Is the technology of encryption assets wallet with encryption of mnemonic phrases promising?

A guy I know has recently "gone crazy"; he says he invented a system that can encrypt the mnemonic phrase of cryptocurrency wallets and has already applied for a patent. He is very excited.

The wallet we are using now means that once the mnemonic phrase is exposed, it equates to asset loss. Whether it has been seen by others or recorded by a phone or computer screen, as long as it is exposed, it means loss. His system has implemented encryption on the mnemonic phrase, so even if someone obtains the mnemonic phrase, without the mnemonic phrase password, it is still impossible to transfer the assets.

For example, there are two passwords, one is the login password and the other is the payment password. If someone steals your device or finds your phone, they can indeed see your content and try to use your transfer, but if they do not have the payment password, they still cannot steal your funds.

According to him, having this set of things will greatly reduce the possibility of encryption assets being stolen, unless both the mnemonic phrase and the mnemonic phrase password are lost.

Are there any friends who understand wallet technology? What do you think of this system/technology?