Omise are a fintech company doing business in Thailand, Japan, Indonesia and Singapore. They provide a payment solution used by tens of thousands of merchants across Southeast Asia. And now the successful startup are trying to make lightning strike twice with their OmiseGo blockchain.
If Omise manages to achieve half of what they are planning, I expect that OmiseGo will climb its way into the top 5 – 3 coins by market cap by mid 2018. It is a very ambitious project, but if it works it will be massive.
Last Update: January 2018
Why OmiseGo Coin Matters
According to the first sentence of their white paper “OmiseGO is a decentralised exchange, liquidity provider mechanism, clearinghouse, messaging network, and asset-backed blockchain gateway.”
What Does That Mean?
Omisego is an ambitious project trying to build a software development kit and blockchain solution to simplify electronic payment in Southeast Asia.
It’s important to understand that they aren’t making a user side client. You could send USD to someone in Malaysia, on a mobile app, using the OmiseGo blockchain and not even realise it.
Omise already has a proven track record of connecting merchants to software which allows them to accept digital payment methods, what could a company like achieve with a decentralised and open ledger?
Southeast Asia is Primed for Blockchain disruption
The where is as important as the what when considering investing in OmiseGO.
Banking the Unbanked and Unbanking the Banked
73% of Southeast Asia is unbanked. That means a majority don’t have access to traditional banking infrastructure such as cards, loans, etc and primarily use fiat money for everything from getting paid to buying groceries.
Massive Remittance Markets
Look at a country like the Philippines, where OFW (Overseas Filipino Workers) account for about 30% of the nation’s economy. All of this money is sent back into the country by expats working in the U.S, Europe, Australia, Middle East, neighbouring Asian countries and even cruise ships, oil rigs, and resorts.
Business like Western Union thrive, and locally run Smart Palada, Cebuana lhuillier and Globe Gcash have all sprung up to accommodate that movement of money.
Obviously, adoption of payment infrastructure varies across the entire continent, but remittance solutions are popular in other Southeast Asian countries like Indonesia, Malaysia, Myanmar, Vietnam, Cambodia, Laos, and Thailand.
People are ready to adopt blockchain solutions to circumnavigate or improve on the fractured markets. OmiseGO already have merchants, prominent investors, and large financial institutions backing them.
If you want to invest in Omisego, it is worth researching the relationship between OmiseGo and all these companies, but the important take away here is that Omise have done their due diligence and there is demand for their product if they can deliver on what was promised. There are rumoured to be other partnerships, but it isn’t confirmed, and I don’t see why they would keep that info a secret.
The OmiseGO Management Team
Lead by an experienced duo who are no strangers to the startup world. Jun Hasegawa has over 16 years of professional experience in web & product design and previously held several management positions with Alpha-do Inc. in Japan. Donnie Harinsut has proven his worth securing some of the largest companies in the region as partners for Omise and hopefully OmiseGO.
OmiseGO’s Dream Team of Advisers
OmiseGO price and other Trading Information You Should Know Before Investing in Omisego
It is very difficult to take a substantiated guess at OmiseGo’s potential market cap. There are Reddit forums from only 4 months ago saying it’s unrealistic to expect the OmiseGO price to rise above $10, yet we saw an all time high of $21.51 the week before last. Buy OmiseGo short term, this coin is due for a pump.
They released a wallet SDK in beta just before Christmas. Honestly, I expect it the OmiseGO price to fly. It made some waves, but it was also a sombre reminder that OmiseGO doesn’t score to well on hype. It is definitely worth filling a pot for the long term, but don’t expect crypto’s typical 150% 24 hour short term gains when you buy omisego.
These announcements are going to continue as their wallet gets closer to release. If you are thinking to invest in OmiseGO, you need to understand that the real potential of this coin won’t be realised until 2018 – 2022.
Problems with OmiseGo’s Visions
I am trying to be objective here but Omisego coin is going to the moon. I scanned Reddit and Telegraph and did a quick sentient analysis. The sceptics want everyone to note that the tech might not work. It is an ambitious project. Proof of stake isn’t as tested as proof of work, and there is concern that they might not transition nicely to their own blockchain?
OmiseGO was held back by a mediocre roadmap. It was very wordy and didn’t explain a lot of the questions that investors had been asking. They also pulled some fluffy marketing tricks with Apple logos and took pictures that made it look like they had partnered with other massive companies.
They have also moved some of the releases on their roadmap back. I reason that this is fairly common with large, ambitious projects, so I am not worried. I think we would know already if the wallet was going to be dealyed again, and I think Q1 2018 is very likely.
OmiseGo might work perfectly and another company could just step in and become more popular.
OmiseGo’s Proof of Stake
Before I continue, know that there has been very little confirmed about how OmiseGo coin staking is going to work. There is no consensus on how many coins will be required to stake, and what the rewards will be. It is still bloody exciting to know that by investing in OmiseGo, we might be getting paid just to hold Omisego coin in a wallet.