This will never work as long as calls and SMS messages are routed over the existing telecom networks. The infrastructure is simply too insecure to enable this kind of scheme.
If calls are routed over internet then it becomes more viable but obviously there is still a large coordination problem and misalignment of incentives.
The details differ per country, but either all non-registered senderids will be blocked, or registered senderids will be allowed only from authorized sources. The degree of mandatoriness varies also, in some places its mandatory for telcos to comply, in other places it is some voluntary cooperative scheme.
But despite such details, the problem is clearly not completely intractable.
If calls are routed over internet then it becomes more viable but obviously there is still a large coordination problem and misalignment of incentives.