Im not against the technology. I just don't think we are mature enough to implement it in a responsible way. Maybe one day though.
Could this kind of AI be easily deactivated if it didn't serve it as purpose properly or if problems arose?
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The technology is to evolve what we are so as to make us mature enough to be responsible. Without the technology I don't believe there is a chance. Transhumanism is about being better than human because specifically humans cause a lot of unnecessary misery.
An AI which exists decentralized on a blockchain is under the control of all humans who keep the blockchain running. It's controlled by the consensus mechanism. I problems arose then just like we saw with TheDAO, we will simply see a fork, and resources directed away from the problem AI.
When we live outside of the power based, fear inducing structures and learn trust and empathy, we are capable of such goodness on a grand scale. The problem is not human nature but the cycle we are caught in. I don't expect I will convince you there is a better way, but I hope you stay open to the possibility that we can do even better without relegating the job of overseer to machines. If not, come meet my friends one day ;-)