Yet another way for people to share (and steal) data.
Two problems as far as I can see: First, this isn't a way to protect data, it is a way to share data.
Second, the data is kept in a big database which Tim Berners-Lee can access (if he can't, how can anyone else?).
How come people promoting so-called privacy enhancing technologies always want a big database? In some cases it is because they want to charge for it, in others the reason is more nefarious - but a big database of secrets is never needed, it is just another copy of private or secret data, and it breaks the second law of security - "Stuff you don't have can't be taken from you".
Sharing secret or private data is almost never to the advantage of the user - sharing medical records between surgery and clinics, and some credit reference data, are about the only exceptions I can think of, and these are well serviced already
Shame on you, Berners-Lee.