Abstract. We propose a system based on a Bitcoin like cryptocurrency model whereby participants use Proofs of Identity tests in order to have certain digital identity elements linked to public key cryptographic keys such as ECC based PGP in order to be entered into a public ledger system known as a blockchain. We contemplate a nominal reward system for passing Proofs of Identity such as responding to an encrypted email and posting their IDCoin address on their social media networks that would demonstrate positive control of a given account. Participants would be encouraged to perform key-signing for anyone known to them in order to build a Web of Trust. (WoT). The rewards (aka tokens or simply “coins”) would then be eligible to be “spent” on reputational events which would also be entered into the blockchain. Reputational Events could be anything from signing another members public key to expressing an opinion about another member of the WoT to rating a transaction or the IP address of an email server to real world things such geolocations or the license plates of automobiles.