What we don't like:
Bancor only works with web wallets. For users that don’t use web wallets sending tokens to a web wallet to exchange them will feel no differently than sending tokens to another exchange. One of Bancor’s selling points is for communities to be able to create their own smart tokens. It’s difficult to see this having real world use anytime soon.
What we like:
Bancor has a unique take for a decentralized exchange protocol. It allows token creating companies to provide liquidity for buyers and sellers using Bancor Smart Tokens. Liquidity is a common problem for new tokens that haven’t been accepted onto high volume exchanges. The Bancor protocol can solve that problem. Bancor works directly from web wallets which allow coin holders to interchange between any ERC20. This is a great feature for bancor as currently you have to swap ERC20 token to Ethereum then to the new ERC20 token.