Great idea. Here comes an idea on how to implement it: * Everybody (people and companies) trust their bank * All banks trust their central bank * All central b

Great idea. Here comes an idea on how to implement it: * Everybody (people and companies) trust their bank * All banks trust their central bank * All central banks trust SWIFT This is effectively a chain of trust. Therefore, piggy back on this existing trust relationship and let SWIFT be the global CA, and let them sign all central banks certificates, and let all central banks sign all their banks certs, and now finally, let all banks sign all their account holders (=people and companies) certs. This way, all people and companies only need the SWIFT root CA to verify the validity of a monetary decentralized transaction from a stranger, since the stranger can prove the issued IOU-note has been issued by a certain individual or company, since all banks have verified the identity of their customers (i.e KYC'ed them).