Phantom Stranger origin!

So, we all agree that there are certain DC characters without a definite origin. There is Joker, the Empty Hand, etc., etc.
But today, let’s try to dig deep and figure out one mystery, the Phantom Stranger!
Over time, we have seen many theories. Son of Superman/Wonder Woman, ancient cosmic being, Judas, but never have we seen the truth. So, using logical, deductive reasoning, let us figure this out:

  1. Could he be Judas? From Futures End: