I guess that is close to making sense, but as usual there are simpler alternatives. For example, the DNS. It already is a distributed global registry of reserved names that can be traded. The difference is more in political outlook than technical capability.
There could be simpler solutions even without a big bad central authority. Nodes participating in the federated network could build consensus among themselves (after all, each node has to voluntarily honor the database, whether that database is on the blockchain or not). The identity ownership can be controlled via knowledge of the private key. Just like you can currently sell your Twitter or Insta username by selling the password.
There could be simpler solutions even without a big bad central authority. Nodes participating in the federated network could build consensus among themselves (after all, each node has to voluntarily honor the database, whether that database is on the blockchain or not). The identity ownership can be controlled via knowledge of the private key. Just like you can currently sell your Twitter or Insta username by selling the password.