OmiseGO (OMG)

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Official site (website): https://omg.omise.co Official site (website): https://omisego.network Reddit: https://www.reddit.com/r/omise_go/ Discussion forum: https://chat.omisego.network/ Official Twitter account: https://twitter.com/omise_go Explorer: https://etherscan.io/token/OmiseGo PDF document file: https://cdn.omise.co/omg/whitepaper.pdf Support email address: mailto:omg@omise.co

Truth and facts[edit]

  • Omise Go is an advanced e-wallet and payment platform. Omise Go basically is a wallet where people can actually cash in and cash out even though we don't even have a bank account.
  • Omise is actually an existing company, it handles payment across Asia. Omise offers solutions for e-commerce, integrating and allowing the receipt of payment like from credit cards and for traditional financial agencies, and in allowing that to be quickly integrated onto a website.
  • OmiseGo is the next step for the company Omise. They're trying to build and combine what they do very well which is combining banking services and financial services and combining that with the blockchain.
  • They're going to create their own blockchain and what they're going to try to do is it's going to try to do a huge huge project combining a decentralized exchange, liquidity provider mechanics, clearing house messaging network, asset-backed blockchain gateway, and this is all what it's trying to do in one project.
  • People behind OmiseGo includes Joseph Poon who devised the Lightning Network and also plasma, and the OmiseGo team.
  • OmiseGo is also trying to be a wallet solution where it's trying to allow people in Southeast Asia who don't have bank accounts, who don't really want to deal with the current financial system, whether it's difficult for them to prove their identity or they don't want to go to a traditional bank system. What they can do is they can sign up for OmiseGo and be able to transfer value to other people on OmiseGo network.
  • OmiseGo also accepts other cryptocurrencies as well such as Bitcoin or Ethereum and allows ways and to actually transfer that liquidity and prove that people have these assets.

Official

  • Slogan: Unbank the Banked with Ethereum.
  • 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. Designed to enable financial inclusion and disrupt existing institutions, access will be made available to everyone via the OmiseGO network and digital wallet framework.[1]
  • OmiseGo official site is available in English, Chinese, Japanese and Korean languages.
  • ICO was on 23 Jun 2017.
  • OmiseGo was known as Omise blockchain lab.

Staff

  • Jun Hasegawa - CEO and founder of OmiseGo
  • Donnie Harinsut - COO and co-founder of OmiseGO
  • Wendell Davis - product designer
  • Thomas Greco - special advisor
  • Vansa Chatikavanij - managing director


Video Playlist[edit]

