What Is OmiseGo?
OmiseGO (OMG) is the Plasma decentralized exchange, hosting an open-source digital wallet
platform from Omise, connecting mainstream payments, cross-border remittances, and much more.
Omisego (OMG) is the cryptocurrency of company called Omise. Omise, which has advisors like
Vitalik Buterin, Gavin Wood, Joseph Poon, the founder of Golem and Roger Ver is seeking to
Unbank the Banked with Ethereum.
The company, Omise, was founded in the year of 2013, and is backed by venture capital, has been
focused on providing payment services in countries like Singapore, Thailand, and Indonesia.
The Omisego project will be operated and conducted in a different manner from the Omise
company. They company states that Omisego is owned solely by the users and token holders.
They state that they are seeking to construct something that everyone will be able to get behind in
various roles, as both an user and an operator. The idea is to change the way that money is sent and
handled, making a long lasting change.
The aim is to make this vision come to pass via a massively scalable decentralized exchange that will
bring together both fiat and crypto currencies, in a manner that will be free to access through a
simple digital wallet infrastructure.
Their two actions the team will be focused on is developing and building out the system while
building relationships with businesses to give the network a good launch.
They want to make sure that they are tapping into three key aspects:
In the aspect of access, they want to make it to where one doesn’t need an access to a bank account
and still be able to bank, while at the same time, having the safety of nationally licensed full reserves.
In regards to scalability, they want to make it to where, it’s simple, instantly settled and minimal cost.
In regards to security , they are operating through decentralized currencies and decentralized fiat
They aim to allow their users to send payments locally and across borders and they have an already
established customer base with a variety of businesses in Asia. Omisego will pave the path to a
better future where customer can transact with different currencies and countries.
With their simple and powerful SDK, they seek to build a wallet that facilitates payment, loyalty,
rewards, remittances and cross wallet transactions.
They will be providing a white label e-wallet service.
Their system is comprised of three layers.
– The acceptance Layer
– The Decentralized Exchange Network Layer
– Decentralized Cash- in/ Out Layer
The team at Omisego hope to serve as a “preeminent high-value exchange and settlement
platform”. The biggest player in this space, seems to be Ripple, but Ripple is highly
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