I believe a similar program that started on the west coast years ago was tried in Boston, if I recall correctly all the bikes were painted the same color, the honest people on the west coast used and left those bikes for others to use. In Boston every single bike disappeared .
Also please be aware that under Mass. law a bicycle is considered a motorized vehicle, thus the riders is subject to all motor vehicle laws just as a car , bus or truck is. No using a crosswalk, unless under Mass. law the person has two feet on the ground ,as a short cut. You can be ticketed for running a stop sign, a red light, illegal right turn on red, riding on the side walk, riding recklessly as to cause others to have a collision , and DUI on a bike is the same as in a car.
No wonder Boston wants this program again, it's a major money maker for the city....fines and more fines....oh how the mayor will enjoy all that extra money coming in.