OmiseGo, will be the“PayPal” in the Cryptocurrency?

What is OmiseGo？OmiseGO (OMG for short) is a platform for decentralized transactions and payments. OmiseGO’s vision is to become a decentralized trading and payment platform that covers digital and fiat currency, across national borders and organizational barriers. Through the OmiseGO network which connected to the Ethereum mainnet, Anyone can make financial transactions such as payments, remittances, payroll deposits, B2B business, supply chain financing, loyalty programs, asset management and trading in a completely decentralized and inexpensive way.  The aim of OmiseGO is“Unbank the Banked.”

 

So the core business of OmiseGO is: payment and remittance. The target customer base is the population of Southeast Asian countries (Until the end of 2016, the bank card penetration rate only reached about 30%). By partnering with TrueMoney, OmiseGO have more than 20 million active users in Thailand, Indonesia, Vietnam, Cambodia, the Philippines and Myanmar, and realized real-time, low-cost transfers, cross-border remittances, retail and bill payments.

 

 

The Advantages of OmiseGO:

For consumers:

The main advantage of using OmiseGO Digital Wallet for payment and transfer is that it is easy to access and does not require a bank account. Payment and transfer can be done in 24 hours a day, 365 days a year. Omg token can also be used in a variety of scenarios such as point rewards, games, communications.

 

For enterprise users:

• Rapidly move funds at home and abroad
• Get secure ledgers for tracking assets in various departments of large organizations
• Employ the new generation mobile banking solutions
• Digitally issue central bank currency to improve a country’s payment system

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In view of these advantages, OmiseGo was once called “PayPal” in the cryptocurrency, and the price has soared since its release. Even in such a bad encryption market environment in 2018, it has stood up and attracted many investors’eyes. However, since the beginning of May this year, OmiseGo prices have been falling all the way. Obviously, it is not easy to be the “PayPal” in the cryptocurrency.