Announcing the Omise GO ewallet platform

00:00 I’m the CEO and founder of Omise, Jun Hasegawa.
00:00 Omise launched in 2013 and since then has provided payment services across the rapidly growing Asia market.
00:04 We were able to rapidly develop our business with the support of our great partners and investors.
00:14 Today, I am very pleased to introduce the advanced e-wallet and payment platform, Omise Go.
00:19 Hi everyone, I’m Ezra Don Harinsut, I'm the co-founder of Omise.
00:31 Omise Go basically is a wallet where people can actually cash in and cash out even though we don't even have a bank account.
00:41 My name is Wendell Davis, I am the product development lead at Omise blockchain lab and now Omise Go.
00:46 What Omise Go is able to do for the end user, is allowed them to spend money locally to their family, they can make payment, and it also allows them to send remittances across borders.
00:58 So for example, maybe you're a migrant worker from Myanmar and you want to send money home back to your family, Omise Go is the platform you can use to do that.
01:06 We can say that Omise is very uniquely positioned to provide this type of financial platform.
01:07 This is because we already provide our payment services to thousands of business users in Asia.
01:15 Omise Go, it's kind of like just having cash except it's a lot more convenient in a lot of ways.
01:29 It's money in your pocket, you can send it from point A to point B, you can give it to someone, is a way of dealing with money but a lot of people are just more comfortable with, and more familiar with.
01:37 These un-bank people, either they’re unqualified or they are scared to apply for these financial services, so they a rather a use physical cash.
01:47 What would I like to see happen with Omise Go?
01:50 I would love to see tens of millions, if not hundreds of millions or even billions of people use Omise Go to regain their financial sovereignty, to be able to have control over their money and to be able to experience the freedom to be able to move money around anywhere they work, at the most minimal cost possible.
02:11 Though Omise Go, an open-source platform, the tens of millions, hundreds of millions, of people in Asia who don’t have a bank account.
02:18 We can bring them together and help them see what the bank of the future looks like, in a way that reflects our present values.
02:26 Omise GO is a white lable e-wallet service that uses the best of breed blockchain technology.
02:39 So effectively, what that allows people to do is to come in and receive money, send money, make payments all very easily.
02:47 The reason why we chose blockchain technology because we wanted to build a network that people can actually trust.
02:56 The nice thing about Omise Go’s design is it allows a shared ledger while also preserving privacy and this is something that we think people are going to want, they're not going to want to expose their customer data and information to each other, at the same time you're able to verify and confirm with certain events has happened.
03:11 For example in Thailand, there are a lot of telcos that actually have their own wallets, but it's basically a closed loop wallet.
03:19 It's pretty clear that incompatible wallet leads to a smaller user growth overall in the e-wallet space.
03:24 There's a big push for this idea e-wallets you know, it's like everyone has mobile phones these days, everyone would like to be able to easily send money from point to point to make payment but it's very difficult unless everyone is on a common platform.
03:35 We want everyone to have access to financial services no matter who you are in a society.
03:43 It's a basic fundamental right for everyone, it's not a privilege.
03:48 We will reveal more details soon.
03:49 Thank you very much for listening.

