OmiseGO Update: Fuseki Milestone and Cash In / Cash Out Details

In Blog, OMG Network by OMG Network

OmiseGO SDK Closed Beta

Today the OmiseGO SDK has officially moved from alpha into closed beta. This is Fuseki on our roadmap.

As a reminder, the OmiseGO SDK is a code framework on which developers can build wallet applications that will eventually interact with the OmiseGO blockchain.

We are also proud to announce the OmiseGO SDK is in the hands of one of our strategic partners, a huge multinational company that will help us develop one of our first live use cases.

Furthermore, we would like to extend an invitation for keen developers to sign up for our OmiseGO SDK closed beta.

We will be accepting applicants based upon their background and their potential to contribute to helping us get the SDK ready for open beta and then release. We are seeking people to provide feedback on all aspects of the development process: documentation, ease of use of the API, code style, code quality, etc.

The beta version of the OmiseGO SDK contains:

  • A self-deployable OmiseGO API service
  • Multiple language bindings for interacting with the API
  • Demo iOS and Android app that demonstrates how to integrate the OmiseGO SDK

We plan to work closely with our closed beta invitees to gather feedback and get ready for wider adoption. We expect to support them through the SDK development process and expand our documentation to be more self-serve once we enter open beta.

Our next milestone is Sente which will be a full release of the code in an open beta.

Cash In / Cash Out Details

73% of Southeast Asia is unbanked. That means a majority don’t have access to traditional banking infrastructure such as cards, loans, etc and primarily use fiat money for everything from getting paid to buying groceries.

But, everyone has a smartphone and many companies have started building “e-wallet” apps where one can walk into a convenience store, give the teller cash, and it gets loaded onto a siloed utility app to pay the monthly utility bill.

Another well-known example is the Starbucks app, although dealing with cards, it’s an example of a wallet application that money goes into but cannot get out of besides paying for coffee.

These apps all exist on a “closed loop” payment infrastructure. We want to open up these wallet siloes and have wallets exchange with each other. We believe this will make users happy and increase merchant volume.

Our goal with cash in and cash out touch points is to create a network of banking, hardware, and retail partners where users can deposit and withdraw their cash. The cash becomes tokenized on to their wallet application of choice, and is immediately exchangeable for other tokenized currencies and assets via the OmiseGO blockchain.

With integrated merchant mobile wallets, a decentralized exchange on a blockchain, and finally cash in / cash out touch points this fulfills the final part of our mission to unbank the banked. In addition to servicing the unbanked, what this really provides is an alternative to the current banking system. A free and open financial service network to all people, whether or not they have bank accounts.

Our ambitions are global, we are in active discussions with business partners and unfortunately there is not much we can publicly share. These discussions can take a very long time but rest assured, the talks have been very exciting for everyone involved.