Volumetric Billboards useful for UE4?


I have seen some interesting things about Volumetric Billboards which I heard nothing about until yesterday. Information about it here.

It certrainly looks quite interesting and I find the results also quite good when considering that this paper was released in 2009 and performed with an GeForce 8800 GTS and 1GB of RAM. For Objects in a Distance this would reduce the “Popping” of Objects quite a lot (complex ones that is). I have no idea what performance inpact this would have on modern PC’s.

With that System we could have High-Quality Billboards of very complex Models without popping and thats something I would be very interested in.
Would something like this be possible and useful for UE4?

UE4 already has something like this:

Ah cool, didn’t knew that, thanks!