothetical near zero memory chip to run a program. Which may mean there are some serious applications in games like minecraft where simple switches and lights and stuff are sometimes made into circuits by players....