If you are currently underpaid, it could reduce you leverage with the prospective employer. I have 2Xed my pay because a new employer didn't know my current rate.
They still wouldn't know your rate. As I mentioned before, pay transparency isn't necessarily personally identifiable. Hypothetically you could've 4X'd your rate. Maybe your 2X rate is actually a lowball. Who's to say?
yeah, it really all comes down to implementation. How much information is available an to whom.
Being able to look up anyone by name in a public registry and see their exact salary would probably be a worst case This is the current state for public employees.
Anonymized data for companies larger than a certain size with job class (like levels.fyi[1]) would probably be a best case. However, if you want to get meaningful information about sex, race, age, & gender, this information quickly becomes identifiable for even moderate companies.