Another issue I find, when pondering such a system, is how one would validate their identity without having submitted any identifying information. This could potentially lead to issues of making it easy to steal money from accounts, since the "owners" might not be able to convincingly prove it their own. Remembering that even the "anonymous" Swiss Banks store customer information, would it be a partial solution to have minimal records on file, but located on servers outside the country? (I am only marginally familiar with international law, but I imagine it would be at least somewhat more difficult for the US government to obtain access to such records)

-- JonathanBonilla - 27 Feb 2009