What is OmiseGo (OMG) in a Nutshell

00:00 What's up everyone, my name is Michael and today I'm going to talk about OmiseGo.
00:01 I want to talk about who's behind OmiseGo, what OmiseGo project is, what the token, OMG token, OmiseGo token is and also the current an update on the current status of the musical project.
00:16 So let's start off with what is a OmiseGo and more importantly who is Omise?
00:21 Omise is actually an existing company, it handles payment across Asia.
00:26 It's a little bit akin to stripe.
00:30 So payment solutions for e-commerce, integrating and allowing the receipt of payment like from credit cards and for traditional financial agencies, and in allowing that to be quickly integrated onto a website.
00:43 So they were quite well backed.
00:45 This is a paper from 2016 and they're quite well back, they were expanding in Asia doing payment gateway services.
00:54 I want to say that Omise is a very necessary service in Southeast Asia as well.
00:59 Southeast Asia has a lot of countries such as Thailand, Indonesia, Singapore, Malaysia, Philippines Vietnam and these are all small countries with their own banking system.
01:08 Why it's very hard to penetrate that market because it's so fractured.
01:13 There's so many parties and it's so hard to get them to working together and that's what only they did very well, they allow this acceptance of payments in Southeast Asia.
01:22 They started off in Thailand, expanded to Japan and they're now going for Indonesia, Singapore and Malaysia.
01:29 OmiseGo is the next step for the company Omise.
01:35 They're trying to build and combine what they do very well which is combining banking services and financial services and combining that with the blockchain.
01:43 They're going to create their own blockchain and what they're going to try to do is it's going to try to do a huge huge project combining a decentralized exchange, liquidity provider mechanics, clearing house messaging network, asset-backed blockchain gateway, and this is all what it's trying to do in one project.
02:02 And that's why it's so hard to describe about what OmiseGo does, because it does so many different things.
02:10 It's very very ambitious and if you look at the people behind it, well you got Joseph Poon who devised the Lightning Network and also plasma, and the OmiseGo team.
02:22 So you know already in essence what it's trying to do is trying to allow the transfer of value.
02:26 Cryptocurrencies brought forward a way to transfer value between parties, between nations and we can do that now digitally in a trustless system, we don't have to rely on one central body.
02:39 With a central body, you're prone to having to do a lot of due diligence and a lot of analysis of that body, making sure that this body doesn't abuse their power in any way.
02:53 Most of the time, we take that for granted, but it's very possible for the central bodies to hold funds for no particular reason or abuse that at take funds.
03:03 Doing so in a trustless fashion means that this body is now a program and programs behave exactly the way it's designed to do.
03:12 We can review code, we can look at how these things behave and as a result, we don't have to do all that due diligence to trust that person, we're trusting a machine.
03:22 OmiseGo is also trying to be a wallet solution where it's trying to allow people in Southeast Asia who don't have bank accounts, who don't really want to deal with the current financial system, whether it's difficult for them to prove their identity or they don't want to go to a traditional bank system.
03:42 What they can do is they can sign up for OmiseGo and be able to transfer value to other people on OmiseGo network.
03:49 It's important to remember that OmiseGo also accepts other cryptocurrencies as well such as Bitcoin or Ethereum and allows ways and to actually transfer that liquidity and prove that people have these assets.
04:02 It doesn't sound like much but in Southeast Asia there's a huge need to transfer currencies between nations, it's actually quite fractured in terms of countries down here.
04:12 And unlike the European Union which has a euro to go for it, right now in Southeast Asia it's very very difficult to transfer money between countries right now.
04:20 We see the problem in issue in Hong Kong even.
04:23 We're migrant workers have a hard time transferring money back.
04:28 I remittance services such as bit spark are very popular because it allows the transfer of value between nations.
04:34 OmiseGo is going to go for the next step of this and it's trying to be this kind of overall network that just doesn't do one thing, it does everything combined really.
04:43 Another example would be between nations for example Indonesian workers working in the RMR, that needs to send home money back home.
04:53 Using traditional Swiss or Western Union is extremely expensive.
04:55 And even with their small amount of money that they're changing, high fees means that it will take a significant portion of that currency or value.
05:04 With this OmiseGo allows this international transfer of currencies which is mere instantaneous and at low fees.
05:12 Omega is definitely launching their own api and their own payment gateways.
05:19 They can use their existing experience working with these companies that they have with, actual Omise, to make immediate goal successful.
05:27 But that's said OmiseGo is currently still a concept, the wallet hasn't actually been built yet and the blockchain is still in the process of being built.
05:36 So right now what we're doing when we're buying these tokens is that we have a promise of value in the future.
05:42 If you look at the token mechanics in the OMG token, what it does is it's currently just a standard ERC 20 token.
05:50 It's going to represent something until the OmiseGo chain launches.
05:52 Once it launches it’s going to be used as a proof of stake token on the network so it's going to earn for transactions that it does over time.
06:01 In terms of current progress, OmiseGo has actually met the Ministry of Finance in Thailand, that's where OmiseGo itself is really heavily centering it around.
06:12 It's currently trying to gain support from the tiniest Thailand Ministry of Finance and trying to make sure that the government's are okay with it.
06:20 So that's current state of the project, it’s trying to move forward, it’s trying to build its own blockchain and it's trying to go this own wallet system.
06:27 It's going to still take a while for everything to be there because it's quite really ambitious, but it's got a company that has proven success behind it.
06:36 Of course that doesn't guarantee the OmiseGo itself it's going to be successful, it's still wildly ambitious and a lot of its services is still speculating on a need for these services to go forward and for these banks or these individuals as well to actually choose OmiseGo over other services that are being offered.
06:56 Of course this area is highly competitive.
07:00 We do see big banks also trying to offer various apps or various payment methods across Asia.
07:04 So it's going to be a highly competitive space in the future.
07:08 As I would love to hear any questions about the OmiseGo, it's really a huge project and I would love to cover the white paper with you, it's got many different sections.
07:17 And if you have various questions I'd love to hear them down below and I would love to make another video going into a little bit more depth about what OmiseGo and some features of OmiseGo.
07:27 Thank you so much for watching this video, remember to subscribe to my channel, see you next time.

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