Could it work in the sense of being implementable? Yes. With intelligent identity checking systems and availability of high speed internet a reliable system could be implemented.
Would it work well? No. Most people are too stupid to understand complex issues. Hell, they actively vote against their own interest because of what they hear on the TV.
Now, if we created a system that would require:
1. IQ testing.
2. Increased the age requirement for voters to 25/30.
3. Familiarising yourself with the act being voted on, evidenced by a quiz.
Then it would work and allow us to create the best country in the world.