What is OmiseGO?
OmiseGO is the answer to a fundamental coordination problem amongst payment processors, gateways and financial institutions. By enabling decentralized exchange on a public blockchain at high volume and low cost, OmiseGO provides a next-generation value transfer service operating across currencies and asset types. Through the OmiseGO network connected to the Ethereum mainnet, anyone will be able to conduct financial transactions such as payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other on-demand services, in a completely decentralized and inexpensive way. Further, millions of mainstream users in the largest growing economies in the world will be enabled to make the transition from using fiat money to using decentralized currencies such as ETH, BTC, and others. The OmiseGO network is intrinsically agnostic between fiat and decentralized money: as far as adoption and usage go, the system is constructed so that the best currencies will win.
The OmiseGO Blockchain
The OmiseGO Blockchain comprises a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. It is a scalable and totally public (permissionless) blockchain whose Proof-of-Stake consensus is bonded by the activities of the chain itself. The network is designed as a highly performant system leveraging interlinked blockchain construction: while clearing and settlement occurs over the OmiseGO blockchain, the costs of protecting transaction value is externalized to other chains in ways that directly promote the value of those chains.
The OmiseGO White-label Wallet SDK
The OmiseGO White-label Wallet SDK will allow a diversity of payment solutions to be easily deployed on the robust OmiseGO network. Digital wallet providers have the flexibility to enhance, add, and customize payment solutions for various industries and vertical markets. All transactions across digital wallet providers will be conducted on the OmiseGO network, and decentralized currencies can be traded freely alongside fiat money by all network users.
- Providing alternative financial and digital commerce tools for everyone without having to go through traditional banks, institutions and card networks - Through the OmiseGO network, anyone will be able to conduct financial transactions such as payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other on-demand services, in a completely decentralized and inexpensive way - Token holders will be eligible to earn transaction fees for interchange payments and decentralized exchange
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Overall, OMG is a strong-performing token with several key benefits going for it. OmiseGO is aimed at providing financial services to Southeast Asia’s unbanked population. The OmiseGO blockchain supplements the existing Omise payment gateway and mobile wallet infrastructure. OmiseGO will eventually utilize Plasma on Ethereum for fast transaction speeds and Proof-of-Stake verification model for decentralization. Omise is backed by several prominent Asian VC firms and has backing from Thailand’s Central Bank and Ministry of Finance. Ethereum’s founders are consulting on OmiseGO. With these pieces in place, OmiseGO is a blockchain to watch for at least the next several years.
OmiseGO is an Ethereum-based payment and exchange platform that plans to revolutionize the world of finance as we know it. It’s a real-time, peer-to-peer value exchange and payment service that allows the best currency to rise to the top. The goal is to enable financial inclusion while disrupting existing institutions.
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