OmiseGo Opened Plasma MVP Repository

OmiseGo announced that Plasma MVP repo is available on GitHub and the developers are working on the project which should bring a scalable on-chain exchange without sacrificing security
18 January 2018   271

Plasma is project based on blockchain technology developed by Joseph Poon and Vitalik Buterin. Plasma uses child chains reporting to root chains in order to increase transaction throughput without any of the safety concerns that usually come with using smaller chains. As it is stated by the developers of the project, OMG exchange was created in anticipation of Plasma.

Plasma will be used to support a scalable, fully on-chain exchange aiming to make it entirely secure.

The principles of Plasma work are the following: to perform a deposit, users should move assets from a parent chain to a child chain by transferring them to the appropriate Plasma smart contract on Ethereum.

At the moment of press, these are main market parameters of OmiseGo token:

  • Average price: $19,00
  • Marketcap: $1 939 237 062
  • 24h volume: $111 646 000

Omise Partners Thai Government on KYC Program

Thailand move forward to become one of the earliest countries to officially implement blockchain technology
19 February 2018   280

According to the news, today Omise and the country’s Ministry of Digital Affairs had signed a Memorandum of Understanding. The two parties will collaborate to develop a nation-wide digital identity verification and online payment system.

With the use of Omise infrastructure, the Thai government will provide its citizens with a National Digital ID. It will reduce fraudulent behavior online and protect consumers. The system will also make online transactions more convenient, faster and more efficient.

OmiseGO founder Jun Hasegawa stated in his Twitter that the positive impact blockchain technology could have on Thai citizens.

At the moment, governments all over the world are weighing up blockchain advantages. The implementation of blockchain technology will likely take several years. However, today’s announcement is a sign that blockchain integration can be  made much more quickly. Digital identity verification is a central concern for governments, who are worried that cryptocurrency offers a way for individuals to circumvent financial legislation.