But aren't they still transferable? Couldn't I set up easy-physician-ce.com and start hawking these things? People checking the license would need to walk back

But aren't they still transferable? Couldn't I set up easy-physician-ce.com and start hawking these things? People checking the license would need to walk back up the transaction chain to ensure that Dr Bob really did receive his directly from the issuing authority, which.... as another poster said, we're probably better off just having the authority sign a key that says that they're giving it to Dr Bob directly.