Sweden has something similar, called E-legitimation. Issued by banks, mostly used for accessing government services, like applying for student loans, paying taxes, etc.
If it's only intended to be used in this kind of way, no problem. If not...
In Sweden they also have a Personal Identity Number (Swedish: personnummer). You need a personnummer in order to do just about anything of significance (healthcare, education, accommodation, bank account, insurance, etc).
If it's only intended to be used in this kind of way, no problem. If not...