Decentralized cryptocurrency exchanges are the future of cryptographically secure distributed ledger money (BitShares, OpenLedger, EtherDelta, etc).

Correct me if I'm wrong but isn't OpenLedger the same as using a centralized exchange? You are trading BTC for Open.BTC which is an IOU and they attempt to keep your BTC safe. I'm not sure I trust that and I'm also not sold on BitShares. It seems very centralized to me with only 100 nodes staking blocks and the idea of pegging assets seems like a ticking time bomb to me.

I think the future of decentralized crypto trading will be using cross chain atomic swaps but there would still need to be a way to trade fiat to crypto (maybe OTC).