KYC, in a way is mandatory to Internet connections - to get a prepaid phone, you need to supply ID in Australia, and activate it as the user, with the ID going to the telecommunications company.
To get online, outside of insecure public wifi, with a fixed Internet connection, you need to let the ISP know who you are for a credit check. it is at the very least, then tied to an address.
KYC is already there - its just a matter of access to that data by the authorities, and for whatever reason they deem appropriate.
Couple that with meta-data logging, and other stuff that ISPs are compelled to do in an Australian environment, and the jig was up years ago, not now, or in the future. :)
Yes, privacy is dead in a digital world.
Especially, if you carry a phone everywhere.
The gov't is not our friend, nor is it here to help us.
I suspected that much of this information was already possessed by these companies whether you realise it or not. This is likely why so few adults have even been asked to verify their age who already hold these accounts. You sign up for any service to your house and you give your details which will automatically be run through credit checks, they just don't mention that unless the checks fail.
I only realised a year or two ago that SA driving licenses are all on some digital ID (facial recognition?) database after there was a bid to stop that in another state. They just do it and don't announce it.