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This can work, as soon as it is accepted as a standard. They should have done it a while ago.
Its not too complicated either.
It makes it possible to verify that the email came from the sender domain. This way, emails with forged headers will be dropped immediately.
Also it makes it easy to keep track of spam complaints on a per domain basis, and ban the domains that have a high spam ratio.
Spammers won't get around this, or it will be very costly to send spam because you have to keep registering so many domains.
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