This is an Ethereum-modeled financial technology firm that offers a blockchain platform and payment wallets. In this post, we take a comprehensive review of Omisego to demonstrate everything you need to know about it.
What exactly is Omisego?
Omisego is a financial company that designed the financial technology for application in digital wallets. The technology is crafted to help in real-time and peer-to-peer exchanges. The technology targets operating agnostically in various jurisdictions for both fiat money and decentralized currencies (cryptocurrencies).
The main goal of Omisego was enabling financial inclusion to disrupt the conventional financial institution’s operations. To put it differently, the target of Omisego is making it cheaper to send or receive payments.
The company was founded in 2013 by Jun Hasegawa and Donnie Harinsut. It is registered in Singapore as a Pte LTD. The digital wallet and network framework are scheduled for launch in the fourth quarter of 2017. OMG tokens will precede the main launching later in the year.
How Omisego operates
Omisego operates using two core products in its blockchain and wallet ecosystem. The platform will enable decentralized exchanges on its blockchain at a very high volume while keeping the cost as low as possible. Omisego anticipates providing the next-generation value transfer services for operating across varying currencies.
As far as you are connected to the Ethereum network, you will be able to use Omisego for different financial transactions. Some of the key transactions that people can perform using Omisego include payroll deposits, B2B commerce, remittance, payment, loyalty program, supply-chain finance, and asset management.
The Omisego platform will further help to make it easier for users to participate in Cryptocurrency globe. The platform will help users switch from utilizing conventional money to decentralized currencies such as Bitcoin and Ethereum among others.
By removing barriers that stand between trading and transactions, Omisego ensures that only the best currency will be elevated to the top.
The main Omisego features
The main things that Omisego emphasizes on its wallet and blockchain include;
The wallet SDK
The SDK promises to greatly simplify implementation of Omisego system by providing post-integration support to hit the market faster and stay ahead. This feature is a white-label wallet that means companies can apply the wallet in various industries. This means that the wallet can be used in the conventional currencies as well as cryptocurrencies.
The wallet further provides users access to Omisego payment gateway; virtual and credit cash card that top up over the counter as well as via direct debit. Applying the SDK wallet, different companies can apply individual styles and even embed custom apps. For example, you can apply the wallet to run loyalty programs for your company.
Note that the Omisego wallet utilizes a special distributed open protocol that allows it to communicate with others to harness the entire potential of the mobile commerce.
Omise will sell OMG tokens in the coming months. These tokens are designed to allow token holders the rights for earning fees when they validate transactions on PoS (proof of state network. This is a network that features decentralized exchange built into the OMG blockchain. PoS will also come with consensus rules that allow inherent interoperability with other blockchains such as Ethereum.
Pros of using Omisego
- Omisego has acquired some of the top payment providers in Thailand and the Far East; Paysbuy. This and other integration capabilities make the Omisego a highly potential platform.
- It has ample room for expanded capabilities through add-ons. This has endeared the company to other firms that offer financial services.
- It remedies the shortcomings of other cryptocurrencies by providing the conventional financial services as well as linking users to the crypto-world.
Cons of using Omisego
Though Omisego promises a lot for users, it is yet to be launched. This means that most of its systems are not yet tested. More clients are, therefore, likely to be skeptical about using it to other platforms.
Where to Buy and Sell OmiseGO in Australia?
Crypto Currency for Fun recommends buying OmiseGO at CoinSpot. CoinSpot is a multi cryptocurrency wallet with built-in trading features. Users can store many coins, including OmiseGO and they offer Instant Delivery or your coins right into your account.
As an Ethereum-based exchange and payment platform, Omisego promises to revolutionize the way people relate with conventional currencies as well as cryptocurrencies. Its greatest pillar of facilitating peer-to-peer value exchange and real-time operations has demonstrated the huge potential in Omisego. Despite the risks that come with the platform because it is yet to be tested, it is one of the emerging technologies that are likely to attract a lot of attention.