OMG | Omisego | Why it will EXPLODE in 2017! | Part 2

how’s it going guys scripted blood here for today and in this video I’m gonna talk about actually it’s a part two video on why Oh me so go we’ll moon and this video is actually going to be one of my let’s just say premiere research videos because it’s something that allowed the public the public is has not really addressed yet and I’ve been doing some research and I’ve been doing some digging around on a Mesa go and I think this is really what’s gonna catapult a Mesa go to potentially be the next neo in in this crypto space and again I did say it that here it is that this could be the next neo coin and for those guys who followed neo there was a period where it really wasn’t acknowledged as something serious and I think what music oh is a little bit past that phase but people are not really realizing exactly the potential and where it’s heading and so as I keep on doing more research I’m just like very very impressed and and also not only impressed but I’m very optimistic about Mesa goes potential future in the next year or two so let’s take a look and let’s see where this coin is gonna be is it gonna be the next nail we’ll see so the title of this video is going to be y ou music ou will moon and I just love doing these because you know thinking about the future is amazing and so it could happen it can’t happen but my bets are gonna be on Mesa go and the topic for this one is going to be decentralized exchanges coming in 2019 and so I’m gonna talk a little bit about why that’s an important theme here because we are having a tectonic shift right now in the crypto market because we are having huge issues with exchanges and also the regulatory space okay so before I start let me explain the relationship between Omi’s and Oh Mesa go and I know there are a couple of viewers out there who who wanted to know exactly what their relationship is so let me go ahead and talk about this first Ami’s is the actual parent company of a Mesa go and it’s located in Singapore and it’s been around since 2013 or so and what they did was this holding company expanded out into different little sub companies and these sub companies are the ones that will interact will the musical in the future and so if you take a look at the chart here the Omi’s holdings in Singapore spreads into Omi’s Singapore Omi’s Thailand Japan Indonesia Hong Kong and Omi’s Malaysia and what these are basically payment acceptance platforms and so what amis does is that it holds all of these together under one umbrella and then it begins to expand into its subsists subsidiaries and what ends up happening is that they can either interact together or they can basically overlap in their businesses now our musical fits here because it’s on the other side of the of the offense here in the sense that’s called au Mesa go which is pretty much an extension of the Omi’s system and it will utilize a lot of the holdings and parent companies that it’s actually in there there it’s basically called ad centralizing exchange Network so it’s really not the payment acceptance area but what it does is that it’s the network and it’s gonna use the ethereum blockchain to process the exchanges that are happening within the payment remittance services so you really need all three of these so Mesa go is not the end-all be-all there’s going to be another product that’s gonna come next and I put out there’s a question mark in here because this question mark really talks about decentralizing your cash in and out touch point so pretty much what this is is that there’s going to be another company potentially in the future they may branch out foamies and so we’ll see if they kind of do another ICO or it could be an extension of the O Mesa go project as well so but in either case it’s really an exchange network not necessarily Peyman acceptance area which is going to beat we’ll talk about in a little bit okay so the first thing I want to talk about is this whole jazz about plasma and so if you haven’t really heard about plasma and youth areum what a theorem is trying to do right now is create we’ll call a scalable autonomous smart contract and so Vitalik is is writing this paper along with Joseph poon which you guys already know is part of the old Me’s team musical team and what they’re trying to propose is this entire framework for incentivizing and enforcing execution of smart contracts and is you already know that smart contracts are one of the key drivers for the IC OS and then they pretty much work to a certain extent but with plasma what they’re gonna try to do is scale this out and fix all these issues that we have with youth area and so but Alec and Joseph are working together on try to scale this up because if ithi really see a theorem network it has to be able to process millions and billions of transactions every so in a very short amount of time and what this is going to do is that’s going to enable the blockchain to pretty much process that amount for financial applications and one of the things I like about cryptocurrency specifically companies that are working with FinTech is that if you’re able to use your application for some sort of financial service the sky’s the limit really because once you connect it with the main network you can monetize that very easily with commissions and fees and you know interchange Network fees and