No, it's completely different, because eventually any mints who do this will get wiped out and there aren't any bailouts
Discussion
In an open market without rails, sure. But that's not the legislative environment we're heading towards. Keep in mind that failure was on the table for banks also... Until we started bailouts.
I don't actually see any other way, though. We need custodians and this path is more secure than lnbits, for sure.
The way I understand this, for mints to be interoperable, they also need to be lighting nodes, correct?