I reread your analogy a few times, and while I think it's probably accurate, there is absolutely nothing simple in it. It reminds me of the "It's like Uber, but for mortgage insurances" kind of startup pitch. It perfectly encapsulates the concept, but the concept itself is just crazy niche.

To note: the key to start a car is provided with the car with no specific operation, is locked to no other device, doesn't care about who's handling it, can be duplicated and passed around. It would be closer to the traditional password system in all of its aspects IMHO.