Anonymity is Not Enough
Anonymity is a two-edged sword. It offers a sense of comfort and protection, but also causes issues of trust. Mark Wallace discusses how technology giants Microsoft and IBM are trying to handle internet anonymity, and how this could affect online communities.
I think that the main question would be would people be comfortable with entrusting a system to look after their personal information. Even despite the fact that it offers 100% comfort and protection, with the internet in its current state of paranoia and simply lack of trust to do with anything online payments. This is the kind of system where either everyone has it or it doesn't work to its full potential.
Although I do admit it sounds like a great system, but I think it will take a lot of convincing and time for it to develop into its own.