Its a cool idea but I don't know if this would actually be an improvement. What happens if you lose your private key? What happens if someone hacks your private key?
M of N keys. You can contract with multiple parties to be part of N if you like.
Exactly, let's say you have 7 friends and you trust them enough to think that say 4 or more of them would not screw you over and one of them would tell you. So you create 12 shares, give yourself 5 shares, give your seven friends 1 share each, and make it a 5-of-12 required to unlock. Then you can always unlock it since you have 5. And even if something happens to one or two of your friends and you also lose your 5, you can still contact the remaining friends.
