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OmiseGo Participating in Its First AMA

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OmiseGo
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The objective of OmiseGo, as is known, is to amalgamate traditional financial system and blockchain technology and to ensure interoperability. Through their network. OmiseGo plans to use digitized financial tools to build a decentralized system where the user needs to open a bank account for financial freedom. A person should have financial freedom and bank accounts do not play any role in this, as per the OmiseGo team.

OmiseGo is currently ranked 21 on the coinmarketcap.com cryptocurrency list and has attracted many blockchain enthusiasts around the world. The OmiseGo team had recently decided to run an AMA (Ask Me Anything) to answer all questions their fans might have. Let’s take a peek into OmiseGo’s future through their clarifications.

Plasma or Cosmos

The OmiseGo team had announced in April 2018 that a “hard spoon” would occur between them and Cosmos. According to Jae Kwon, the CEO of Cosmos, a hard spoon is “A new chain that takes into account state from an existing chain; not to compete, but to provide broad access.” The hard spoon takes in the residue of a given token and then duplicates them onto another chain. Thus, duplicates would be created of all the OmiseGo (OMG) token balances onto a Tendermint chain. It will be connected to Cosmos.

The decision was taken by the OmiseGo development team such as to focus on the creation of Plasma decentralized exchange (DFX). The Tendermint team, for the time being, will work on Cosmos OMG DEX. The development team had assured in the AMA that Tendermint will support the OMG hard spoon project and is even confident that the results will even surpass that of Plasma OMG DFX. The team referred to it as a ‘healthy competition’. As per the AMA, the focus of OmiseGo has always been on increasing global financial freedom rather than on becoming the highest grossing blockchain company.

OmiseGo had replied to a Reddit user’s question of an advantage of duplicating DEX on Tendermint, “More DEXes means more optionality for users, and competition spurs innovation … All exchanges want to eat up as much liquidity as possible; ours will be no different. The two DEX’s will not be duplicated: the Cosmos OMG DEX is being designed and developed by Tendermint as a Cosmos zone, while the Plasma OMG DEX is being designed and developed by OmiseGO to run on Ethereum and scale using Plasma.” OmiseGo is currently exploring support in the SDK wallet for both the exchanges.

Marketing Strategy

Eager questions were raised in the AMA about OmiseGo’s marketing strategy, especially in the United States and Europe. OmiseGo had said that the team had been working hard to develop new relationships and technology and their marketing campaign had been quite successful in Asia. As the initial release of the OMG network progresses, the team has been focusing more on its adoption globally. Developing educational tools and support networks, and making connections with potential contributors are also being focused on currently. This basically shows that OmiseGo is going all the way for mass adoption of their project. As per the team, the OMG Network access points will ensure ease of use. But, OmiseGo is being careful about not taking up too aggressive marketing strategies.

“We’re building relationships, asking questions, and learning about the use cases people are looking for in order to build a platform that is as flexible and customizable as possible. At that point there is nothing to sell; there is simply a solid foundation on which any user or provider can build whatever they dream up, which begets a self-perpetuating cycle of awareness and adoption.”

Partnerships

Even though there was curiosity about OmiseGo’s upcoming partnerships, the team was bound by non-disclosure agreements and could not to reveal much. The team is also currently thinking about how to collaborate with mobile payment providers such that the users are in an advantageous position. OmiseGo team responded, “This includes ground research – for example, we are currently conducting a multi-year field study in Indonesia to better understand payment values and behaviors, existing infrastructure and the impacts that decentralized payment systems are likely to have on the environment.” Talks are also that the team is open to becoming a partner of ShinanCard. ShinanCard is a popular name in the banking and payments industry of South Korea. They are jointly working on the future of digital payments services.

Concluding Thoughts

There is the hint from AMA of OmiseGo that the release of OMG Network will most probably be in the third quarter of this year. The reason behind doing this AMA, as per the OmiseGo team, is to clarify any doubt regarding the integration of the present financial infrastructure and expecting more people to join the process and ‘profit from their value-add participation’. OmiseGo is all about building a structure that will facilitate free transfer of value and promote the freedom to use it.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore
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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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