OmiseGo (OMG) in a nutshell
(Updated on 31-08-2017)
OmiseGO is a token proposed by Omise that allows real time, direct transfers across multiple fiat currencies and digital currencies. Omise go is an existing payment management platform mainly focused on Southeast Asian countries such as Thailand, Singapore and Japan. With this new project, they plan to take this one step further and integrate their services with blockchain technology.
What it Offers
- Ethereum based financial technology
- Ease of use – no bank account needed
- People who don’t have bank accounts or who, for whatever reason, don’t want to deal with the financial system now have more options.
- Affordability – low transaction fees
- Using traditional remittance methods make it difficult for a lot of their target market to send money home. The fees will take up a large percentage of the total amount. OmiseGo can offer almost instant transfers at low cost.
- Allows easy transfer between fiat currencies and also digital currencies
What it Means
Ultimately, OmiseGo should make it easier for foreign workers to send money home to their families. It also has the additional benefit of extra security through decentralized currencies. Millions of users in fast growing economies will be given the opportunity to go from fiat currencies to digital currencies.
OmiseGo has announced their collaboration with McDonald’s Thailand. Founder, Jun Hasegawa, confirmed the news on his Twitter. Following the news, OMG has seen a slight rise of over 4% today.