Far-fetched as it sounds, that type of thing is almost certainly possible. You could oil the heck out of the wooden hull, let it dry and then fill the cracks between planks and maybe even the tack head dents with something like clay to temporarily plug them and later be washed out. Then you apply a couple coats of PVA mold release (water-based) or maybe even shrink-wrap plastic, let that dry and fiberglass. A couple layers of six-ounce glass cloth, "pre-delaminated" (as it were) would be reasonably tough and abrasion resistant and could be cut off later. I have not tried it, have no real desire or need to try it, and can't exactly say there might be any clear advantage to it compared to other more common suspended coverings, but I'll bet it could be done. Substitute a layer or two of something like Kevlar and it might be a different story. It clearly has greater tensile strength and abrasion resistance than cotton canvas and filler.