Review on OMG Network by Efughi Lucky

Name: OMG Network
Item: OMG Network
Rating: 4

September 12, 2018

In summary, Omisego is aiming more on the institution, government, banks, and…

In summary, Omisego is aiming more on the institution, government, banks, and corporation level clients and in turn, it is changing and revolutionizing the system. People will use their product one way or another as the institutional level starts adopting this system. So yes, it is a long-term hold since it has a solid team, achieving some milestones, and already has an existing payment platform. You would not see as much advertising or anything since its main goal would be aiming at institution, government, and corporation levels. It will take a while and needs to be hold long term since it has some very ambitious goals.
I will not be writing in detail about Tenx because their white paper says pretty much everything in simpler terms while Omisego is much more complicated. I recommend you read the whitepaper for Tenx to compare their differences and uses.
Note: I am just sharing information so that everyone can learn their views. Learn and do your own research too. This is just an discussion not an investment advice.
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Pros

OmiseGO is a public Ethereum-based financial technology, part of south asian company Omise, founded in 2013, which aims to allow interoperability between closed payment systems such as Paypal, Visa, Alipay, USD, EUR, etc; liberate currently unusable assets such as AirMiles, Gift Cards, Rewards points, allowing them to be spent more easily; and providing bank experience to those without a bank. Proven and experienced. Omise started in 2013, has offices in Bangkok, Tokyo, Jakarta, and Singapore, transfer money between businesses and individuals, and as of Mar/17 handle ~500 million USD / day Omise has heavily funded ethereum development directly. As a result, both founders of ethereum (Vitalik Buterin and Gavin Woods) are direct consultants for omiseGO. Plasma technology will allow the OMG blockchain to scale to 1,000,000 transactions per seconds. POW will not be allowed to destroy the earth. OMG's POS system is durable. Also, they are actually trying to better the world. This isn't just a hipster idea it isthe business model of the future. OmiseGO is a Southeast Asia-based company creating an e-wallet that will make transfer of assets and currencies possible.

Cons

It seems a bit ambitious to "unbank the banked". Banks are strongly rooted institutions, and this system would circumvent their services. The Reddit and Twitter communities seem much smaller and less engaged than, for example, either Ethereum or Neo. A major challenge seems to be getting merchants to accept OmiseGO.