Nick Szabo  🔑

.@NickSzabo4 @el33th4xor @adam3us Yep, because banks are fundamentally a human UI for money. They have to. Aunt Tillie's security sucks.

@NickSzabo4 @el33th4xor @adam3us You will only eliminate ID when you eliminate humans. :) ID is an imperfect, human-human shortcut UI.

@jgarzik @el33th4xor @adam3us Bitcoin already eliminated need for IDs to issue & pay money. Block chain can do for many other txs also.

@NickSzabo4 @el33th4xor @adam3us That covers discrete money xfer but not secure storage for non-technical users.

@jgarzik @el33th4xor @adam3us A user-friendly hardware wallet doesn't require an ID.

@NickSzabo4 @el33th4xor @adam3us It does however require physical security of tiny, easily stolen/lost h/w device. People want help w/ sec.

@jgarzik @NickSzabo4 @el33th4xor @adam3us Your missing the bigger point: w/ crypto/blockchain ID and recovery is a separate layered service.

@jgarzik @NickSzabo4 @el33th4xor @adam3us But many bank/regulators see trustless systems w/o a *fundamental* need for ID to be unacceptable.