I think there are a handful of problems with this post, one of them being that index funds are already in many ways "open source." Re: their investment choices the investments that go into an index are chosen by the creator of the index which is separate from the investment house. The investment company MUST simply follow the index and trade as the index indicates. The tracking accuracy may vary slightly between Vanguard, Blackrock, and others, but generally they're all tracking accurately using basically the same methods. Any investor can move their shares to any other investment house at any time.
Also each investor already owns their portfolio outright... it is simply housed at the investment company. There is an absolute avalanche of regulation making that not just desirable but necessary. To remove a brokerage house from this equation would first require the complete and utter destruction of the global economic system (highly unlikely).
Every investor has the ability to choose funds crafted based on moral guidance or active management, which would spread out voting power more than it currently is. People are by and large not choosing that option at the moment.
Also each investor already owns their portfolio outright... it is simply housed at the investment company. There is an absolute avalanche of regulation making that not just desirable but necessary. To remove a brokerage house from this equation would first require the complete and utter destruction of the global economic system (highly unlikely).
Every investor has the ability to choose funds crafted based on moral guidance or active management, which would spread out voting power more than it currently is. People are by and large not choosing that option at the moment.