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Omise Go Review

Introduction

The utilization of cryptocurrencies is highly growing in various countries all over the globe as described well in our OmiseGo review article. It has been of a very high benefit to trade in various forms of cryptocurrencies. When we think about OmiseGo, we trace our way back to the year 2013. OmiseGo review shows that the company started as from the parent company known as the Omise in the Asian continent. The Omise is originally based in Thailand but its operations are vastly rampant all throughout Southeast Asia. Omise is familiarized in Thailand, Singapore, Indonesia, Malaysia and Japan. Through funding from various entities the OmiseGo platform was brought fourth. The two founders of the Omise are namely Jun Hasegawa and Ezra Don Harinsut who serve in the capacities of the CEO and COO respectively. The Omise had prior repute in handling very many financial transactions with regards to Thai brands and this subsequent growth to OmiseGo was nothing short of a bold and well deserved move by the team.

The OmiseGo system is quite advantageous in that it has helped a lot of merchants and investors to be able to make payments online. That is how beneficial it is to have OmiseGo as shown in various OmiseGo reviews. Thus, it facilitates the smooth selling of products and services to other customers.

OmiseGo, also goes by the code ‘OMG’, is a decentralized exchange, open payment, clearing house platform that is backed by an asset based blockchain. It is issued on the Ethereum platform. Unlike some cryptocurrencies, OMG is not owned by a single entity, but instead, it is a network that is openly distributed by validators who make sure all participants act accordingly. It goes by the motto, ‘Unbank The Bank’, a slogan that promises to provide better financial services to all individuals including those involved with the modern methods of payment such as cryptocurrencies and those involved with traditional systems such as banks.

omisego homepage

Using the mechanism of protocol tokens that creates a proof of stake blockchain, it allows its participants to heavily indulge in market activity. Unlike other platforms that offer decentralized exchanges, OMG provides a mechanism to have decentralized exchanges of blockchains and also in between many other blockchains without using another third based party. This is accomplished by using the protocol tokens system coupled with smart contracts. OMG offered on the Ethereum platform has a market cap that ranks highly, its project well exceeding the a billion dollar valuation.

Therefore, it helps to ensure utmost efficiency as it will be further explained. Our OmiseGo review article discovered that some years back in 2016, the president of Thailand showed a lot of recognition to the form of payment and regarded it as a marker of a digital beginning. This article describes well that this company has been growing over the years and it later adopted improved technologies to ensure efficiency in operations and ensure that the people utilizing the digital form of payment all over the world will have an easy time while working with it. Therefore, they put a lot of effort to ensure that they utilize the blockchain technology to ensure that there is efficiency and convenience while carrying out transactions. This technology ensures security and also allowing transactions across various countries bringing with it a lot of advantages.

About the team

According to OmiseGo review, the company is comprised of a very young team which is responsible for a variety of operations within the organization. It has Hasegawa who is actually the directors of the team. Further research also shows that there is Donnie who is the operating officer who oversees the major operations of the organization. This company as described in our article was created mainly by a guy by the name Poon. Further, this team includes the Ethereum creators, Buterin together his co-founder Gavin wood. This company as described in various articles has other important members including Vlad, Casper who is the head of research at ethereum and Thomas Greco.

Omise go team

The creation of omisego

This company creation as described in the OmiseGo review came into existence through the creation of an ICO. It was heavily endorsed by the creators of Ethereum Vatakik Buterin and Gravin Wood and the founder of another project called ‘Lightening Network’, Joseph Poon. However OMG is a project started by founders of another company that is in existence called ‘Omise’ that was founded in Bangkok Thailand. Those members of that startup are called Jun Hasegawa together with Donnie Harinsut. As a result, OMG has the full support of the bank of Thailand coupled with the endorsement from the Ministry of Finance in Thailand. For most cases, there is the formation of a private ICO which usually precedes a public ICO. However, the formation of omise was a rapid process which showed that there was a lot of preparedness for investing in the project since the private ICO was able to raise most of the capital they required. According to this article, it was actually possible for the private ICO to raise a considerable amount of money worth 25 million dollars.

The objectives

Omise existence as shown in our OmiseGo review had a lot of objectives as it will be described. One of the major aims of OmiseGo was to provide a solution of two major problems faced by people and various commercial institutions globally. First, one of the problems and especially in Asia was that most people never had a bank account where they could ensure that their money is safe or allow for payments to their customers. Therefore, according to further research on the same there was a great need to establish this form of payment to solve the problems of a big number of people amounting to almost two billion.

