Decentralization is a word that receives a ton of lip service in the blockchain community, but some companies are actually doing an amazing job getting their actions to back their words. OmiseGO is one such company.
Omise was founded in 2013 as a payment services company, and OmiseGO is an extension platform that operates separately. It is important you not confuse the two.
As an ERC-20 token that operates a smart contract platform, OMG is a high-performing proof-of-stake protocol with a massive mission to bring decentralization to trading.What Need is OmiseGO Fulfilling
Ripple was originally seen to be the top solution in the payment providers sector, but its lack of decentralization has shown that there are significant downsides to their operating model. OmiseGO aims to become a decentralized Ripple, but operating a high-powered decentralized exchange (DEX), and has already become the top name in on-chain and cross-chain transactions.
With decentralization and the ability to connect fragmented payment processors, OmiseGO would also be able to help the unbanked gain access to the banking system.
There is currently a massive gap in the legacy financial network, since payment networks (such as SWIFT) have unilateral control over the flow of financial services on their network. Paypal and Venmo have proven to have similar centralization risks, even if they bring some competition to the table.
Not only would OmiseGO decentralize payment processing and create a DEX, but they have released a software development kit (SDK) to enable the creation of new applications and wallets on their system.Meet the OmiseGO Team
OmiseGO is run by a well-reputed team (headed by Jun Hasegawa) who in the past have been referred to as “Fintech Rockstars” by Forbes. Their advisory board is packed with big names like Vitalin Buterin, Gavin Wood, and Joseph Poon, to name a few.
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