If decentralized exchanges are going to be a thing, how do we get fiat in and out of the decentralized protocol?

If decentralized exchanges are going to be a thing, how do we get fiat in and out of the decentralized protocol?

Isn't this the number one problem of decentralized exchanges?

Two words,

Smart Contracts

Use more words.

aka link

Explain. How will smart contracts act as an intermediate between the crypto world and the fiat world?

CHAIN
FUCKING
LINK

Unironically pic related lmao

>what is coinbase
who the fuck needs smartcontract faggots
jus buy eth bitcoin litecoin where the fuck ever and trade it on the decentralized exchange

That's vaporware though and even their white paper doesn't suggest a mechanism for decentralized fiat->crypto exchange.

...

You're going to be poor forever. Imagine an EtherDelta that will let you use your bank account. That's not possible without an oracle.

Two Words: decentralized oracles

>link depends on your bank account
It's not a decentralized method of fiat->crypto transfer either.

What if banks block access to their API?

How will the oracle hold/check where fiat goes? Sorry for brainletting.

Fiat is always going to be a problem. Decentralized exchanges still help. You can have a fiat gateway still, the problem with these are always trust. (bitshares already has some fiat gateways)

Kyber allows for this. I think omg as well

Thats why req partnered with kyber

This ginger looks like she found my porn stash.

Then use PayPal or another bank that does. For fucks sake.

OMG is interesting but there's still a lot of counterparty risk there.

I'll look into Kyber.

What I'm looking for is a decentralized alternative to the traditional centralized gateway.

Because government regulation of cryptos is coming and fast.

>then just another decentralized bank, it's not like banks are known to collude with eachother or comply with government regulations
That isn't a solution.

>she

Right, and of course the risk of government seizing those fiat gateways.

And again, oracles do not really solve a double spend problem if banks are all blocking transfers from fiat->crypto. An oracle could verify that you have enough cash in your account to buy a coin, but there's nothing stopping you from just withdrawing it or spending it after somehow converting those coins obtained back to fiat.

USDT

/s

If you want a fiat gateway you can buy and sell edgeless tokens in the casino with visa