I don’t like this. So the token will be totally overseen by a Centralized entity so it will be like Tether. I thought that in the first half of the article you said it wasn’t a good idea to try since it would be federated and not decentralized at all?

In my opinion you should just use 0xBTC. Its exactly what you want. A pure mined trustless ERC20 token that is completely decentralized with no need for human management and oversight. Is it pegged to BTC price?? No. But price doesn’t matter it’s functionally exactly the same as BTC. 0xBTC > wBTC