Watch Out For This Promising FinTech Startup: OmiseGO Wants To "Unbank The Banked With Ethereum"

There have been countless ICO's this year, countless new technologies and products that have been announced and countless new cryptocurrencies that launched on the market.
Since there are so many, I have started a series on my Steemit blog where I'll write a post about projects that stand out to me.
Once in a while, whenever a project stands out to me, I'll write a post about it.

One of these particularly interesting projects is Omise - a new payment technology based on Ethereum!

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Overview

Name: Omise (Omise Go)

Token Name: OMG

Blockchain: Ethereum

ICO: Concluded ($25 Million)

Founded: 2013

Launch: Late 2017 / Early 2018

Mission Statement: "Unbank the Banked with Ethereum"

Whitepaper

- Website -

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What is Omise Go?

OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies.

Omise is a Bangkok-based Startup that was founded in 2013.

With Omise Go, they aim to launch a wallet and payment network that lets people cash money in and out and transfer it to other users - all without the need of a bank account.

Usually, financial products aim to "bank the unbanked" - but Omise Go's mission statement is to "unbank the banked".
In true cryptocurrency nature, they want to allow their users the freedom of not having to rely on banks as a 3rd party.

The concept is similar to payment processor Stripe.

Some sources have already called Omise Go the "Stripe for Asia" - only with a decentralized, blockchain-based approach!
The wallet will feature fiat currencies as well as cryptocurrencies.

"Any user of Omise GO will be able to conduct financial transactions such as payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other services, in a decentralized and inexpensive way."

Crowdsale and tokens

The Omise crowdsale started in may this year, with a total amount of $25 million raised.
This was an important step for the development of ICO's since Omise already was a mainstream business and chose the model of an ICO for their funding process.

“We will be the first mainstream business to pioneer the use of a token sale to bring new product to market. For the public, this token sale provides an opportunity to share the benefit of a future Omise product, and later to participate in running the mobile money network itself.”

-Omise CEO Hasegawa

The OMG tokens have been added to Bitfinex last week and can now deposited in wallets.

Exchange trading featuring OMG/ETH, OMG/BTC, and OMG/USD will begin "shortly".

Team

The Omise Team features big names from the crypto scene, showing that the team offers a lot of experience like almost no other startup.
Japanese CEO and founder Jun Hasegawa has founded several tech companies prior to Omise, focusing on mobile payments, e-commerce and payment infrastructure.
COO and co-founder Ezra Don Harinsut is a knowledgeable trade manager and trade coordinator, with over 12 years of experience in the Fintech industry.
The managing director Vansa Chatikavanij previously worked at the World Bank Group, managing development programs focusing on infrastructure investments and finance inclusion.

The Omise Team also has a number of advisors, consisting of well-known figures in the crypto scene:

One of them is Vitalik Buterin, founder of Ethereum, and another is Joseph Poon.
He is the creator of the Lightning Network and was the principal author of Omise Go's whitepaper.

Conclusion

Omise GO is a very promising startup - it might just be one of the most anticipated projects in the crypto scene right now.

With big names and a lot of experience, the team aims high: they want to become the next big mobile payment processor for Asia, representing both fiat- and cryptocurrencies.
Featuring an Ethereum-based network and wallet, they want to offer customers an easy and quick way to handle money without having to rely on a bank as 3rd party.

I'm excited to see the exchange trading start this week, and I'm sure OMG tokens will be very popular!

Images: 1, 2, 3, 4, 5, Sources: 1, 2, 3, 4, 5, 6

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