While someone can worry about this project (forcing KYC on some bitcoins), I think that it will funny to se how it will evolve.
But to see this even more interesting way, I think that Bitsquare should support them as a common fiat payment processor! 
It will be funny because it going to have a very different value on the market 
So there will be two different bitcoin, on the same blockchain, with two different value.
My guess is that the bitcoin outside of Vulcan will have a higher value 
Anyway, the Vulcan project is still not out/active.