Omise's role in OMG

Why did Omise build a public network?

Logically Omise, as a payments provider trying to keep ahead of the market, needs to support any popular digital wallet platform that may emerge. Omise's customers must be confident that their end-customers' needs are met, no matter what payment method they have chosen.

Omise recognizes the need for infrastructure that nobody owns. While ostensibly, Omise could develop a centralized infrastructure for digital wallet interchange similar to existing card processors and clearinghouses, there is difficulty reaching sufficient stakeholder agreement for switching to a system around a single company

Similar to open source software, there is significantly more incentive alignment around developing an open, decentralized system whereby participants can have assurance that they are not obligated to trust a single vendor. Our research projects as Omise Blockchain Lab, which ran from 2015 to 2017, indicate strongly that this path will bring greater adoption to this platform.

​What will happen when the network is built? ​

Although Omise will use the network for their payments needs, neither Omise nor OmiseGO will own or control the network once it is deployed. It will be 100% public, owned by everyone.

Our long-term profit model will be a combination of validator fees through owning and staking some tokens ourselves, and the aforementioned anticipated growth of our payments business with network effects of the interchange network creating the long-term value. We may also provide consultancy services to companies to implement OMG blockchain services (not to be confused with charging fees to access the network, which is unilaterally not a thing).