OmiseGO primed for 2018! A breakdown of what we know.

January 31, 2018 /u/Beastly4k 0

I have been very focused on OMG for a while now and jotting down the interesting bits in wordpad whenever I read an article, listened to a podcast, watched talks/meetups and found something worth noting. I managed to clean it up a bit and format it for reddit the best I could after getting all the new information from the Town Hall Q&A last night. As talking about each point would make this 30 times longer to go through I tried to simplify it but there is much more information to OMG than just this and if you haven’t looked into it yet I think you should.


Omise/Omisego origins and involvement in Plasma Development

  • Omise is a payment processing company started in 2013 and is now making the move to the blockchain
  • Omise’s entire existing userbase will be supported by Omisego
  • Omise has over 50,000 merchants and over 420 million customers (some seen here)
  • Featured on cover of Forbes Thailand in October 2016 as “Fintech Rockstars”
  • Omise awarded the Digital startup of the year award in 2017 by Thailands Prime Minister
  • Thailand ministry of finance intergrated Omise Facepay technology
  • Blockchain lab created in 2015
  • Involved in Plasma development before its public announcement
  • Merchant volume of over $30 Billion from only what we know about
  • First to run Plasma and will provide scaleability to Ethereum
  • Wallet/SDK is open source and white label allowing any business or financial entity to use the network without a formal partnership (Anyone from a local bakery to Paypal and Visa could use the network simultaneously)
  • Staking rewards for validating transactions paid out in your choice of coin *May be limited choices
  • Dex that will provide crosschain transfers to any coins and provide cash in/out services
  • Currently working with many people on the development of plasma/omg including Joseph Poon, Vitalik, David Knott (Now an OMG Dev), Karl Floersch and more
  • Plasma to allow 1 million TPS from the start and theoretically scale to billions
  • Wallet release in Q1 with “conglomerate” integration within a month of release
  • Staking available in Q2
  • DEX TBA (See town hall info below)



  • Thomas Greco (Special Advisor) Advisor to the Interchain Foundation developing Cosmos Network, the Web3 Foundation developing Polkadot, and has previously served as an advisor to the Ethereum Foundation.

  • Vitalik Buterin (Proof-of-Stake Research: Scalability, Safety, Privacy and also Involved in development of Plasma) Founder of Ethereum

  • Joseph Poon (OmiseGO Principal Author and also Involved in development of Plasma) Lightning Network Co-Author

  • Karl Floersch (Proof-of-Stake Research: Cryptoeconomics, AI Ethics, Implementation and also Involved in development of Plasma) Casper (Ethereum) Researcher

  • Roger Ver (Decentralization Advisor, Human Rights Advocate) CEO of, First Major Backer of Earliest Crypto Startups

  • Dr. Gavin Woods (Consensus Technology Research, Development and Utilization) Co-Founder of Ethereum, Founder of Parity & Polkadot

  • Jae Kwon (Proof-of-Stake Research – BFT Consensus, Speed, Interoperability) Creator of Tendermint, and Cosmos Network

  • Vlad Zamfir (Proof-of-Stake Research: Economic Security, Consensus Protocols, Correct-by-Construction Protocols) Casper (Ethereum) Research Lead

  • Martin Becze (Scalability research: eWASM, VM’s, microkernels) eWASM (Ethereum Web Assembly) creator

  • Julian Zawistowski (Decentralised Economics Enthusiast) Founder of Golem

  • Ayako Miyaguchi (Regulatory Relations, Financial Inclusion, Crypto Social Impact) Former MD Kraken Japan, Founder of Japan Blockchain Association, Board member of Japan Fintech Association

  • Pandia Jiang (Community Relations, Crypto-Business Advisor) Founder of LinkTime

  • Ash Han (Distributed Economy, A combination of Crypto, Finance, and Technology) CEO of Finector, Co-founder of Cosmos, Angel Backer and Blockchain Evangelist

  • Prof. David Lee Kuo Chuen (Financial Inclusion, Microfinance) Professor of Quantitative Finance, Singapore University of Social Sciences


Lots of ties to big players in the financial and business industry since Omise started years back but for Omisego specfically it would be including but not limited to investments and partnerships from

