No, it's not possible to create such a system without fatally compromising safety. Take Bitcoin cold storage: People use offline storage and specialized hardwa

No, it's not possible to create such a system without fatally compromising safety. Take Bitcoin cold storage: People use offline storage and specialized hardware wallets to store their keys more safely. Now imagine there were some privileged keys that would allow the holder to just take anyone and everyone's bitcoins. It doesn't matter how geographically distributed it is, how elaborate the key ceremonies and oversight is. The system could never be trusted if such a backdoor existed.