What is OmiseGo (OMG)

Crypto fans are very enthusiastic about OmiseGo and we believe it has more than the ‘OMG’ abbreviation of the token, they are attempting to unbanked the banked through a public Ethereum-based financial technology.

First of all who are Omise?

Omise are an online payment platform founded in 2013, they already have over 130 employees based in Thailand, Japan, Indonesia and Singapore. They offer a user friendly payment solution which works easily across multiple devices. There tag line is “We believe online payment is a necessity to develop any kind of business on the internet” and with the launch of their new ICO it looks like they may be using blockchain technology to make this happen on a much broader scale.

OmiseGO will be connected to the Ethereum mainnet and will allow anyone will be able to conduct various financial transactions such as:

  • Payments
  • Remittances
  • Payroll deposit
  • B2B commerce
  • Supply-chain finance
  • Loyalty programs
  • Asset management
  • Trading
  • And many more

On top of this everyone will be able to use OmiseGo to transition seamlessly from using fiat currency to using cryptocurrencies.

Overall this could be revolutionary for so many on such a broad scale, for example thos who do not have access to financial services like everyday banking will now be able to access those facilities, consumers and merchants will be able to trade directly without the need for a trusted third party, those in less economically developed countries will not need to be paid directly in cash as they now have a much better alternative, and these are just a few examples. They believe they can therefore solve some of the fundamental problems amongst payment processors, gateways and financial institutions.

OmiseGO (OMG) recently finished their ICO and raised over $25,000,000, and at the time of writing this article the price is currently at £5.35/$6.89 which is up over 900% since it began trading on popular exchanges. Not only that but it is seeing huge amounts of trading already and today has had over $200 million volume of trading across the top 10.

Let us know your thoughts on OmiseGo, will you be investing?

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