OmiseGo, built on the existing product, Omise, a very popular payment management platform in Southeast Asia, is an Ethereum-based payment system, which is aiming to be compliant with the Plasma scaling proposals.
Basically, OmiseGo is an e-wallet and payment platform operating across currencies and assets.
Its advisory board consists of starry blockchain and Ethereum developers, including Vitalik Buterin, Gavin Wood, and Joseph Poon.
OmiseGo is to create a platform for managing fiat/cryptocurrency/other assets with its powerful wallet Software Development Kit, used to ensure full interaction with OmiseGo network. It aims to solve a lot of problems, including settlement time, fees, transparency, security, finality.
OMG tokens, ERC-20 token based Ethereum until OMG blockchain is created, will be used to validate the Proof of Stake network of OmiseGo and serve a means for tokenholders to get rewards: more transactions on the OmiseGo blockchain – more benefits tokenholders receive. At press time, OMG takes the 1st place among all Ethereum’s assets being traded at slightly more than $9, with market cap making almost $893M, according to the coinmarketcap.com.
As have been said, OmiseGo is going to be a new blockchain, being closely integrated into Ethereum mainnet, which will enable its users to manage: fiat tokens, cryptocurrencies, other assets (including loyalty and reward points).
OmiseGo can be used in the following cases:
Remittances;Loyalty points;Mobile banking;Asset tracking;Digital gift cards;Tokenized fiat.
According to the team behind the project, one of the biggest markets they want to cover is $442B Remittances market, later moving to payments, loyalty and rewards, gaming and messenger platforms.
Source:
https://www.coinspeaker.com/2017/08/17/ethereum-vitalik-buterin-omisego-joseph-poon-partners-smart-contracts/
