I'm assuming this is just one of many different efforts to cryptographically protect gems, right? It's phrased as if this was the de facto standard way to do it, but this is the first I've heard of it. Or does waxseal just automate something RubyGems already does?
If rubygems would sign the gems themselves it would already be an improvement (and rubygems the library check for it). It would make distribution of the gems to third-party for mirroring or over http possible.