There are many reasons why companies may wish to use OMG:
To move money quickly, both domestically and internationally
To gain a secure ledger for tracking assets across divisions of a large organization
To adopt next-generation mobile banking solutions
To enable central bank currencies to be issued digitally and improve the payments system within a given country
To allow payments and remittances in any type of asset
To create a loyalty points system for consortiums of brands
To issue digital gift cards onto a network which can support multiple wallet vendors
We are working to create infrastructure that will be useful to anyone in the fintech space, with much more than Omise’s own needs in mind. We believe that this framework not only provides much-needed leadership in the fintech space, but also provides a framework for emerging business models around diverse stakeholder systems.
These mobile applications, which hold digital representations of at currencies and other digital assets (e.g. loyalty, game points, travel rewards), are seeing widespread adoption, but face significant barriers around coordination. By building a staking token and blockchain backed by the open Ethereum network - the most flexible, proven blockchain technology available - we are doing our part to resolve these coordination problems.
OMG’s core software will be made available for free, including the white-label digital wallet SDK, which means these businesses will be able to take advantage of everything the OMG network offers without permission from OmiseGO or anyone else. It’s a level playing eld created for the benefit of users, not for the dominance of service providers.
We are confident that many businesses will see the benefit to their bottom line of increased interoperability and currency-agnostic asset transfer. We have already heard from many established and aspiring businesses who are interested in leveraging the network.