Another reason was that owing to the fact a big number of people especially in Asia have an internet connection and therefore this was one great way of ensuring that these people could safely store their money, receive and also make payments to their clients. And this is led to the birth of the blockchain systems.

The principal function of blockchains is to resolve the present problem of coordination that relates to a network filled with participants. By having a system that is transparent and accurate, OMG can guarantee that transactions between individuals can be smooth and silky.  Traditionally, this ability to do so was not present. OMG uses a familiar approach to the blockchain system that is considered a decentralized public ledger.

In the traditional system methods of payment, there were efforts that were tailored a

omisego description

round payment systems that could be compatible to all financial institutions and other payment networks. Traditional financial institutions would develop a clearing house, a third party, that would oversee the transactions of these institutions. These were centralized networks that directed the ‘traffic’ and these clearing houses resulted in large transaction costs. Needless to say this could be a long process and the involvement of a third party would come at costs that would wear down its users. It is in OMG’s objective to see the need for these costly clearing houses are done away with making the transactions quite easy and relatively cheap. People are reducing the need to use these centralized parties, stating the need for a much sufficient, real-time system f payment methods that is decentralized.

Another problem as brought out in this article was that there was a great problem when people tried to move from one network to another. Therefore, one of the aims was to ensure that this company established a universal set up which would be decentralized and free of charge to ensure that there was a flow of payment across various networks. This was supposed to accommodate any currency as brought out in the OmiseGo review. This would offer a lot of advantages to the people and encourage various activities globally. The people who were particularly targeted by the OmiseGo usually included the merchants and individuals who were in need of transferring currency to their clients or even receiving payment. Also, another target was the various institutions that could benefit in making payments electronically.

This brought a lot of advantages in that it allowed for efficiency in making payments while at the same time it was safe and allowed for time efficiency. Therefore it was embraced by many people since it solved a lot of problems. This lead to a decentralized form of making payments whereby people and institutions could make payments across networks. This was better facilitated by OmiseGo wallet, a software development kit and existence of a token.

How OMG tokens work

The working of the OmiseGo which utilizes the blockchain technology just like other cryptocurrencies networks, usually have all the transactions held safely in the block. Usually, this has described in the OmiseGo review, each transaction has to be proved valid by the presence of connected computers which usually have their wallets open. Usually, each transaction generates a small amount of fee and this means the more the number of transactions the more the amount that will be collected. Later on, the number of coins collected is usually divided among the token holders. And it is divided usually in the ratio of the amount of coins you store in the wallet. This, as explained in this article, shows that the more you store in the wallet the more you are definitely going to receive.

Omise uses the technology of the blockchains. Since it was developed on the Ethereum platform, not all transactions need to happen on the main chain. OMH has blockchains designed to peg onto other blockchains to make it easy to trade the tokens or other Ethereum coins also referred to as Eth. As Ethereum is one of the world’s largest crypto currency platforms, its block chains are highly scalable. This means that it can handle transactions and interchanges occur with minimal delays and problems. And given the vast amount of users on its network, it can easily cope with the mammoth amount of transactions that happen frequently in an easy way. OmiseGo is no different to this. It has infrastructure in place that can easily accommodate the number of users and traders making transactions and interchanges.

omise go network

Blockchains in nature are ledgers that record all transactions that happen on the given platforms. This act to provide the necessary transparency and accuracy those users ought to have when trading. Given that this data base keeps on increasing, the chain needs to have a large storage unit and systems in place to ensure that this information flow does not stop. OMG makes this improvement when compared to other chains on networks such as Bitcoin. Bitcoin as popular as it is, has a large number of users on its platform as well. This means that the virtual currency network has a lot of transactions happening by the hours. But as good as it may be, it repeatedly suffers from lags and pauses that interrupt trading. This is because their main chain’s data is constantly flooded with information and because its infrastructure lacks in this department, it disrupts transaction between users for a while sometimes up to 10 minutes before an individual can trade.

