This system has already been introduced on the FamilySearch Wiki Website as well as a few others. The system will ultimately require that LDS members register with an LDS Account and use that sign-in only for all the Websites. The Church defines an LDS Account as follows:
LDS Account is the sign in credentials (user name and password) that most LDS Church Web sites require you to have to access their site. The LDS Church is in the process of transitioning most of its sites and applications to LDS Account in order to reduce the number of user names and passwords you are required to have.It is important to emphasize that this new program in no way limits those who are not members of the Church from having access to all of the Church's genealogical data, with the sole exception of the LDS specific ordinances. In fact, when the program is fully implemented, the general public will have access to New FamilySearch as well.