things like that now the smart contracts are incentivized because what ends up happening is that again through the proof of stake method they’re gonna try and incentivize theorem holders to either process the blockchain and all the computing power or they’re gonna find a little way to incentivize it so there’s really huge in terms of what plasma is gonna represent and ultimately enforce the transactional state transitions what that really means is that they will have to act as an enforcer so the way like to think of this is this is that whenever you’re getting into financial services specifically when you’re dealing with payment systems and processing your network needs to be very secure and it has to be very fast also ensuring privacy is huge as well because nobody wants to have their data out there especially if you’re a billion-dollar company like McDonald’s so when you’re dealing with these type of networks it’s really good to invest a lot of time and energy making sure that these smart contracts get executed efficiently because if they don’t what’s gonna happen and you don’t have an enforcement on that what’s gonna happens and networks eventually is going to degrade over time and it’s gonna be vulnerable to attacks and then you’re gonna have inaccurate Ledger’s whatever what are you going to call it so there’s a lot of things that can go wrong with these smart contracts and it’s good that they’re working on the plasma etherium so that they’re able to not only incentivize it and have people on the network but also to make this transactional seem that’s gonna be very important because there’s gonna be an implication to this later on as we move forward all right now let’s talk about what why plasma is important people are not really talking about plasma because if we take a look at their Twitter accounts that we’re talking about Oh Mesa goes plasma connection with aetherium and one of the reasons why they do that because when amis acquired pays by they what they really trying to do is penetrate into the payment processing system and without plasma you can’t make this work because even if you have the theorem network in there but it’s not being upgraded like with all these new features you’re gonna run into a lot of the problems that the traditional banks face especially when they’re trying to process all these payments and again the whole point is to decentralized everything so Visa MasterCard those those systems already in place and they’re centralized and they’re fast very similar to like ripple but if you’re able to use plasma on the etherium network that is open source and is decentralized that is not like a ripple type of network then you definitely have an edge because now you can really take advantage of the decentralized networks of you theory I’m in Bitcoin and really take it to the next level and anyway so there’s a huge thing going on right now that’s gonna happen in all Senate September where a Mesa go and olam are gonna meet in Berlin and they’re gonna talk a little bit about you know a couple of things they’re gonna all kind of sit down and they’re gonna talk about some of the technical issues and perhaps how to get this network up and running now remember I told you in the last video that golems founders were part of the advisory team for that and from my understanding is that they’re not directly contributing to the actual project or to the development but having these conversations with the golden team and the Golem project is going to be huge because I think that at some point there could have work together either in the tech area or somewhere in the business area because this is going to be huge in regards to plasma golem and no Mesa going so all three of these guys are kind of connected in many ways now the other one that’s going to happen is very important is that plasma needs to be done needs needs to be in effect because what a musical is trying to do is develop the OEM or Mesa codecs which is going to be their exchange where you can go from Fiat to Fiat now this is come to kind of something I’m getting really excited about because when they were talking about banking the unbanked what they’re really talking about if you really read between the lines is they are trying to replace an entire banking system okay now just kind of think of let that sink in a little bit the only way right now a lot of the companies are trying to do their their hole penetration into into the real world from crypto is that they’re trying to kind of work around the system right like ripple for example and maybe 10x and Monaco and token card all these companies are trying to work around them but what this company is trying to do here guys is that they’re trying to actually place the whole thing and what they need to do is have an exchange of all music codecs where you can actually have a tie bat currency and you can travel from Thailand to Japan and you can exchange the currencies immediately without having to go through crypto so you can think about it for a second has their gonna basically bankrupt almost every single currency exchange that you can think of now again this is actually aa nice so what they’re gonna have to do is integrate homies quit on Mesa go and this exchange that they’re probably gonna be building so that they can allow the Fiat to fiat currencies as well the other one that was really