OmiseGo’s blockchain is an improved one. It ensures on its platform trading is fast and suffers minimal or no lag. It is expected to handle high volumes transactions as well as interchanges and final delivery will be done over the Ethereum platform. In addition to this, its brilliant platform allows other blockchains to interlink with it as it manages and matches order execution over the Ethereum platform. The token itself generally performs a bond would for interactions on this blockchain. This provides a genuinely fast and rapid transaction as compared to the traditional systems which were not the case. Any person, who owns the OMG token, is automatically given the right to certify the blockchain and its underlying rules that are of a consensus nature. The token derives its value from fees charged on the network with regards to the cost of providing these features to its users. The token must have a substantial value so as to guarantee a low cost based attack on the system.

The technology of Plasma

With blockchain technology you are likely to encounter certain problems such as that it is impossible to perform different types of transactions usually at the same time. This was inconveniencing for many users of this technology. However, there was an improvement in technology as described in this article and it aims at ensuring that people can perform various transactions at the same time. Therefore, our Omise Go review shows that the company has applied the use of plasma technology to enable many transactions at the same time. This is a lot of advantage to the users.

omise go plasma

The future of Omise Go

Does OmiseGo have a future? To understand this, it is important to check on this OmiseGo review article. OmiseGo has a big future; this is well described in this article showing that one of the largest banks in Japan has invested a lot of money in OmiseGo. This shows that there is a likelihood of a big future for this company since it has a back- up of one of the most prominent institutions in Japan. Another important aspect is that it this bank as described clearly in this article belongs to one of the largest companies in Japan called the Mitsubishi. Another important thing that greatly shows that there is a lot of future in the OmiseGo company is the presence of Japan’s second largest bank investing in the company. Our article shows that SMBC bank has greatly invested in the OmiseGo. Therefore, there are high chances that this company will keep on doing well given the fact that it has well known and trusted shareholders. Also, further research discovered that one of the largest credit companies in Japan called the credit saison has lots of investments in OmiseGo. This puts a lot of positive thoughts that in the near future, this company OmiseGo is likely to do even better than it is doing now. Also according to various OmiseGo reviews, one of the finest electronic payment services called True money has partnered with OmiseGo to ensure it runs smoothly and it keeps on doing well. Therefore, according to the above situations, OmiseGo is likely to do even better in future since it will have a lot of back up of very professional and good partners to help in offering good services to the clients. The company is also likely to have very helpful innovations to ensure that transactions are very safe, fast and cost effective.

Reasons to invest in Omise Go

Our OMG review article immeasurably recommends that for anyone who wishes to invest in crypto currency should majorly consider joining OmiseGo. It is highly profitable in various ways and also efficient in terms of time and cost. As this article described earlier there are high chances of earning a fee from this company since it all depends on the amount you have invested in the wallet. This means that the more an investor has in his token the more he will receive in terms of the earned fee. OmiseGo is likely to perform a lot of transactions because it has partnered with a lot of financial institutions such as the banks already described in this article. These institutions and banks have facilitated a lot in the proper functioning and efficiency of this company because they help to attract a lot of transactions. In addition to this, the presence of a software development kit enables various companies to ensure that they create their own applications which facilitate the various transactions. Currently, the company is worth a lot in terms of capital such that it is worth more than 2.9 billion dollars. However, crypto currency is a highly changing market which means that any investor should be ready to either make profit or loss after investing.

Why to invest in Omise Go

OmiseGo platform is highly reputable in the financial literacy world. Its presence being traced back to the year 2013 speaks volumes on its ability to withstand the market fluctuations and streamlined the whole arena of crypto currency. The platform has a huge team that is available around the clock to smoothen each process and ensure there are little to no hitches in the Ethereum-based technology. The offices behind this amazing technology are spread wide and far from Japan, to Indonesia, Thailand and even in Singapore just to safeguard the running of the application.

The company goes a step further just to make the interface more user friendly by devising a way in which the user can exact payments via their mobile devices or online store. The new technology in place was developed and established last year November, the PCI DSS also referred to as the Payment Card Industry Data Security Standard was issued to allow access for the user. This basically means the ease of use has been heightened and one does not necessarily need a bank account. If you are not up beat in making any bank transactions, this is definitely the platform you have been looking for your digital currency dealings,

The company’s recent acquisition adds on to why you should be a part of the team of users all over the world utilizing our great platform. The company is well established in Thailand with massive endowments from Paysbuy which is a renowned payment service provider. Under our belt, we also have a license from the Bank of Thailand as an operator of e-money business and if that hasn’t dotted all your ‘I’s and crossed all your ‘T’s we are accredited by the lustrous Trustmark by the Ministry of commerce. Our legibility goes a long way and we have the right backing to ensure transparency and stability in systems and services.

