I think this would require a new set of assumptions, a new social contract and the government would have to write new laws to accommodate it. Their would probably be a vigilant "free market-ism" backlash that would crush it all before it even got off the ground. This is assuming the press wouldn't ignore it all together and people are remotely educated enough to understand this "tech stuff" to care. I think their would need to be an extremely thought out tangible template that gets enough people on the side of the idea that it can persuade a large chunk of the "big business" eco-system that it's for the better and there's something in it for them. Otherwise, It will probably remain just that - an idea.
I am quite interested to hear comments and feedback about these ideas and the four parts of the protocol outlined in the post.