Yeah, the simple things pop out, often after years of hard study. I realized that Bitcoin was no different than the reserve settlement systems, other than nobody is in charge. Lightning is like the depository systems that hold collateral, like overnight loans.

And ecash is just like regular cash - a transferable credit note. 

In the earlier private banking systems ‘cash’ had numerous private issuers. It worked (still works) really well, until,someone got the bright idea we needed central banks.