I think this is the key. If it behaves honestly when it is …
I think this is the key. If it behaves honestly when it is under observation then anchor everything to the universal ledger so there is neither incentive nor opportunity to be deceitful. This concept applies to humans institutions and agents alike.
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Yes.
A random observer would only see interactions between keys, but someone who has set it up and is the source of the satoshis being spent can observe and analyse the interactions to some degree.
And could even intervene.
Depends on how it is set up.