There are a lot of places where Know Your Customer rules apply. Further, there are places where identity really does matter, such as insurance. The approach you outlined sounds like a headache when it comes to those things. Not sure who the headache is for... :)
Mostly because of the concept of “insurable interest”. Insurance pricing doesn’t hold up unless the buyer has a reason to avoid the outcome being insured against. The simplest example is life insurance.
Why do you question whether identity would matter?
I would say that NONE need to identify you uniquely. If any engineer is using names as a unique identifier then they need to find a different career.
I can't just call up and say "My name is John Snow, I want to withdraw $100 from my account." Even a small system will quickly run into duplicates. Names are far from unique. Systems might use name for reference purposes, but beyond that, some other unique identifier needs to be used.
My identity is private. I use placeholder names for virtually everything I do.