PKI is a pretty old idea. People were trying to deploy it in the 90s. It turns out that managing the issuing and authentication of keys, as well as keeping them secure and if necessary revoking them, is such a huge headache that few organizations have managed to do it properly. It might be possible to do better now with TPMs in laptops and phones; essentially this is why Apple Pay is now slightly more trusted than plastic cards.
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PKI is a pretty old idea. People were trying to deploy it in the 90s. It turns out that managing the issuing and authentication of keys, as well as keeping them secure and if necessary revoking them, is such a huge headache that few organizations have managed to do it properly. It might be possible to do better now with TPMs in laptops and phones; essentially this is why Apple Pay is now slightly more trusted than plastic cards.