A rather interesting innovation. I'm quite sure my generation would find this quite acceptable.
For me personally, I would definitely consider this option of 'burial' over ashes in an urn as it is more compact and cleaner. I would not wear the jewellery piece though (unless I decided to live permanently on the move). It would more likely sit in a drawer or on a mantelpiece as a beautiful display piece.
Then again, if I had land, why not convert the person's remains into a tree (when the concept is accepted by law, that is?)? http://www.earthporm.com/bye-bye-coffins-these-organic-burial-pods-turn-your-loved-ones-into-trees/