interesting and I think it failed to kind of explain this one is that 73% of Asians in that region do not have access to banking service now left this number is extract astronomically large I mean you’re talking about what only one in three individuals have access to banking well in the Western countries it’s the opposite probably but this is huge because when I travel to Asia all the time I always see people dealing with cash now imagine this imagine a future where oh me so codex is operating at full capacity and people don’t no longer have to use a banking system right so what these guys are trying to do is with plasma is that if they pull this thing off I mean this guy is going to be the limit because literally what they’re gonna do is that they’re going to create a banking system that is virtual and I know the very few companies are trying to do that and the last one what they’re trying to do with this is they’re trying to eradicate all ATM machines and brick-and-mortar banks so all I can say is that the real value is not so much on your musical wallet platform put in the reality of actually these other things they’re trying to do which is the decks and also the payment processing system because that again that’s going to be huge all right let’s talk about the layers here and the layers are going to be very important so oh music oh nice I’m just kind of clarify that one more time the role of amis in this entire ecosystem is to become we’ll call the acceptance layer and what they’re gonna try to do is that they’re going to the you actually need all of these layers intact so if you don’t have any one of these layers the puzzle falls apart so when you’re looking at an investment for a Mesa go you are investing in any subset of this entire ecosystem obviously all Mesa is going to be the Big Daddy which holds everything and then all these other sub entities underneath it but what amis does is that it’s going to be the acceptance layer for credit cards crypto and debit card it’s pretty much what it has is that it’s gonna integrate with the entire platform and it’s gonna allow people to pretty much pay with credit cards for any sort of objects and then build go into the on to the UMI’s blockchain and again it’s think of it as kind of like your main main bank you want to think about it where it will pretty much accept everything you know when you look at a credit car in the back there’s like a bunch of logos on it that’s basically what Mies is going to be on the second layer you’re gonna have the Oh Mesa go which is going to be the decentralized exchange network and that’s where it’s going to utilize plasma it’s going to you utilize so fast transaction speed it’s gonna have ESD KS and the API is to integrate with all the platforms that it needs to integrate with so think of this one as two kind of like the back end these are both backends and they’re gonna be part of this entire ecosystem where it’s going to have the network in other words I like to think of what Mesa go as like the highway where you get to travel from point A to point B and Oh Mesa is kind of like the gate that allows you to enter in of this highway so again think about it in that respect I think they’ll make a little bit more sense now the third layer ohoho the third layer that’s going to be the final layer that needs to close entire system and no Mesa go has not been able to do this yet they have not released anything regarding this and I was reading the white paper and there’s a lot of interest things are gonna come out with there now this is actually called a decentralized cash in and cash out layer and what that basically means is that that’s going to be where you’re going to allow ATMs to come in well the virtual ATMs where you put cash in and cash out and you’re gonna go in and in from the old musical network now basically what that really means is that this is going to be if you think of a freeway these are going to be your exit points in and out of the network and so you do need a decentralized area where you’re gonna allow to cash in and cash out now currently the way it works is that you can buy though musical tokens on in exchanges and you can go and you can put them in the wallets and then you can go and run around with your musical wallet and then buy your Starbucks coffee or McDonald’s or whatever and then you can get the loyalty points and then you can kind of have these tokens kind of float around but the problem with that is that you have to go to one of these main exchanges like for example Polonia extra bit tricks and by the Oh me so go Tok and right now there is no real way of getting the fiat currency in at least technically speaking because they haven’t really released anything in there that that shows me that they have actually done something like that now if they’re able to incorporate that into the musical platform or create another entity let’s just say another ICO or another company that does that and integrate that into all three of them then we can basically walk up to an ATM machine that says oh Meis on it put in a hundred dollar bill and then automatically convert it into anything you want it to convert whether it be a fiat currency whether it be crypto or whether it be any sort of either items and if you wanted to use credit cards you can – because you’ll have the old Me’s acceptance layer on there as well I think that’s