Saturday, March 15, 2014

Onenameio - a new ID layer for the internet.

Onenameio /onename is it's name, described as "the decentralized identity system built on Bitcoin". Yeah, already sounds bad, doesn't it? But wait, there's more. The introduction states (in part):

"Nobody owns or controls OneName and users are in complete control of their data.

With Bitcoin, private keys provide us with complete control over our
funds - nobody can move it without our permission. In the same way,
OneName private keys provide us with complete control over our
identities - no individual or entity can usurp our usernames or modify
our public data or control the release of our private data without our

 Better tell that to the folks who stored their wealth on Mt Gox!

And this suffers another problem in common with Bitcoin - when it goes bad (and it will) who is responsible? Even without a bad event, who is vouching for my identity? Or any of the values associated with it? Why should I believe your self-assertion even if it is signed?

This one is going nowhere.

Comments: Post a Comment

© 2003-2006 The Virtual Quill, All Rights Reserved


[Powered by Blogger]