 The next question comes from Harry the horse are decentralized. That's a funny name by the way Are decentralized online exchanges possible with a fiat gateway? Harry asks Let me see if there's a bit more to that question. I just have to open it up With more adoption many startup projects have been created to address the issue of centralized exchanges by introducing various Decentralized exchanges from crypto to crypto pairings where the exchange trader or customer owns the keys the exchange wallet Is it going to be possible to have a decentralized online exchange with a fiat gateway meaning? Where you can exchange cryptocurrency for national currency or is this something that could never happen? Also, what are your thoughts about the future of decentralized online exchanges over the next one two years? I think decentralized exchanges are going to become a very big part of this industry in In two or three ways that might be surprising So let me start with the last question first the future of decentralized online exchanges I think is huge Primarily because we're beginning to see the ability to launch a couple of technologies that are really going to revolutionize things One of those is atomic swaps. We already have demonstrated Demonstrated applications that can do atomic swaps between different blockchains An atomic swap is where two parties each pledge On one side of a cryptocurrency in a way that they don't need a third party or escrow system They escrow each other and then The codes that is needed to release one side Guarantees that the other side can release their funds and if neither side releases the funds then They both can get a refund after a time. It's it's a basic smart contract using multi-sign time locks It's very very similar to the type of smart contract you see in payment channels Anatomic swaps make it possible for two individuals independently to swap to cryptocurrencies And swap them atomically meaning that it's all or nothing either both transactions go through or Neither transaction goes through and neither party can walk away and steal The currency so that's that's they don't have to trust each other. They don't have to trust in any third party So that's a big development. The other big development is The fact that lightning network can be used to do atomic swaps between currencies effectively You can create a channel where you send a payment and say Bitcoin and the other party receives it in litecoin So you can use lightning network as an overlay network to exchange crypto to crypto I think these two developments are going to be very exciting So now back to your first question, which is can you have a decentralized exchange with a fiat gateway? Yes, you can In fact, it already exists One example is bisque, which is spelt B. I s Q and Bisk is a decentralized exchange that runs a peer-to-peer protocol in fact, it runs over Tor and It allows parties to escrow and then exchange cryptos for cryptos as well as Cryptos for national currencies. Here's the problem though There is a certain degree of risk whenever you exchange Crypto cryptocurrency for a national currency and the reason for that is that the cryptocurrency side is Non-reversible even if you escrow it for a while at some point when you make that payment once you've made that payment It cannot be reversed on the other hand There is no way to fully guarantee and clear with absolute finality The exchange of fiat unless you do it with cash so if if you did a fiat to cryptocurrency exchange where Someone mailed cash through the postal service, which is probably illegal in many countries and I wouldn't recommend it You could have finality on the fiat side, but then that would expose the fiat Holding person to extreme risk because why pay the cryptocurrency you need an escrow on both ends The the biggest problem is that if you for example set it up So that someone makes a cash deposit into your bank account great Then you send them the crypto then they reverse the cash deposits You'd be surprised at how easy it is to walk into a bank and say that was a fraud. I got defrauded Here's my deposit slip. I deposited cash into this bank account And can you please reverse it and they will reverse it? They'll give you back cash or move it back into another account So if you're the person who just sent crypto you're out of luck like good luck arguing with your bank In fact the moment you walk in and say hey, I gave this person crypto currency in return for that cash They're probably gonna say oh well crypto currency. I heard that's illegal. So we're not gonna help you It's also possible to reverse PayPal transfers possible to reverse wire transfers Possible to reverse credit card card transactions And in fact there is no limit as to how far back in time You can go theoretically a bank can simply pull the money out of your account if you've already spent it from the account They will simply deduct the money. You'll have a negative balance and the next time you put money in there They're gonna take from that. So even if the month that money isn't in there. They'll just take from other money like your wages Or they'll simply put you in credit and then send you letters and eventually send debt collectors after you to collect There is no time at which you can say with absolute finality That a bank deposit bank transfer wire transfer credit card transfer or PayPal transfer is final No six confirmations Infinity confirmations are not enough for fiat. It is a soft promise and it can never be a hard promise And that's why fiat gateways are always risky. What do people who are using bisque do they take a risk and As long as it's a small amount that might be an acceptable risk, but that doesn't scale