What is OmiseGO?
OmiseGo is an Ethereum based platform, public in nature that is used in mainstream digital wallets to enable instant peer-to-peer payment. Their main objective is to cut across barriers and provide everyone with better financial services irrespective of their banking status. To do this, they want to streamline and coordinate financial institutions, payment processors and gateways and make financial transactions fast and cheap.
In OmiseGo there are two major components, the wallet and the blockchain. OmiseGo-the blockchain comes in and acts as a gateway that solves the traditional problems such as payment processing, exchange and communication. This makes transactions cheaper and faster as everything is done on a single platform and in volumes while maintaining low costs.
A number of functions can be performed on this network. They include: deposits of payrolls, remittances, conducting of loyalty programs and all trading activities on demand. Moreover this network allows full access to the cryptocurrency world. Lastly but not least it is secure and coins are accessible at any time.
Founder: Jun Hasegawa, Donnie Harinsut
Release Date: July 14, 2017