As always, anyone will be able to make article edits. But it would take someone who has been around Wikipedia for some yet-to-be-determined period of time--and who, therefore, has passed a threshold of trustworthiness--to make the edits live on the public site. If someone vandalizes an article, the edits would not be approved.
Just blows you away, doesn't it?
Don't get me wrong. I like Wikipedia a lot. I've contributed to several articles -- substantially in some cases. This, however, is only an innovation in techology if we pretend that the year is 1986. That, I think, is about when I first heard the term "workflow" applied to computer-based collaborative processes. We'd have to pretend to go back farther -- centuries farther -- to consider it an innovation in the content generation process.