A week ago I posted about a collection of patents and applications I have that are aimed at bringing some of the things that regular banking (supposedly) does better than blockchain and cryptocurrency – here in fact:
But, as someone asked, if a blockchain requires a notification from an authority to activate an account, and similarly allows accounts to be revoked, how can it still be open and provide self-sovereign identity?
The answer is surprisingly simple: allow individuals to make the announcements themselves, signed by their own private key. Let the individuals be the authorities.
That’s kind of what blockchain is meant to be about.