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This video makes it very clear: https://yewtu.be/watch?v=BtbUGFHZTW8
It's custodial Bitcoin that is managed by a few appointed trusted persons within a small/medium/large community where all transactions are 100% private and is connected with Lightning node for transactions going in and out of the community.
Somebody correct me if I'm wrong. It's been a while since I read about it.
Thank you for teaching me something new!
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