Cross cryptocurrency payments


#1

Hello

Is there a mechanism in cryptocurrencies or specifically cardano that allows you to pay for something in eg. ETH from ADA without having to go through an Exchange.

If I’m overseas, the visa network would process my purchase at the retailer, converting my home currency to the local currency, and handle that all behind the scenes without me having to visit a bank. Can Cardano or Crypto do that?

If yes, what is that called?
I’m not saying Cardano is dumb, I’m trying to find answers to questions I don’t know the answer to.

Thanks

Ben


#3

The short answer is not yet. IOHK the team that is building Cardano is actively researching something called side chains that among other things will allow cross cyrpto exchanges with supported coins.

Here is a video about side chains: