What Is OmiseGO (OMG)?
OmiseGO (OMG) is the blockchain-based platform for parent company Omise’s mobile payment products. The Thailand-based company built a mobile payment network similar to Stripe in Southeast Asia. It’s now hoping its OmiseGO blockchain will introduce cryptocurrency and other fiat currency exchanges to the mix. It’s an important feature in an area where cross-country travel is normal.
Who Is OmiseGO?
OmiseGO is a subsidiary of the company Omise, which is basically the Stripe of Southeast Asia. Omise developed and maintains an online payment gateway for payment processing and bill pay, and OmiseGO is the blockchain-based arm of the project.
Use Cases of Omise and OmiseGO
Omise can be used for any type of web-based payment, whether ecommerce or mobile in-store payments. It can also be used for currency conversions, money transfers, as a cryptocurrency wallet, and more.
How to Mine OMG
OMG is not mined. It is a Proof-of-Stake (PoS) ERC-20 token on the Ethereum blockchain.
OmiseGO Investors and Partners
Omise has plenty of partners worth bragging about, with over 10,000 merchants accepting it, including McDonalds Thailand and AliPay. Its investors include prominent Asian venture capital firms, and it has support from Thailand’s Ministry of Finance.
Learn More About OmiseGO
If you want to learn more about OmiseGO, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.