On its own, probably not; web-of-trust is one of those things about PGP that was awesome on paper, but in practice ended up being a significant pain point.
A cryptographic ledger, on the other hand (think Namecoin), would probably be at least slightly more effective; it would effectively confer the same benefits (decentralized registration authority) without the logistical nightmare of a web-of-trust.
A cryptographic ledger, on the other hand (think Namecoin), would probably be at least slightly more effective; it would effectively confer the same benefits (decentralized registration authority) without the logistical nightmare of a web-of-trust.