Review on OMG Network by onur bln

Name: OMG Network
Item: OMG Network
Rating: 4

October 18, 2020

OMG NETWORK

What is OmiseGO (OMG)?
Omisego, an Ethereum-based financial technology, is an e-wallet and payment platform for real-time money and asset exchange. The name of the digital money used in this platform is OMG. Currently there are 102,042,552 OMG cryptocurrencies in circulation.
Earning from blockchain transaction fees, OmiseGo has the potential to be equivalent to Visa / Mastercard / Western Union in terms of functionality. OmiseGO, which solves the problem of coordination between payment processors, gateways and financial institutions, provides a new generation of value transfer between currencies and assets on a high-volume, low-cost and publicly available blockchain, in a decentralized structure.

How Was OmiseGo (OMG) Born?
Developed as an additional product to Omise, a very popular payment management platform in Southeast Asia, OmiseGo, with its e-wallet software development kit, to create a traditional and crypto money and asset management platform, to provide solutions to problems such as settlement time, fees, transparency and security. and the development of a platform where users can make payments and collections without having a bank account.
OmiseGo Team
Founded by Jun Hasegawa in Bankok in 2013 as a payment platform and operating in Thailand, Singapore, Japan and Indonesia, the founding team of Omise is also known for its support for Ethereum technologies. The Omise team, which has expertise and experience in payment systems, financial products and commercial applications, was introduced as the stars of the Financial Technology (Fintech) category by Forbes magazine in 2016.
Main Uses of OmiseGo:
Thanks to the OmiseGO network, which is connected to the Ethereum main network, users can perform transactions related to Remittance and Payroll Transactions, B2B Trade, Supply Chain Finance, Loyalty and Reward Programs, Mobile Banking, Asset Tracking, Digital Gift Cards in an economical and decentralized system.
OmiseGO Wallet
OmiseGO Wallet enables the development of a wide variety of payment solutions on the secure OmiseGO network. While all transactions at digital wallet providers are processed on the OmiseGO network, network users can transact with decentralized currencies as well as traditional currencies.
Features of OmiseGO Blockchain
OmiseGO offers users a decentralized clearing system, liquidity provision mechanism clearinghouse messaging network, asset-backed blockchain gateway, globally scalable and fully public blockchain.
Advantages and Disadvantages of OmisdeGo
The OmiseGo project, which attracts potential users as an e-wallet with its low cost, fast transfer, easy withdrawal and deposit features, has a very experienced and knowledgeable team. The most experienced members of the Ethereum and Bitcoin teams work in the advisory board of Omisego, which is shown as one of the strongest crypto money projects in the digital money market, where there are about 1300 cryptocurrencies.
Experts say that OmiseGo wanting to create its own blockchain is a very ambitious and risky undertaking. OmiseGo plans to create its own blockchain and move OMG cryptocurrency to its platform. On the other hand, although the company aims to be a solution platform on a global scale, it still operates only in Southeast Asia. OmiseGo has focused specifically on the Southeast Asia region, which has the largest share in the $ 442 billion remittance transaction market.

OmiseGo's Goal
Entering the market with the slogan "Unbank the Banked", OmiseGo aims to understand the real business needs, focus on producing easy, secure and integrated solutions for these needs, develop a global standard in clearing and payment systems, provide services on a global scale and ensure that users are with traditional currencies. aims to make transactions with digital currencies as well. OmiseGo has focused specifically on the Southeast Asia region, which has the largest share in the $ 442 billion remittance transactions market.
OmiseGO (OMG) How Much?
OmiseGo management, which earned $ 25 million from the public offering (ICO) of a total of 140,245,398 OMG cryptocurrencies on June 23, 2017, announced that most of this money will be used for R&D. OMG is trading at $ 14.85 with a loss of 12.95% as of January 22, 2018. In terms of market value, OMG, which is in the 22nd place in the ranking of crypto coins, has a market value of $ 2,082,640,000 and a transaction volume of $ 53,224,700.
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