Should You Be Investing In OmiseGo?

Cryptocurrency Brokers

Back in 2017, just before the massive bull run in the cryptocurrency space, there was one token that was held in the highest possible regard and looked to be one of, if not the most promising token to be released today and that token was OmiseGo.

The technology behind the token is being developed by Omise who are currently the largest payment processing company in Thailand. The idea behind the blockchain project is to help Omise reduce the fees that they have to charge their merchants while also helping to speed up transactions.

In addition to this, Omise are also planning on creating a decentralized exchange as well as a front end e-wallet suit where people can trade their loyalty points with other people. They released Go.exchange, their centralized exchange a few weeks back and plan to move that over to their blockchain to act as a decentralized exchange in the future.

OmiseGo are also developing the Plasma scaling solution for the Ethereum network too. Although they have only just released their main net alpha test coming in at around 1700 transactions per second, both the OmiseGo leadership as well as some Ethereum senior leadership are confident that the Plasma chain will eventually support over 100,000 transactions per second. This will make it quicker than its largest competing service, Visa.

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The potential for this project is huge and we feel that the OmiseGo token can easily become a top ten and potentially top five token by market cap. That said though, the project has been set back multiple times now with more delays expected by the community too. On top of this, the task that the OmiseGo team are trying to fix is very complex and will take a whole bunch of time and effort with a risk that they may fail too.

With the current price of a single OmiseGo token being around the $2 mark we feel that it definatley has the potential to increase in the future. Although Omise initially stated they would move all of the merchants who use their payment processing system over to the OmiseGo network when launched, they have since change this to say that companies would have to voluntarily move over.

On the flip side of this though, it is very likley in our opinion that many of their existing merchants will end up moving over to the OmiseGo network as it has the potential to be much cheaper while also much quicker than the current solutions on the market.

If this does happen then many people predict that a single OmiseGo token has a base value of around $10-$20 just from the current business Omise have. Once the technology has been proven we suspect that many more merchants will want to move over to the OmiseGo network to reduce their costs and increase their profits that can push this price point much higher.

The video below offers a price prediction for OmiseGo if all of the above happens and the OmiseGo team are able to complete the project successfully.