Congratulations everyone, hold on to your coins because Omisego POS is coming!
While the usual drumbeat of cryptocurrency innovation calls for 'banking the unbanked', a startup called Omise actually has the opposite goal: 'unbanking the banked'.
And with the help of Joseph Poon, co-author of bitcoin's Lightening Network white paper, the Thailand-based payment gateway network is building a decentralized exchange based onethereum to move toward that goal.
The decentralized exchange, which Poon has written another white paper for, is built directly into the company's upcoming proof-of-stake blockchain, OmiseGo. Once it's finished, users will be able to trade fiat currencies for cryptocurrencies, or exchange between almost any cryptocurrencies (say bitcoin for ether) without a third party like Coinbase or Kraken.
Eliminating middleman was cryptocurrency's original value proposition. Not to mention, trust in third parties is arguably what led to some of bitcoin’s most publicized disasters, including thefall of Mt Gox in 2014 and the $65m hack of Bitfinex last summer.
In contrast, Poon described the project as a sign of what's to come in the cryptocurrency space, calling the decentralized trading trend "a big deal".
Taken from coindesk article
https://www.coindesk.com/striking-twice-lightnings-joseph-poon-takes-on-ethereum-exchange-project/
