Hi,

Yes, getting a login to access the 'governmental' database is somewhat similar to the procedure of applying for a new credit card.

With the difference that if someone with bad intentions would be able to compromise your login at this database, they would 'only' see your public addresses but they would not be able to retrieve any funds from them.


This would be the scenario in the end:

- Your local 'bank': in possession of your username (some random numbers) only (you'd have to change the initial password at first database login).

- The 'governmental' database where registered addresses are stored and the people operating it: can only see this random username linked to public addresses, no personally identifiable information would be stored there.


The tool that would be used for registering addresses, could be an (offline) open source application.


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As for my position:
Actually I am quite the rebel myself, but also a realist.

I think that for bitcoin to go mainstream, this or similar kind of system would be necessary.


PS: Anyway, those are my thoughts and I'll be happy being wrong.