This can be a really hard issue. In networking, if someone is editing a record, others are usually locked out or their edits are not confirmed.
When you have wide open editing with no central control, you have all kinds of issues.
It's really an issue of the data's usage.
Example: Right now I'm adding a record to this thread, if someone else adds to this same thread at nearly the same time, which post comes 1st? Answer: it really doesn't matter which one comes 1st.
I think you need to look at the specific usage of the data. You might look at having a 'confirm updates' and have a token on each record. If they can't gain control of the token, the can't confirm the updates.
Again it really depends on the usage.