Oh My God! What is OmiseGo and Why Does OMG Rank High Among Cryptocurrencies?CC0News15:00 04.03.2018(updated 21:46 04.03.2018) Get short URL
Given the recent release of the easily accessible OmiseGo eWallet and a relaunch of the related operating website, OmiseGo cryptocurrency is seriously poised to make huge advances this year and beyond.
OmiseGo, a virtual currency that currently operates using the Ethereum blockchain, developed by Russia’s Vitalik Buterin, features greater scalability and high transaction speeds. Ethereum was created with the ultimate goal of making crypto-money as legitimate as fiat currency.
The Southeast Asian payment platform saw impressive development strides during the Q4 2017 bull market, pushing the value of the OmiseGo token, or OMG, to over $26.
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Omise, the parent company behind Omisego, has prioritized the implementation of merchant solutions and even made a leap in the direction of the Southeast Asian market. For instance, in 2017, Omise concluded a deal with McDonald’s Thailand, which now uses the platform as the only payment gateway provider for both the Thai McDonald’s website and the McDelivery Thailand app.
OmiseGo is set to work tight with the incumbent financial system, but will be particularly client-oriented when it comes to the Asian market. This is how Omise itself justifies its advanced stance on remaining relevant in the rapidly changing financial eco-system:
“Logically Omise, as a payments provider trying to keep ahead of the market, needs to support any popular digital wallet platform that may emerge… Our research projects [such] as Omise Blockchain Lab, which ran from 2015 to 2017, indicate strongly that this path will bring greater adoption to this platform.”
Why the Future Looks Bright for OMG
OMG has recently demonstrated a slow and steady surge in value, climbing from $8.12 in mid-February to a peak of $20 at the end of the month, outperforming Bitcoin.
Huobi is currently the top exchange for OMG, with more than 20% of the past-day volume of transactions conducted in OMG/USDT via the Chinese exchange platform.
What sounds promising is not solely a newly-announced partnership with the Thai government and business, which might soon see OmiseGo develop a payment system for the soon-to- be digitalized Thai state services, but also the release of the open-source e-Wallet SDK, which mobile apps will be based on.
Separately, Omise, the parent company, has invested heavily in the integration of the Ethereum Plasma scaling solution, which will make the OmiseGo platform rival the conventional payment processing services and offer adopters the possibility of using one unified wallet service to pay for goods and services with a plethora of virtual currencies, thanks to the innovative plasma integration.