OmiseGo or OMG is a decentralized blockchain gateway with asset backing which functions as a bank and an exchange platform. Its primary aim is to serve as a platform for settlement of transactions and an exchange catering to preeminent high valued assets. Simply put, it helps those without banks acquire services similar to that of a bank’s by using an open wallet infrastructure set-up. It can also facilitate inter-transactions with legacy rails such as VISA, ACH, and Paypal as well as other blockchain platforms like Ethereum (ETH). Airline Miles and Loyalty points could even come into consideration later on.
The present market value price of OMG at time of writing is $ 12.34 USD with $ 26,383,300.00 volume traded the past 24 hours. It maintains market capitalization at US$ 1.258 billion. Although it has fallen by 5% the last week, its supporters are confident that it’s just part of the normal fluctuations of currencies whether it be crypto or fiat. Even analysts are quick to agree that any downtrend that OMG experiences would most probably be short-lived as reversals and going back with the bull on the greens has always been its characteristic. The median market price is still projected at around $ 15.00 USD according to analysts, which means we could probably expect a rise from its current position very soon.
Officially issued on ETH, OmiseGo during its initial coin offering (ICO) has raised around $ 25 million. The development of the coins platform has been a continuous process which started from its day of conceptualization. Such dedication exerted by its team is not left unnoticed as the coin’s platform is continually evolving and gaining positive reviews from all sectors of not just the crypto community but of society and market in general.
OMG Simplifies Multiple Platform and Wallet Transactions
The mission of OMG is to perfect a decentralized wallet platform which could function and process transactions across multiple and different networks when necessary. It wants to structure a value exchange which undermines the sources or types of the currencies in question and does the conversion and exchanges internally. Just imagine a peer-to-peer platform which can transact ERC-20 Tokens against cryptocurrencies or traditional fiat. Such a platform would add a lot of simplicity and lessen the burden of transactions between platforms.
OMG is set with SDK or Software Developer’s Kit as a backbone. This allows and extends pre-programmed functions which coders can access much quicker and effectively for that matter. The platform is a free open source wallet which extends great freedom for developers to come up with their own designs, styles, and processes. Custom digital apps integration to the platform is also made possible. This function can, therefore, accommodate cross and multiple wallets handling payments, transfers, and other related transactions.
McDonald’s Partnership Forges OMG’s Spot With Top Corporations
Like other cryptocurrencies, OMG has its share of integrations and partnerships. One of the coins defining moments was when McDonald’s Thailand decided to integrate it into their system. With the world’s number one food chain putting its trust, it’s just a matter of time when other giant corporations join the bandwagon and engage in the “cryptonization” of their businesses with OMG being the top candidate of choice.
According to Jun Hasegawa, the co-founder, and CEO of OmiseGo, the crypto market is still at a young stage and small but it has a lot of potentials to grow and be at par with mainstream fiat-denominated assets. Although he also stated about legalities concerning digital currencies, he added that crypto coins are the ideal exchangeable asset. The reason for this is because they are private, secure, stable, versatile, efficient, fast and scalable amongst other things. Jun is currently based in Thailand and is not a newbie in the world of business, finance, and start-ups as he led OMG’s mother company Omise through an outstanding growth in its history since 2013 when it was launched. Omise is considered as a leading financial platform in Asia when it comes to online payment transactions.
OMG’s Difference In Ideology To BTC Earns Public Interest
In contrast to Bitcoin’s primary intent of fully replacing fiat currency with digital coins or currency, OMG takes a different and almost opposite route. Its aim is to actually build bridges to interconnect fiat and other cryptocurrencies to theirs to function in a safe, secure and neutral digital ecosystem. While most cryptocurrencies or blockchain platforms are selective or limited, their goal is to accept any type of currency whether it be fiat or crypto. The earlier stated SDK system is supported by their decentralized exchange (DEX) protocol to make this a reality. Real life applications for this is limitless as the buying and selling of goods and services is endless as well.
OMG Is Speculated As A Good Investment Due To Major Industry Name Support And General Ideology
As with many traders and investors on other fields, those in the crypto community are always vigilant on their efforts to know what the best deal in town is. While others rely on technical analysis of charts and numbers and making predictions and speculations based on extensive computations, others take a simpler route. Simply as it is, most times it is more effective. These are the investors who look for others factors besides numbers such as partnerships and ideologies. We need not dwell deeper into the other endeavors of OMG, but knowing that McDonald’s has considered it requires no further explanation. And back with the ideology of unification of all currencies, fiat or crypto, all seamlessly integrated and working in a secure digital platform is nothing less but Utopia in the crypto and traditional worlds of finance and business. No need to know about the other technical aspects. Its aim is the unification of currencies to make everything so much simpler and the world’s number food chain McDonald’s trust it; so why wouldn’t you? It’s arguably definite; OMG is a winner.