Ok I get it now

Essentially the future is a multisig quorum issuing claim checks (ecash) against the use of their UTXO (which is essentially a shared Phoenix wallet)

Whereas the traditional banking system had an issuance system at the central bank level, and combined custody and payments at the commercial bank level, this will be three distinct layers:

1) timechain handles issuance

2) a network of LSPs provides a payments layer

3) fedimints provide custody

Users obviously can shop around for fedimints or use many

Fedimints can obviously shop around for LSP providers or use many

On-chain impact can be reduced to a single shared UTXO per Fedimint per LSP, updated only to splice funds in or out of that UTXO/channel

I don’t think it’s possible now but perhaps the federation can help with the uptime/forced close challenges of running a node currently

The idea of a Fedimint also hosting data and keys and providing notarization and so on… this is tantalizing