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by MereInterest
1100 days ago
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Why would losing your bank card mean losing your money? The bank card would be there to establish identity when performing a transaction. Going to a branch in person with government-issued photo id would be the way to establish identity when generating a bank card. It’s a pain to do, but it only needs to be done for a new account or to revoke/replace a card. By analogy, the cryptographic key on the bank card is a cross between a session token and a private key. Like a private key, it is never directly exposed for verification. Like a session token, it can be replaced. |
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You need to bootstrap it all somehow. All you've done is move the authentication problem to how you get a government id.
Suppose your house burns down and you're standing on your lawn in your pajamas with no identity documents of any kind. What now?