[Bitcoin-development] BIP: Custodial Identities

21 e14 21xe14 at gmail.com
Wed Aug 20 02:23:34 UTC 2014

As suggested before submitting a BIP, I am sending this to the mailing list.

Bitcoin is often described as “the currency of the Internet”, “the TCP/IP
of money”, or simply “the Internet of Money”. What is needed is an optional
identity layer — a Bitcoin Assigned Custodial Identities Authority, much
like the Internet Assigned Numbers Authority, to oversee global Custodial
Identity allocation. Such an authority delegates Custodial Identity Spaces
to Regional Bitcoin Custodial Identity Registries, much like the RIRs
(Regional Internet Registries) managing the allocation of Internet number

A Bitcoin Custodial Identity (BCI) account address would consist of a
Custodial Identifier allocated by the BACIA/RBCIRs (much like a bank’s
routing number), and an account address (much like an account number).
Bitcoin Custodial Identities allow dispute resolution in the legal system
for transactions in the BCI address space. Free market would drive and
determine the demand for custodial accounts. P2PKH users not affected.

Feedback is appreciated.
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