OmiseGO is an impressive and mature project designed to deliver the initial promise of blockchain technology: transforming the traditional financial world. OmiseGO provides a wallet and payment network for all fiat cryptocurrencies.
As the omisego price has risen since it’s release, it has attracted the attention of countless investors. They believe that omisego currency will appreciate due to the following reasons:
- Cross-border payment without bank cards is a large market. There are a large number of users in Southeast Asia, South Asia and Africa.
- OMG is doing a complete cross-border payment ecology. To achieve this goal, it led to the development of Plasma, which seems to be slow but steady.
- OMG is the big killer on the Ethereum blockchain, killer dapp. Once the OMG is landed on a large scale, it will be the Alipay on the blockchain. and the dapp on the eth blockchain can be diverted from the OMG. If it goes well, OMG will have a bright future. OMG can be said to be glory with eth.
- The audience of OMG are all users who don’t have a bank card. The main function of OMG is wallet. The value of future wallet is greater than that of exchange. Wallet is the traffic portal of future blockchain world, and a large number of assets will be tokenized.
Although all of these reasons support the idea of appreciation of the omg token, the OmiseGO project is not perfect.
First, in the future, OmiseGO will face competition from strong rivals such as Paypal, Alipay, WeChat, social transfer tool Venmo, offline merchant collection tool Square, and Stripe, an aggregate payment platform for B-side merchants. According to it’s roadmap, OmiseGO’s mainnet will not be available until the end of 2018. At present, in addition to the planned distributed architecture and the characteristics of accepting the digital currency, OmiseGO does not show the characteristics of allowing customers to have enough power to abandon the traditional payment model in business models. To challenge those strong opponents, OmiseGO still needs much time.
This means that the appreciation of OmiseGO is difficult, which is directly reflected in the trend of omg price, and we can see from the omisego chart that since the beginning of May this year, the omg price has been declining dramatically. And just as I mentioned that OMG has a close relationship with Ethereum, who has a very depressing performance recently. So, I do not think it is the right time to buy omisego now!