  • MUFG Mitsubishi United Financial Group (2.4 trillion in total assets and invested into Omisego under subsidary Krungsri aka Bank of Ayudhya)
  • True Money (processes >4 billion usd across 6 countries)
  • SBMC (2nd largest bank in Japan)
  • Credit Saison (Third largest credit card company in Japan)
  • Ascend Capital (owns AliPay)
  • McDonalds Thailand
  • SBI Holdings
  • SMDV
  • Toppan Printing
  • Golden Gate Ventures
  • East Ventures
  • 500 Startups
  • More unknown partnerships due to NDA’s
  • Have met with Greylock (owners of Coinbase and more, more information currently undisclosed) *No official word of partnership
  • Jun has stated on twitter they are ~”Building relations / connecting 15 different financial institutions across 4 regions and more than 1000+ dev contributors involved”


More recent information from the “Town Hall Q&A 0x1” hosted Jan 30th on YouTube

  • Sdk open beta end of February
  • Talking with banks, merchants, hardware partners under NDA (Also mentioned in crowdsale document)
  • Vitalik, Joseph Poon, David Knott, Karl Floersch completed MVP (minimum viable plasma) during a short retreat late last year
  • DEX internal release milestone completed with blockchain running
  • DEX design complete starting to build on blockchain
  • Next milestone is internal testnet deploying nodes and connecting Plasma/omg nodes to ETH testnet
  • Plasma possible “much earlier” than first expected (most likely due to MVP breakthroughs)
  • Plasma final revision will be the same framework as MVP with additional features added as time goes on
  • SDK and Licensing open source under Apache 2.0 no fees to start building on the Omisego/plasma network
  • Working with strategic partners to issue FIAT backed tokens and cash in/out points(atms?).
  • Website redesign coming with an added community hub
  • Transactions nearly instantaneous on plasma, block time yet to be determined
  • Staking will be open and fair to everyone, they are taking measures against whales controlling the network
  • Omisego Advisor Ayako Miyaguchi will be the Executive Director at the Ethereum Foundation effective Feb. 1st

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Hawaii’s New Money Transmitters Act Will Require Virtual Currency Licenses

January 31, 2018 Jamie Redman 0

Hawaii's New Money Transmitters Act Will Require Virtual Currency LicensesThe state of Hawaii is planning to regulate the use of bitcoin and digital currencies that would require licensure to transmit cryptocurrency-based funds. Two bills introduced by a group of partisan Hawaiian lawmakers are focused on digital currencies as a monetary instrument under the state’s Money Transmitters Act. Also read: Coinbase Exits as Hawaii Requires Bitcoin […]

The post Hawaii’s New Money Transmitters Act Will Require Virtual Currency Licenses appeared first on Bitcoin News.

South Korean Court Rules Bitcoin Has Economic Value

January 31, 2018 Kevin Helms 0

South Korean Court Rules Bitcoin Has Economic ValueA South Korean court has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Bitcoin’s Status Re-Examined The Suwon District Court […]

The post South Korean Court Rules Bitcoin Has Economic Value appeared first on Bitcoin News.

Day 31 of $15,000 Deposit ‘On Hold’

January 31, 2018 /u/pleasehelpmekraken 0

So on Dec31 my wire transfer was put on hold. I emailed kraken, escalated my ticket, and waited until Jan 8 for a response. I was told by their team that the names of the account used to send the transfer and my kraken account did not match and to explain why. Well I took screenshots of both my bank account and kraken account to show they are indeed the same name. I also scanned the receipt from my bank for the transfer and it shows the same name as on kraken. I sent this all in my reply to the Kraken rep.

It’s now been 23 days since then. I’ve managed to contact u/kraken-Tyler on reddit and he just said I had to wait as they answer tickets in the order they are escalated. Have I not been waiting long enough for an amount this large?

This is also my second transfer with the exact same details minus the amount being sent. I’m not sure how it could have gone wrong. Either it’s their fault and they should be doing their best to fix it, or maybe something else is going on…?

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ICON announces partnership with massive billion dollar gaming company Smilegate

January 31, 2018 /u/stardawg777 0

ICON announced a partnership with Smilegate, a South Korean gaming company worth several billion dollars and creators of Crossfire, the world’s most popular FPS game with a userbase of 650 million players.

ICON is partnering with Smilegate to develop Stove, which Smilegate has described as a “next generation global social game platform” that will be run on the ICON blockchain. Smilegate is owned by South Korea’s richest man, Kwon Hyuk-Bin, who made his fortune with the gaming company.

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