Blockchain Investor Analysis

OmiseGO

OMG
Current Price $3.73 (-6.02%)
OmiseGO is trying to bring the world of unbanked people a blockchain-powered, decentralized version of something like Stripe or PayPal. Established in 2017 by the Omise company, its positioned to help hundred of thousands of people in Asia send and receive money digitally.

Our Rating:

Market

Problem that it solves

OmiseGO provides the un(der)banked population with financial services without requiring lengthy KYC checks.

Customers

OmiseGO is primarily aimed at the unbanked populations of southeast Asia, but could be used by virtually anyone.

Value creation

If you own OmiseGO, you can perform transactions and accrue loyalty credit in connection with a variety of vendors.

Market structure

The market is wide and emerging, but it could easily grow and solidify to include merchants across the Asian region—or even the globe.

Market size

The potential market for OmiseGO is just right. It includes many players, big, small, and minuscule across the Asian region.

Regulatory risks

OmiseGO is highly susceptible to regulation because its focus is in the southeast Asian area, where each country has different regulations and, in some, there is still a lack of clarity towards digital assets.

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Competitive Advantage

Technology/blockchain platform

OmiseGO started out on the Ethereum network and now operates on its own blockchain.

Lead time advantage

OmiseGO isn't the first to come up with a solution to solve the problems of the unbanked. However, they are the first to be launched by a large, existing Asian payment solution.

Contacts and networks

OmiseGO is flush with solid contacts, from Vitalik Buterin of Ethereum and Joseph Poon, who helped form the Lightning Network.

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Management Team

Entrepreneurial Team

OmiseGO's biggest strength may be the track record of its founders and advisors. In addition to Buterin, they have his Ethereum teammate Gavin Wood onboard and other Ethereum heavyweights like Vlad Zamfir and Thomas Greco.

Industry/technical experience

The team has substantial experience in the industry.

Integrity

OmiseGO's team seems to be composed of stand-up folks, but the way they have pushed back deadlines and over-promised brings their integrity into question.

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Token Mechanics

Token required

You need a token in order to transact on OmiseGO's network. However, the same functionalities would also work with a pre-existing token.

Value added

For those who want instant payments without having to go through a bank, significant value is added.

Decentralized

OmiseGO is fairly well decentralized, but because it has rewards systems some of its benefits can be altered by centralized entities.

Token supply

There are 140,000,000 OmiseGO tokens.

Public exchange

OmiseGO's coin can be bought on several exchanges, such as Binance, Cointree, and CoinSwitch.

MVP

OmiseGo performed its first mainnet transaction in December 2019.

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User Adoption

Technical difficulty

OmiseGO's concept is attractive to users largely due to its simplicity.

Halo Effect

The connections with Ethereum give OmiseGO some halo effect.

Buzz

People are talking about OmiseGO, but much of the talk involves disappointment due to missed benchmarks on its roadmap.

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Overall Score

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Blockchain Investor Analysis

When you have a solution as good as what OmiseGO promised, you're going to inspire some optimism. Add to that the fact that the founding entity is already deeply entrenched in the e-pay economy, and the future looks bright. So far, however, OmiseGO has not lived up to its promise. It has only recently launched its mainnet and we are yet to see how the project will perform in the real world.

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