OmiseGO

OmiseGO(OMG)

OmiseGO is a subsidiary of Omise, an online payment gateway service provider operating in Southeast Asia. OMG is being built as a scaling solution for decentralized finance on Ethereum, using the Plasma architecture. It is a very ambitious long-term project with "Unbank the Banked" vision. Although it doesn't aim to replace banks, it is working to create tools, platforms, and mechanisms for businesses, banks, and governments to support decentralized finance.
  • Market Cap
    $1.120.794.572
  • Price
    $10.9836
  • Category
    Business services
  • Origin
    Thailand
  • Team Size
    25-50
  • Initial Release
    23/06/2017
  • 10-8 High Potential
  • 8-7 Potential
  • 7-6 Considerable
  • 6-5 Risky
  • 5-0 Scam
Satoshi Rating
  • Product Ratings
    7.6
  • Team Ratings
    8.0
  • Execution Ratings
    7.0
Product
  • The need for the product ⓘ

    9
  • Total addressable market size ⓘ

    9
  • Product/market fit ⓘ

    8
  • How is the product compared to existing solutions? ⓘ

    7
  • How difficult is to make the product? ⓘ

    8
  • Could this product scale? ⓘ

    7
About Product
OmiseGO describes itself as: “The answer to a fundamental coordination problem amongst payment processors, gateways, and financial institutions”. The product has several layers. POS-based decentralized exchange to trade any digital assets including cryptocurrencies, SDK for wallet providers, decentralized cash in/out integration layer (debit and credit cards, ATMs or over the counter) and Plasma architecture for scalability. All these parts support cryptocurrency adaptation and tokenization of fiat currencies. OMG aims to provide many financial services on the blockchain. Seeing where they want to go, we can say they are in early stages of product development.
Team
  • Team's previous experience ⓘ

    9
  • Does the team have a clear vision? ⓘ

    8
  • Is technical team sufficient for building the product? ⓘ

    9
  • Is the team active? ⓘ

    9
  • Is the team size big enough? ⓘ

    8
  • How is the team growth? ⓘ

    7
About Team
The management team is working together on the parent company Omise and already providing payment gateway service. They have an impressive board of advisors and strong ties with Ethereum foundation. Compared to existing players in finance and payment services, the team is small but compared to many blockchain companies team is strong.
Execution
  • Could this team get the product into a market? ⓘ

    8
  • Could they do it in time? ⓘ

    7
  • Did they meet previous deadlines? ⓘ

    9
  • Is the marketing strategy sufficient? ⓘ

    7
  • Team’s previous achievements ⓘ

    8
  • Strategic partnerships ⓘ

    7
  • Current market size ⓘ

    6
About Execution
They are using strengths of their geographical location and trying to fill a need in southeast Asia. Their experience and existing partnerships play an important role. In this region, they are exploring opportunities with possible partners.
Editor's note

It all looks promising, but the product and partnerships are still in early stages. If they can deliver on roadmap promises, we believe OmiseGo has potential to enable mass adoption in Southeast Asia and hopefully around the world. The project worth researching.

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Initial Rating: April 22, 2018

Last modified: June 8, 2018