User:Mrmadden

I'm an entrepreneur working on a distributed id verification protocol that sits on top of the bitcoin network. The idea is to meet global regulatory requirements for money transmission, but separate the "KYC" or "CIP" validation event from the participant's transactions through the use of stealth addresses, or HD wallets that do not recycle addresses. The protocol also serves as a decentralized personal data encryption and storage service.

I'm trying to get feedback from informed members of the community about the approach that I'm documenting in a white paper and how it could be improved. I've applied here before, but I think my application must have gone stale as this was six months ago.

I'm an ex-Western Union employee who worked there for over 15 years, so I'm trying to help out by letting the bitcoin protocol get in front of the regulatory pressures and build a system that complies, but doesn't open the door for privacy violations, create a massive attack surface for hackers, tempt intelligence agencies with easy access to personal information, etc. Given my tenure at WU, I'm in a unique position to help in this area. There aren't many people who have my understanding of global money transfer regulation and how to satisfy it in an elegant manner.

Thanks for considering my application.