I thought about mentioning DEXs but decided just to say that there are a lot of exchanges on the market. I didn't mention them because I'm not entirely convinced DEXs will push out centralized exchanges. Everyone likes them because they avoid the hacking issue. However centralized exchanges know this and are starting to offer insurance and mandating cold storage for their holdings. In other words, hacking may become less of an issue. However, what centralized exchanges can not avoid is regulations. You'll see more exchange businesses set up shop in countries that are favorable to virtual currencies. In sum, we'll have to wait and see. I think we'll see room for both types and a lot will depend on overall exchange customer experience. Take Binance as an example. They are killing it. They are listing lots of currencies and operating lots of bounty campaigns to reel in whales and their interface is easy to use. The overall customer experience is very high. We'll just have to see if DEXs can operate with the same level of offerings that i see 2nd gen exchanges like CoinLion are coming out with.