A few years back, I started getting interested in a similar idea. I'm definitely intrigued in seeing how well it goes. Good luck to you.
Of course, as ideas go, I allowed myself to think further into the possibilities, and found some interesting avenues.
For instance, why allow the facebooks, twitters, etc to own domain over our content? Let people store their own data, and offer API endpoints giving facebook, twitter, etc access. They essentially become frontends and search engines to our shared content. We get control of our own data (and privacy therein), they get to provide an interface to that data in a way that fits what they're trying to offer their "customers".
And then if you take that even further, why allow anyone control over your data? Why not store all my purchase data and credit info on my own servers, and allow authorized companies access as needed? Census time? Popup shows up on my phone asking if i'd like to allow the government access to some of my data for census - I pick what data is allowed, and it's done.
Electric company's system automatically logs in to get my electric usage. Phone provider does the same. Publishing a book literally allows access by readers to your own servers. Releasing an album - same deal. We still have "stores", but those stores are merely search engines offering a service to both the content creators and consumers.
It went further, and weirder (in interesting ways). I'm not sure such a system would truly be beneficial, but I love the idea of allowing people to Truly Own their own data.
Apologies for the tangent. Good luck to you. I'm a fan of the idea as it's presented and I hope you're successful.