It's actually not a bad idea except for the gambling factor in boxing. Most people are bias.
I think k the only way to get accurate judging would be to have a control room with a bunch of judges or experts review the fight and get the exact number of points that each fighter should get. It would take longer for the results, but if enough people were reviewing you could get it done quick enough.
Somethings gotta change for boxing and the UFC. It's an archaic way to judge a fight especially with technology we have today that would work much better.