It seems a bit like this is reinventing what Linked Data (RDF) and Solid PODs already do. Solid: Personal storage repositories and granting access to different apps to read/write to it.
Linked Data: you can link to other people's data with IRI's (URLS) and a common format is JSON-LD.
What's different here and why is it better? Do we really need another standard / protocol?
What's different here and why is it better? Do we really need another standard / protocol?