It's a fantastic dream but the great fallacy in your argument is that it depends on humanity. Historically speaking people are kind of shit. We rape, murder, conquer, destroy, profit under different banners of moral authority or righteous predestination and this is all while we DO have laws, codes, consequences and even some sense of morality.
I guess I just don’t believe in the individual enough to accept your idea as feasible let alone ideal. I’m not trying to compare the two but functional communism is a beautiful thing…insert people (with their ego, desire, innate need to form hierarchy) and it fails every time.