This is also Peerchemist’s 1st live interview with Peercoin and hrobeer’s 2nd. Thanks to both of them for helping to spread awareness of PeerAssets!
This has now been posted on social media…
Do you think the Alias system of PeerAssets could be used by financial businesses to link and prove identity?
At the moment if you set up a business bank account with a mainstream bank you will have to fill out an ‘account operating authority’ form. On this form you define who has control over different functions of the account. For example, the business owners could have access to all account functionality, whereas a company secretary might have check signing authority and the ability to send money between internal accounts.
On this ‘account operating authority’ form each person signs next to their name and their signature is used as the proof of identity.
This seems a little bit archaic as signatures don’t seem to be a good way of proving someones identity.
Could PeerAssets Alias system help modernize the ‘account operating authority’ process?
Awesome idea. This way, entities can be trusted and develop reputation directly on the blockchain. It provides an extra check that can be linked to many other social checks, like social media or names or identification numbers. Any publicly known string assigned to an entity can be attached to a private key, then connection between the entity and the private key can be proven in a bunch of ways that are recursively defined in the alias assignment (i.e. alias a twitter account then tweet the alias).
I could see people using this across DAC’s too, for example having a role or a job be an alias that can be passed from occupant to occupant. It would do very interesting things for transparency, which is critical in DAOs ruled by consensus.
Yes, this can be used.
Actually what you described goes hand in hand with how I imagined a DAC operating on PeerAssets platform. Where “roles” (secretary, multisig operator, …) are assigned to addresses and their signature of specific messages is interpreted as valid as they are elected authority on the matter.
You will see this concept soon when ETF fund handling DAC (codenamed QGM for now) is presented in next 30-40 days.
Beyond our internal use cases for DACs and their organization I am confided that blockchain based tokens and accompanying digital signatures can as well be used to modernize business law practices.