Asia leads with Blockchain based projects and in the adoption of the technology. In the midst of all of them is OmiseGo (OMG) and Pundi X (NPXS). They are two of the most promising projects from Asia and what they are working towards not only affects them but could have an effect on the whole cryptocurrency industry. So, let’s dig into it and see what’s special about the two.
Pundi X Project And NPXS Future
It has been noted that unless cryptocurrencies find a way to be more accessible to users and become more compatible for day to day use, they will remain a niche for a few. For cryptocurrencies to really go mainstream, they have to be accessible and be acceptable in as many stores as possible. Unfortunately, not many cryptocurrencies are working towards this goal. However, this is primarily what Pundi X is working towards. The Pundi X platform allows developers to launch retail shops within the platform using the point-of-sale (POS) protocol. This is expected to make purchases using cryptocurrencies as easy as using a credit card.
Pundi X has gone on to make it easier for their users to use the cryptocurrency by introducing a mobile app from where users can buy and spend coins. Additionally, they have created a contactless payment card which works like a debit card and will be used to spend coins in retail stores.
Although the project was launched in Q1 of 2018, it has already partnered with Zcash, Nem, Qtum, Stellar, Achain, Verge and many more.
CEO and co-founder Zac Cheah says that the project will initially take an emphasis in Southeast Asia and particularly in Indonesia. The country has a huge number of unbanked people and the project will be looking to tap into that market.
Pundi X is one of the few projects that is truly pushing for cryptocurrencies to be adopted and its approach is already showing great prospects. It might take longer for the project to be adopted in Western countries but in developing countries, it is guaranteed to be a big hit.
At the time of press, the coin is trading at $0.001571, marking a 1% price surge in the last 24 hours. The coin has a market cap of $183,454,914.
OmiseGO Project And OMG Future
The OmiseGo project is older than Pundi X, having been launched in 2013. It currently operates in Indonesia, Japan, Thailand, and Singapore. The project is built on the Ethereum blockchain and it aims to be a 21st payment gateway. Allowing people across the world to send payments across any country (any currency), in a fast, cheap and secure way. With companies like SWIFT and Western Union taking days to send transactions from one country to the other and applying high transaction fees, OmiseGo has identified the need for a decentralized payment processing system that will make everything flow much more effectively. To truly achieve this, the project will not only be focused on its native currency, once the project launches its mainnet, it will also allow users to send and receive any currency they want, crypto or fiat.
The project has also identified that a large number of people living in developing countries are unbanked and wants to allow them access to financial services.
Although there are many projects trying to disrupt the payment industry, one thing has set OmiseGo apart, its team. The team is made up of the brightest and most experienced people in the cryptocurrency industry. They include Vitalik Buterin; Co-founder of Ethereum, Roger Ver; CEO Bitcoin.com, Julian Zawitsowski; CEO of Golem, and Joseph Poon; co-creator of the Lightening Network. No other project has been able to combine such an elite group of people.
The project looks promising and the team is like no other. This is one project that looks poised for a big success in the coming years, and particularly when the mainnet is launched.
At the time of press, OMG is trading at $3.65, recording a 0.51% price fall in the last 24 hours. It currently has a market cap of $512,194,033.