If the same hardware, then I guess the only different would be that the public keys would be associated with somthing else. But it's probably a huge patent mess to make this a standard for all countries and states.
I know two stores in my area that don't even support chip cards and this was within going in the past year. One has the readers, but they don't work. The other has no chip readers at all.
I always thought paper signing was a bit outdated, especially since schools don't teach cursive really. We spent like a hour on it, and then next topic!
But then if someone stole your ID, lost it, etc... They could sign for things... but people can forge your signature anyways... Maybe if the machine had a camera in it to take a selfie when you use the card, but a bit creepy in a way to.