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UPDATE This part probably doesn't make much sense from a security standpoint - it put's us right back to where we started. See comments section.
TBD... Just because the configuration APIs are distributed doesn't mean the configuration information must be. In the case of storage modules, they may choose to just store their configuration in postgres as doing so would probably require little effort. For business logic modules, or modules which have specific needs (e.g. the configuration is sensitive and should be encrypted, etc.) could choose to use a central configuration module for storage.
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