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.
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.
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