Omise go

Omise Go – Upgrade of Payment Gateway Omise

Omise Go is future extension and upgrade of working online payment gateway Omise. Omise payment gateway has own live base of customers, which have annually profit around 30B USD.

Omise Go works like ERC20 Token (OMG) on ETH. The main goal of Omise Go is enabled real-time, decentralize and transparent peer to peer exchange of fiat money and cryptocurrencies between individual financial institutions and merchants.

Simply said, OMG wants to use technological advantages of Ethereum and create the decentralized financial network, where all rules and processes were defined by smart contracts.

Business overview of Omise Go

Payment Gateway Based on The Ethereum Technology

To operate a financial network, which has probably thousands of transactions per second, it is necessary to have some technology, which can handle these requirements.

Omise Go will be used as one of the first projects layer 2 off-chain scaling protocol Plasma, created by Vitalik Buterin and Joseph Poon. Plasma protocol is to be able to process up to 1 000 000 tx per second. Off-chain means, that transactions will be processed outside of the main chain of Ethereum.

Completed OMG network will be run under Proof of Stake protocol, where transactions will be verified through holders of OMG, who will be rewarded by transactions fees from users. Omise also created a calculator, where you can calculate your theoretical profit from your deposited OMG into Proof of Stake protocol.

Clearinghouse in a few seconds

The Clearing House is a system for settling transactions between individual financial entities. Simply said, when you pay somewhere with your credit card, it takes 1-3 business days to transfer money to the merchant. Thanks to the Blockchain, Ethereum and Plasma technology, the Clearing House will be possible to settle in seconds or minutes.

Last Update of Roadmap – 30th October 2018

Source – Medium post, state of the OMG Ecosystem
Also, you can watch on progress on Github tracker

The CEO of Omise and Omise Go is Jun Hasegawa. Jun is an experienced entrepreneur and well know person on Japan start-up scene. According to the Crunchbase profile, Jun has over 16 years of experience in web & product design.

Next very important person is David Knott, which covers research of Plasma technology. David is well-known name in blockchain space and he has done a great job on plasma research at Omise Go. For example, you can look on talk from Ethereum meetup in Zug, produced by Techcrunch.

What is Omise Go and Major Upcoming Release

Find out what is Omise Go and Major Upcoming Release. Omise Go will be a great example of the real use of Ethereum in the world of finance…

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Omise go enables real-time, peer-to-peer value exchange and payment services.

Verified network – Eth DApp (?)

HW wallet (?)

 Development of new Plasma chain (?)

Live product (Omise)

 Start date: 23/06/2017

 ICO Price: N/A

 System: Ethereum Dapp

Country of foudation: Japan

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Project News

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