This is a real game changer that can take the world of crypto to another level. Imagine that you can exchange bitcoin with STEEM directly without having to go into a centralized cryptocurrency exchange? A new level of anonymity can be added to the world of crypto, as you can buy any coin and then exchange it through the proposed decentralized system to any other form of crypto.
This system was invented by Jeremy Lam. I wrote about this new algorithm along an article for Deepdotweb.com and I believe that if implemented, this would be a big hit to the already stumbling fiat economy.
You mean like this - https://shapeshift.io/#
No shapeshift is a centralized exchange.
Everything is centralized honestly as I noticed from being in this space thus far. Even "Bitsquare" claims "decentralized" but as I was observing their platform, I don't see how it is decentralized. @least 'ShapeShift' allows to convert currencies without connecting to banks.