"Conspiracy theorists" have been warning about the "Digital ID" for decades. People call them crazy schizos ranting about "The Mark of the Beast" (a lot are) but there is a strong basis in reality. Once everyone has mandated Digital ID, it will be inevitably linked to a CBDC (Central Bank Digital Currency). This allows TPTB (The Powers that Be) a full 360 degree panopticon into your entire life, more than they even have now.
What this means is that if the wrong administration seizes control of power, your entire life can be DEHUMANED at any point in time. This is even beyond deplatforming. There will be no cash refuge. You will lose your banking, your ability for housing, your services, your absolutely everything.
This is not science fiction, this is not even fiction, this is the reality of what will happen. This road is a dangerous road that we've already seen examples of, and if the wrong actors get control over this creation, it's all over.
"Conspiracy theorists" were/are just ahead of the curve.