The vision is not of a central server you must trust. Rather, the vision is of federated servers you don’t have to trust.
My goal with Open-Transactions is for the servers to be able to run on anonymous networks. For this to work, that means the users must be able to trust the system, even if they do not trust the servers.
We must have LOW-TRUST SERVERS—and that is what I have been working towards. The combination of low-trust technology with untraceable cash is what will make it possible to run OT servers on anonymous networks, at a profit.
The same will soon be true with Bitcoin: I have been cooperating with certain Bitcoin developers on a new mechanism to allow users to bail their Bitcoins in-and-out of OT servers, without having to trust the
server itself. That is, even if the server tried to disappear with your Bitcoin, it would not be able to. The next generation of Bitcoin and OT will have this capability. (The new BTC protocol hasn’t been added to OT yet but is coming soon.) Woe to anyone building a Bitcoin site that doesn’t have this capability! (…Because soon your OT-enabled competitors will eat your lunch.)