Is it even possible? What consequences would this have if it is possible?
My attempt: Let us call this hypothetical universal identity $e$.
Fields require distributivity, right? $(a-a)a^{-1} = aa^{-1} - aa^{-1} = e-e = e$
But calculating without using distributivity $(a-a)a^{-1} = ea^{-1} = a^{-1}$
So any multiplicative inverse must be the identity. Then we can not have elements other than $e$ regardless of how we try and define addition?