While the usual drumbeat of cryptocurrency innovation calls for 'banking the unbanked', a startup called Omise actually has the opposite goal: 'unbanking the banked'.
And with the help of Joseph Poon, co-author of bitcoin's Lightening Network white paper, the Thailand-based payment gateway network is building a decentralized exchange based on ethereum to move toward that goal.
The decentralized exchange, which Poon has written another white paper for, is built directly into the company's upcoming proof-of-stake blockchain, OmiseGo. Once it's finished, users will be able to trade fiat currencies for cryptocurrencies, or exchange between almost any cryptocurrencies (say bitcoin for ether) without a third party like Coinbase or Kraken.
Read more here: http://www.coindesk.com/striking-twice-lightnings-joseph-poon-takes-on-ethereum-exchange-project/
Is bitcoin use legal in Thailand now? Or is only bitcoin illegal but everything else is ok?
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We need decentralised exhanges to make cryptocurrency a simple 'app'. Looking forward to what Poon can achieve.
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