Anybody can participate, just don't claim it's secure.
> Sure, that's exactly how SSL works. We invented crypto systems and we are using them until they are broken, then we phase them out for something else.
The only difference is there's a maillist with actual cryptographers (https://www.ietf.org/mail-archive/web/tls/current/threads.ht...), that iterate over design. If you look at the history of TLS, you'll see how tricky is to get crypto right. There has been lots of attacks on the protocol, that no one person could've think of. You don't have that if you roll your own and/or have "very good reasons" when people point your mistakes out.