OmiseGO is a combination of a blockchain, electronic wallet, and exchanger. The developers have combined all the possible functions in this project to make the transaction process more convenient. The platform simplifies the process of assets exchange between traditional systems, such as MasterCard or PayPal, and decentralized blockchains, such as Bitcoin. The main problem is that traditional systems are centralized and controlled by third parties. At the same time, cryptocurrencies and payment systems that were built on the blockchain remain insufficiently accessible for most of the people. OmiseGO project was created to solve these problems and make payments more convenient.
OmiseGo was established in 2013 in Thailand by Jun Hasegawa and Donnie Harinsuit. It was launched as a start-up to provide online payment solutions.
It was built on the Ethereum blockchain by a financial services company from Thailand called Omise. The OmiseGO (OMG) token was the first project based on the Ethereum blockchain which overcame a capitalization of $1 billion. In 2018, the token migrated to its own blockchain.
OmiseGo’s advisory team includes Vitalik Buterin and Gavin Wood, co-founders of Ethereum. Its Initial Coin Offering raised about $25 million.
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