What’s New With OmiseGo?

Quick Recap:

OmiseGo is company founded in 2013, it is a payments focused company, the idea is to empower everyone to transact without barriers and issues in a seamless manner. They want to make it possible for users and businesses to transact without a bank account. Many in emerging economies are already bankless but they also don’t have the ability to transact in quick simple and clean manner. Being bankless for many in developing markets is not a voluntarily choice, it is something that they are not able to take advantage of due to various reasons. But as Omisego grows these many people will be users who are able to transact across the world in a simple, clean, decentralized and secure manner.

How do they plan on doing this?

Through what they call as their public good which can be used to build the next generation of financial services. They are seeking to open up the platform, making it an open- source technology, made to be used in a decentralized manner which have three components. The first component is the Wallet SDK, the second is the decentralized exchange (DEx) and through their scalable OmiseGo network. The fact that they are opening up the platform and are working diligently to make sure that it is secure is what gives them more credibility. They are making it to where others can also build on top of it thus providing more opportunity for this space to grow and accomplish their long term mission. Growing the ecosystem is a long term strategy which help make larger strides in solving problems as the community grows and exchanges ideas and acts based on those ideas.

Omisego Current Updates

Their primary aim in closing out this year is to work on the security of the OmiseGo network but understand that they need to provide more applications for use as quickly as possible.

So what are they working on?

  1. OMG Airdrop – the first Ethereum token airdrop – was their automatic distribution of OMG tokens to all stakeholders in the Ethereum network. Omisego tokens don’t function as a security but more like a software license. Omisego tokens were PoS (Proof of stake) staking tokens. Many have followed suit with the Airdrop model and have also stated they will also do airdrops. The airdrop setup and infrastructure is also open to the public to tinker with and build upon as well.
  2. Strategic Partnerships – Partnerships are crucial to growing the brand also meeting their larger goal of making their public good available for all. They need to continue to grow the community by engaging individual developers and larger organizations. This is being done with partnerships like Global Brain and Krungsri Bank (MUFG). They are planning on launching an accelerator program with Global Brain, which is big news because that means they are stepping into mentoring and ramping up others who have a similar vision and are properly aligned overall. The Krungsri bank partnership allows for OmiseGo products to “power real-time money transfers and payments tool that are currently lagging behind their mobile and wallet needs”. Which is another significant accomplishment because this means they have garnered more trust and are able to service more people from an architectural perspective. They are also seeking further partnerships.More developments to be shared soon!

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By | 2017-11-06T22:14:22+00:00 November 6th, 2017|Cryptocurrency News|0 Comments

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