I don't think anyone is saying that. You will just need to be authenticated before giving any commands to the bank. Maybe some type of TOTP that you can use over the phone or in person.

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applfanboysbgon 3 hours ago | parent [-]

That is the exact problem. You have identification tied to your device. Your device is lost or stolen. Now you can't access your bank account. Human support can help you out by finding flexible ways to ascertain your identity. This is the angle social engineers exploit, tricking employees trying to be helpful to abuse that area of flexibility. You can take away human judgment and all flexibility in the system, and that will make the system more secure, but it also results in a deeply uncaring system that makes life harder for people. Rigid bureacracy doesn't do a good job of accounting for a house fire destroying everything you own or your e-mail provider shutting down; these are fringe cases but they do happen and there are positive resolutions available as long as human discretion is involved.

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DANmode an hour ago | parent [-]

No.

You don’t tie it to “your device”.

You tie it to your security key.

Which is treated like a credit card.

and your extended family, friends, or volunteers can act as social proof to allow you back into your accounts,

if your key burns up, it breaks and you were too cool to provision a backup, etc.

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pesus 24 minutes ago | parent [-]

Credit cards are lost and stole all the time, and it isn't really a big deal when it happens, since charges can usually be easily reversed. This does not sound like the same scenario. It also doesn't account for people who lack friends/family nearby or at all.

> it breaks and you were too cool to provision a backup

If we're relying on the average person to back things up properly, this idea is doomed from the start.

	▲	DANmode 2 minutes ago \| parent \| next [-]
		> If we're relying on the average person to back things up properly, this idea is doomed from the start. The average person is relying on the average person, for everything, and I agree, they are doomed from the start. Tech-related items inclusive.
	▲	DANmode 3 minutes ago \| parent \| prev [-]
		Yes, you wouldn’t offer your private key to a random food truck. Just new banks. Same as people being unafraid of their car key being cloned - because they don’t hand it around the general public.