Given the diverse nature of the OmiseGo, a user can easily acquire peer-to peer support; the block chain also thrives on real time payment services across all jurisdictions and organizational silos. This platform allows users to have avid exchanges with minimal setbacks enabling smooth transition of each purchase or transaction. With this fact, the OmiseGo digital currency platform is ever changing to suit the needs of the user and achieve efficient service or product delivery.

The prospects of OmiseGo are always on the rise daily to provide the best of the best to all the users around the world. The OMG token holders will sooner rather than later be able to earn extra income. This is owed to the fact that the token is set to secure a decentralized exchange of fiat and crypto enabling one to have numerous undertakings in the POS system. The OmiseGo has eased the ability to change fiat currency into digital by a whole notch. In the coming years, OmiseGo will have the financial banking of the financial giants in the industry. The intent is mainly having OmiseGo as the backend for digital wallets; such as the likes of Google Wallet, Wechat Pay and even Venmo.

It is alleged in the finance industry that the OmiseGo will become a payment processor of the one of the most established food restaurant in Thailand; McDonald’s. With such a huge company under its belt, their scope will be very versatile and users will have quite the ease at the different joints all over Thailand. However, the record has not yet been set straight, we still await clarity.

As an OMG holder you have the ability to check on the validity of the OmiseGo, if one comes across any kind of block on the system, you are relieved of any tax fees. If otherwise, the repercussions are implied appropriately. In addition, this platform is one of the cheapest to conduct any kind of trades. The main basis being the traditional remittance method, it costs you less to even send money as opposed to other companies which amplify any costs for no good reason.

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Features of Omise Go

OmiseGo usually ensures that it follows on certain features that will help ensure its efficiency. This is well explained in our OmiseGo review article. One of the features includes accessibility. In this feature, this article shows that one does not necessarily need a bank account to be able to access the OmiseGo. Therefore this system ensures that there are well and efficient and services that are licensed nationally. Ability to be scaled is another important feature that is highly held in the OmiseGo business. Our article states that one of the key features of the OMG is to ensure low costs in all of its transactions. The last feature is security. This is a key factor of the OMG as described in this article. This company ensures that the security of the coins and transactions is highly upheld. This encourages people to take part in the cryptocurrency business and also be active and keep on increasing their earnings.

Features of the blockchain

As described in the OmiseGo review article, this is one of the technologies that are widely used in the OmiseGo cryptocurrency business. It has certain features as it will be described in this article. One of the features is that it allows a kind of exchange that is usually decentralized. This helps in ensuring efficiency in transactions and various operations. This kind of technology also helps to ensure liquidity. This, as described in our article, means that this company is utilizing many means to ensure that it has many buyers and sellers of cryptocurrency in the market. It also has an efficient messaging network that ensures smooth operations. Our article also shows that one of the features of the company is to have a blockchain gateway which is backed by assets. Another feature of the technology is to have an efficient system that runs smoothly and that ensures interlinking of various block chains. The OmiseGo blockchain also allows for clearing and settlement of various transactions and payments.

Features of Omise Go wallet

The OmiseGo wallet as described in the OmiseGo review article goes by the name SDK. It aims at ensuring that clients, investors, institutions and banks go to reach the market efficiently and within a short time and also help them to be above the other forms of cryptocurrencies. The wallet can be utilized by various institutions and banks across the world in a variety of ways thus making it as efficient as possible.

Conclusion

The OmiseGo is a flourishing crypto currency company as shown in our OmiseGo review article and it aims at ensuring that transactions are efficient for individuals, companies and other institutions. Not only does it expedite all the dealings but it also ensures that they are relatively affordable. The genius behind OmiseGo is to build up a many eWallet providers as possible in order to broaden the perspective and the user abilities. This block chain created will allow payments to be easier and with a seamless transition.

The platform will completely eradicate the need to change currencies each time you visit a new country. With many eWallet providers on board, you will have the ease to make purchases anywhere, travel everywhere without thinking twice of the market value of the country in question. The monetary borders are completely done away with and the liquidity is absolutely enormous.

OmiseGo would revolutionize the financial industry and take it by storm. However, the currencies of the different states may still remain. The intent of the OmiseGo is to create one universal currency that allows the user to be flexible and comfortable in all possible mannerisms. The potential of the company is quite vast and wide, with new developments ad incorporations every day, currency will be soon redefined and repositioned.

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