Looks like a very promising concept, at least from a technical perspective. I don't rate its chances of success all that highly, since it needs a lot of buy-in before it gets enough network effects, but it's nice to see someone genuinely trying to find workable solutions to what we can no longer deny are serious privacy and security problems with the current setup.

Something I'm not clear on is the licencing of the code. Is it open-source? For trust reasons I'd want to be able to read it.