Review on OMG Network by Tam Pham Duy

The objectives of OmiseGo: OmiseGo aims to answer two problems. First of all, in the world, and particularly in Asia, a lot of people do not have a bank account. This is 2 billion people in this case. On the other hand, and this is precisely the case in Asia, more and more people have access to the Internet. As a result, OmiseGo offers an easy and cheap solution to these people, allowing them to receive, send or own currency. Secondly, OmiseGo wants to answer another problem: the difficulties encountered when moving from one network to another network. It wants to offer users a universal solution, decentralized and free of charge, to send money inter-network. And this, in any currency, Fiduciaries or crypto. Which will have the consequence of increasing the use of crypto currencies. How Does OmiseGO Work? There are two core products in the OmiseGO ecosystem: the blockchain and the wallet. OmiseGO will enable decentralized exchanges on a public blockchain at high volume and low cost. Using this platform, OmiseGO will provide a “next-generation value transfer service operating across currencies and asset types.” Anyone will be able to use the OmiseGO network (connected to the Ethereum main network) to conduct financial transactions. Some of the possible financial transactions to perform with OmiseGO include payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other on-demand services. The platform will also make it easier for millions of users to participate in the cryptocurrency world. They’ll be able to easily switch from using fiat money to using decentralized currencies – like ETH, BTC, and others. The ultimate goal of OmiseGO is to create a state of perfect competition in the world of currencies: “The OmiseGO network is intrinsically agnostic between fiat and decentralized money: as far as adoption and usage go, the system is constructed so that the best currencies will win.”