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Here’s Why We Think There’s Plenty More Run Room For OmiseGO (OMG)

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OmiseGO (OMG) broke a $1 billion market capitalization yesterday. The coin is one that has garnered an incredible amount of attention over the last couple of months is almost certain to be on the radar of most reading – especially those familiar with the initial coin offering (ICO) space.

Early morning on Thursday, however, OMG has taken a bit of a hit, currently trading for just shy of $9 a piece and off highs of $10.51 overnight.

OmiseGo Chart

OmiseGo Chart

The correction is likely nothing more than shorter-term operators pulling profits off the table and, if this the case, it might be a nice opportunity to pick up some coins ahead of a return to the $1 billion capitalization first breached last night.

So, is this the case?

One thing is for sure, OmiseGO has an awful lot going for it. The company is, in its own words, trying to ‘Unbank the Banked’ and it’s trying to do so using the Ethereum platform and the smart contract capability platform affords applications built upon it. It’s also got Vitalik Buterin, the guy who designed and built Ethereum, as an advisor. That’s a strong associative validation.

So what exactly is OmiseGO?

At core, it’s a platform that allows retailers to accept practically any sort of payment method, be that centralized or decentralized, through a frictionless gateway. That sounds pretty jargony but when you break it down it’s really not. Decentralized payment methods are things like bitcoin, Litecoin, etc. Centralized payment methods are things like PayPal and Skrill.

Right now, for a merchant in one country to accept either a centralized or a decentralized payment from a customer that is a resident of another country, there is a large number of parties that have to interact with one another in order to ensure things run smoothly. The higher the number of parties involved in the transaction, the higher the chance that something’s going to go wrong.

With its proprietary platform, OmiseGO is trying to change this.

The idea is that the frictionless element of the transaction derives from the platform’s ability to harness smart contracts so as to ensure that everything happens seamlessly and without the necessity for intervention by a third party manual actor.

All this is great but for this idea to takeoff, is going to need some pretty large scale enterprise adoption which, as many companies have found in this space, is hard to come by.

Many companies, that is, other than OmiseGO.

The company’s platform currently allows merchants to accept payments through ALIPAY, which is one of China’s most popular online payment methods and gives merchants access to over 450 million registered Chinese consumers.

Further, there’s a trial run in place (and active right now) with none other than McDonald’s Corporation (NYSE:MCD). That’s right, the McDonald’s corporation has partnered with OmiseGO across more than 200 of its branches in Thailand to test out the payment processing facility. Specifically, the Omise platform has been chosen by McDonald’s Thailand to be its exclusive payments gateway for its website, www.mcdonalds.co.th and the McDelivery Thailand mobile app.

That’s an incredible validation for a company of this size and of this age and its the sentiment surrounding this partnership (as well as a number of other operational milestones being hit) that has driven the company’s representative coin towards its $1 billion market capitalization right now.

So where does the OMG coin come into all this?

OMG will be used to state the network and, by proxy, to process transactions in the space. As such, the more transactions that take place over the Omise network, the higher the demand for OMG and, in turn, the higher the tokens valuation.

That’s why this one’s running right now and that’s why the current correction could be a great opportunity to get in ahead of some real upside long term.

We will be updating our subscribers as soon as we know more. For the latest on OMG, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of OmiseGo

Chart courtesy of CoinMarketCap

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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