Yea, but that's okay because the scale of "fractional reserve" simply cannot be as large and widespread as it is now. People wouldn't be forced to stay in one Mint the way they are today. There would be competition between mints. It would look more like the Free Banking Era than today's Federal Reserve Era.

I read the book "Sapiens" a few years back and I remember a large section about how the proliferation of credit was good for humanity. I am NOT defending fractional reserve banking, I despise it. But I think a case can be made that some fraction reserve is okay. Something like 90% reserves instead of the 5% banks have today.

You're right about the "new features" problem. But that goes both ways. There will also be many "new features" to allow more transparency within a Mint, and prevent corruption.

I agree with what @Krv just said above. Perfect is the enemy of the good. Fedemints, from my perspective, are looking like a really good solution with the right set of tradeoffs.