OmsieGo's Potential - Cross Jurisdictional Payments platform for fiat and Crypto
The ICO craze can be jading at times, and keeping up takes more time than there are hours in the day, yet keeping up with developments is rewarding as you learn about the tech behind the more credible projects.
And when one project as solid as OmiseGo pops up, and the quiet quality speaks for itself, well ... I'd be doing you Steemers an injustice if OmiseGo wasn't at least highlighted, and let you make your own mind.
Having looked into the OmsieGo Project over the last while, it's no surprise that their price has gone from 30c to 70c in the last week.
The team is solid, they have Vitalik and Gavid Wood as contributors to their project (although Vitalik stated that he was not endorsing any more ICOs, I reckon his contribution to OmiseGo was established before his recent announcement ), Jae Kwon of Tendermint and Cosmos and Joseph Poon of the Lightning Network are also Advisors. The project has been a bricks and mortar establishment since 2013 - so a viable product right there.
The company have a 70+ team and have offices in Singapore and Thailand and Indonesia. They already have an established network and also have had previous Series A & B funding from core investors.
Recent developments include [OmiseGo acquiring Paysbuy] (https://www.dealstreetasia.com/stories/omise-acquires-dtacs-e-money-service-provider-paysbuy-76865/), one of the three largest payment service providers in Thailand, and McDonalds in Thailand using OmiseGo as a payment channel, so the outlook for OmiseGo is certainly promising.
Their digital payments solution aim to "disintermediate electronic payments by providing an infrastructure that will allow consumers to exchange electronic cash directly with merchants, e-wallet service providers, and other users–without the need to rely on banks or centralized payment processors." (source: [Smith & Crown] (https://www.smithandcrown.com/sale/omisego/)).
Through OmiseGo, all merchants will be able to seamlessly accept payments in multiple currencies (including crypto).
OmiseGo will eventually have it's own blockchain containing the following features (according to their White Paper):
- Delegated proof of stake consensus process similar to the proposed Casper protocol for Ethereum.
- Use of interconnected blockchains to scale transaction volume, similar to the lightning network but compatible with the Ethereum virtual machine as well as Bitcoin heritage chains.
- Exchange order matching and exchange execution built into the consensus process, enabling the establishment of a truly decentralized exchange.
- A decentralized liquidity pool that will enable exchanges between fiat and crypto and between different crypto tokens.
- Interconnectivity between blockchains
The OMG is currently trading on exchanges such as Liqui, Bittrex and BitFinex