You've mentioned some issues with this that I haven't seen mentioned before, specifically what happens with only a small handful of entities controlling nearly all of the transactions. I don't know how likely that is, but it's been decades since I've seen much oversight exerted by various authorities to prevent monopolization of different services.
In my area, fairly densely populated and mostly upscale, it's already a major challenge selecting an internet/cable TV provider, as there's hardly any competition. There effectively are only two choices, both of whom provide iffy service at high costs and one of them is ATT, now controlled to some extent by a venture capital firm. Once they get plundered, I hate to think what will be left.
Now imagine nearly all notary services being controlled by just a very small handful of entities, sort of like a utility... I don't know if that's at all realistic, but the possibility boggles the mind! |