It can be very similar to the TLS scheme we use today, where certificates are signed by regulated CA’s. The only difference is that currently there is no regulation to ensure that Google will build chrimium to trust other authorities for browser integrity other than itself. That is definitely a major concern. Fortunately, I don’t think that it is long term viable. First, Microsoft, Mozilla and Apple would be extremely unhappy with this scheme. That’s right off the bat. So there will definitely be resistance on that front because eventually it would do something like break youtube compatibility with Firefox.
Now, I do think that it is plausible that these organizations could come to a agreement that is still ultimately bad for web browsers. There fore, this should be considered by government regulators as something to pay attention to. I’m not too pessimistic about them doing this. There us political will to preserve the open internet, especially in the EU. It looks like the US is also set to re-adopt net neutrality rules. So, im just not as pessimistic about it.
The only issue is that in the short-term, alot of these services that are free are going to degrade. This is what we are seeing with youtube. That is too bad, but I am hopeful and optimistic that it will lead to a more open internet. The fact that we are having this conversation on a decentralized social network is a positive sign.