THELOGICALINDIAN - n-a
It’s been about bristles months aback OmiseGo (OMG), the Thailand-based activity with Vitalik Buterin conducted their ICO and aloft US$25 million. We’ve best up some OMG from the barter a few months back. Today we’ll booty a attending and see whether it’s time to buy added or banknote out.
In their crowdfunding white paper released on June 19, 2017 OmiseGo fabricated a charge to agitate the Southeast Asian cyberbanking industry on a absolutely aberrant level. They promised to baby to the 73% of the 650 actor bodies active in Southeast Asia who currently do not accept admission to academic banking services.
But that’s not all. For the actual 27% they additionally promised to “unbank the banked,” that is, to accommodate a added efficient, cheaper and decentralized another to acceptable cyberbanking options.
The OmiseGo arrangement will action a array of banking casework including payments, remittances, amount deposits, B2B commerce, supply-chain finance, adherence programs, asset administration and trading, and added on-demand services.
Now, there is absolutely no curtailment today of E-payments and fintech companies gluttonous to accomplish a cavity in Southeast Asia’s unbanked population. But best of them are appropriate from one addition with apparent akin accretion and whistles and are not interoperable with one another.
But the axiological affair is with appointment money (or value) from one arrangement to another. For archetype from Venmo to Alipay, or Bank of America to HSBC or any added aggregate of cantankerous platform/border affairs acute agnate allocation efforts. Interoperability is the absolute affair that needs to be addressed.
Our acceptable cyberbanking arrangement is inefficient, slow, and expensive. Payments that cantankerous cyberbanking systems and borders are absolutely complicated and absorb a countless of intermediaries and clearinghouses to ensure the safe alteration of money for all parties involved—including the banks themselves. More on how money moves about in the cyberbanking arrangement actuality (https://gendal.me/2013/11/24/a-simple-explanation-of-how-money-moves-around-the-banking-system/).
Upon a added look, it is bright that the OmiseGo aggregation recognizes this and addition white paper from OmiseGo co-authored by Joseph Poon, addresses this specific affair arch on by proposing a awful scalable decentralized barter and payments platform.
OmiseGo will body a decentralized arrangement that will acquiesce all such absolute banking networks to altering with one addition seamlessly and efficiently. Essentially a accepted arrangement to affix all networks. In adjustment for this to appear OmiseGo needs to body a abounding apartment of APIs and white characterization wallet SDKs for absolute banking networks to interface with the OmiseGo network.
In their own words, OmiseGo is:
a next-generation Ethereum-based banking belvedere enabling real-time, peer-to-peer amount barter and acquittal casework agnostically beyond civic jurisdictions and authoritative silos, and beyond both authorization money and decentralized currencies; enabling accurate banking admittance as able-bodied as abandon from budgetary banned that are not accumbent with the people’s interests.
From a business and operational angle the antecedent appearance of OmiseGo’s rollout action entailed:
Their product roadmap outlined their mission to body a apartment of accessible antecedent technologies that will lay the background for the abutting bearing of banking services.
The three amount apparatus of these technologies are:
Their artefact milestones are:
From a business and operational perspective, It’s axiomatic the OMG aggregation has been absolutely productive.
From a technology and artefact angle it is a lot beneath bright what absolutely has been accomplished at this point.
It is bright the OmiseGo aggregation has been absolutely active accomplishment partnerships, architecture awareness, and rolling out the operations of their organization. And to that admeasurement they accept accurate absolutely acknowledged as OMG is one of the best acclaimed altcoins on the bazaar today.
OMG’s bazaar cap today is about US$800 million. OMG’s ICO contributors accept enjoyed a acknowledgment of about twenty-five times their antecedent advance in beneath bristles months. It would be a massive adumbration to say that OMG has done able-bodied for their supporters.
While it is axiomatic the OmiseGo aggregation has done absolutely able-bodied by their investors it still charcoal to be apparent how able-bodied they will do by the 400 actor unbanked bodies in Southeast Asia they vowed to serve.
Their accurate users don’t charge addition online acclaim agenda aperture or adorned amount services. They charge a reliable and bargain way to accelerate money home to their villages afterwards a continued anniversary of adamantine activity in the city. They charge admission to affordable concise loans. They charge cyberbanking solutions that don’t accomplishment their disability to advance a minimum balance.
Understandably OmiseGo has a blue-blooded mission and they do charge to alpha about if they are to accomplish accurate cyberbanking disruption. But with Southeast Asia’s acclaim agenda acceptance ante still in distinct digits one has to admiration who Omise’s absolute barter are.
We are, admittedly, big believers in OmiseGo and the mission they angle behind. They are one of the few players in the apple today with the tools, resources, and appetite to agitator a accurate disruption to a 100-year-old cyberbanking system. But at a bazaar cap of US$800 actor we’re attractive for a bit added aloof an alive github account.
We own OMG tokens and we will abide to authority as we do see a blink of ablaze at the end of the tunnel. But we are not abacus to our position at the moment until we see more.
Published: 11/22/17
Token Name: OMG
ICO Date: 6/27/17
Raised: $25,000,000
Crowdsale Token Ownership: 65.1%
ICO Price: $0.244
Current Price: $7.89
Token Return: 2423%
Market Cap: $804,739,196
Disclaimer – We accept a position in OMG
VIEWS STATED REPRESENT THE PERSONAL OPINION OF THE AUTHOR
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