Watch Out For This Promising FinTech Startup: OmiseGO Wants To "Unbank The Banked With Ethereum"
There have been countless ICO's this year, countless new technologies and products that have been announced and countless new cryptocurrencies that launched on the market.
Since there are so many, I have started a series on my Steemit blog where I'll write a post about projects that stand out to me.
Once in a while, whenever a project stands out to me, I'll write a post about it.
One of these particularly interesting projects is Omise - a new payment technology based on Ethereum!
Overview
Name: Omise (Omise Go)
Token Name: OMG
Blockchain: Ethereum
ICO: Concluded ($25 Million)
Founded: 2013
Launch: Late 2017 / Early 2018
Mission Statement: "Unbank the Banked with Ethereum"
Whitepaper
- Website -
What is Omise Go?
OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies.
Omise is a Bangkok-based Startup that was founded in 2013.
With Omise Go, they aim to launch a wallet and payment network that lets people cash money in and out and transfer it to other users - all without the need of a bank account.
Usually, financial products aim to "bank the unbanked" - but Omise Go's mission statement is to "unbank the banked".
In true cryptocurrency nature, they want to allow their users the freedom of not having to rely on banks as a 3rd party.
The concept is similar to payment processor Stripe.
Some sources have already called Omise Go the "Stripe for Asia" - only with a decentralized, blockchain-based approach!
The wallet will feature fiat currencies as well as cryptocurrencies.
"Any user of Omise GO will be able to conduct financial transactions such as payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other services, in a decentralized and inexpensive way."
Crowdsale and tokens
The Omise crowdsale started in may this year, with a total amount of $25 million raised.
This was an important step for the development of ICO's since Omise already was a mainstream business and chose the model of an ICO for their funding process.
“We will be the first mainstream business to pioneer the use of a token sale to bring new product to market. For the public, this token sale provides an opportunity to share the benefit of a future Omise product, and later to participate in running the mobile money network itself.”-Omise CEO Hasegawa
The OMG tokens have been added to Bitfinex last week and can now deposited in wallets.
Exchange trading featuring OMG/ETH, OMG/BTC, and OMG/USD will begin "shortly".
Team
The Omise Team features big names from the crypto scene, showing that the team offers a lot of experience like almost no other startup.
Japanese CEO and founder Jun Hasegawa has founded several tech companies prior to Omise, focusing on mobile payments, e-commerce and payment infrastructure.
COO and co-founder Ezra Don Harinsut is a knowledgeable trade manager and trade coordinator, with over 12 years of experience in the Fintech industry.
The managing director Vansa Chatikavanij previously worked at the World Bank Group, managing development programs focusing on infrastructure investments and finance inclusion.
The Omise Team also has a number of advisors, consisting of well-known figures in the crypto scene:
One of them is Vitalik Buterin, founder of Ethereum, and another is Joseph Poon.
He is the creator of the Lightning Network and was the principal author of Omise Go's whitepaper.
Conclusion
Omise GO is a very promising startup - it might just be one of the most anticipated projects in the crypto scene right now.
With big names and a lot of experience, the team aims high: they want to become the next big mobile payment processor for Asia, representing both fiat- and cryptocurrencies.
Featuring an Ethereum-based network and wallet, they want to offer customers an easy and quick way to handle money without having to rely on a bank as 3rd party.
I'm excited to see the exchange trading start this week, and I'm sure OMG tokens will be very popular!
© Sirwinchester
Nice. :)
THANK YOU SO MUCH for this post! So happy to have found this project - it has immense potential, I've put 3 bitcoin into it immediately! What a find ;-)
I'm glad that I could share that with you! Yes, this project really has a lot of potential and I think you've done the right move with your investment!
OMG am gonna check it out
thanks for the info :)
You're welcome, I'm glad I could share this interesting project with you guys!
Sounds like a very interesting concept. I imagine easier ways to use different cryptos will be big business here shortly.
Definitely. Simplicity is the way to go if we want crypto to go mainstream. and also an easy way to exchange fiat and crypto currencies!
😉 true!
thank you for ur post, i also think that there should be any bank which is only for bitcoins
Thank you for the hint how to spend money :)
It's definitely something to keep an eye on if you want to invest.
The team has some big names and a lot of experience so I see nothing wrong with investing here and holding long term.
I also like name OMG :) Sure, I'm woman
I'm a big fan of Omise Go -- This should be great in the near future! Keep up the great posts! Upvoted & Resteemed
Thank you, I appreciate it!
Upvoted & RESTEEMED! :)
Awesome, thank you!
Thanks for sharing my friend!
When I saw the sticker on Vitaliks computer I knew it would big.
This Post was Added to the Steemit Social Media Queue.
Yes, as soon as I read Vitalik's name as one of the advisors I was convinced that this project has huge potential!