where the real clincher is going to be and I hope that they’re smart about it and they introduce that into the musical network quickly and I personally think that they may just go a Mesa go part two and they’ll just go ahead and integrate that ok so here’s here’s the main issue really whole musical musical was an e wallet ok and one of the things that we’re talking about in their in their paper and then their in their website was that you have cross-platform issues what’s happening right now is that everybody’s developing their own wallets so let me give you an example let’s say for example I’m 10 X I’m trying to create my own wallet but I’m gonna create my wall the only four tenex tough so in reality is unless you’re in the entire ecosystem for 10 X you’re not gonna take advantage of really a decentralized world because you have to be a 10x member right so you gotta go 10 X coins you gotta do all this you get convert the currencies you put the cash in but what they’re trying to do here is that they’re trying to make it so it’s come very very decentralized meaning that it doesn’t matter what platform you use as long as you’re talking in the right currency you can enter into the musical chain and you can pretty much do whatever you want it to be so think about it as a final replacement for a fiat currency now again let that sink in a little bit because this is going to be huge right now the only reason why the US dollar is so important right now it’s not because we are the best country in the world who had the biggest military although that’s part of it is that our currency is accepted almost everywhere in the world everybody wants it then the reason why that’s the case is because we’ve literally created a centralized system but technically is kind of decentralized because the currency can flow in and out of any other country right with ease and it’s got a backing and things like that what a musical is trying to do is very similar is that this east centralized cash in and cash out functionality has to definitely allow the entry points from all different areas whether it be Thai bats Japanese yen Chinese yuan Malaysian Singapore whatever currency you want to call it they can come in and then that wallet needs to communicate with another wallet so in other words if you are in different platforms you have to be able to communicate on some level and what they’re trying to do here is trying to truly decentralize that entire system and it’s really called an interchange platform but in order to do that they have to decentralize all the cryptocurrencies as well and so again what they’re really trying to do here guys is they’re trying to a tackle polo bit tricks and basically break apart those central entities into fragmented pieces and that way you don’t even have to deal with them now the way they’re gonna do that is that they’re gonna do what call the proof of stake to fulfill the order books because right now if you go to bitch wrecks and go to Polo there’s a bunch of order books in here and is made by these market makers that supposedly have these orders but we’re you know what happens when you don’t have any market makers and in which we don’t encrypt oh is that if somebody comes in and buys out the whole thing then they pretty much can tank the price and manipulate it but what they’re trying to do here is they’re trying to use the proof of stake incentivizing the system and they’re trying to literally create their own exchange BAM that’s what exactly what I’m talking about so the latticed the last week we they did here and now that’s actually a tweet just recently where someone was commenting something about some news and when I had I picked this one up they said that there was definitely so much more news in September but they’re not going to be announcing any dates because just gonna kind of put it out there they’re still kind of finalizing the program but they mentioned that reread the white paper and I didn’t treat the white paper and what I saw was something amazing if they pull this thing off so here we go if the if they’re able to destroy literally the polos and the bit Rix’s and all the other decentralized exchanges they’re really technically doing what ZRX is doing or the 0x project is doing is technically d centralizing all crypto currency exchanges on top of these centralizing the fiat currency model and this is going to allow eth and BTC pair trading on the Lightning Network so again but Charlie Lee he LTC BTC Lightning Network o Mesa go right now you guys connecting the dots now ok let’s move on to our next one this is where the white paper kicks in now again this is straight off from the white paper I did the the white paper is super technical so I had to kind of break it down to little pieces the first thing on the white paper is that what they’re trying to do is were called a Bitcoin Clearing House okay now it works very similar to what you see right now in the exchanges but the difference with the Bitcoin Clearing House is that it’s truly decentralized in many ways and let me give me an example of how I interpret this so again if I make a mistake please let me know the Clearing House by definition is something it’s kind of like a third party that kind of clears in the real world it clears out certain transactions and so if you make a transaction you have to go through this Clearing House and then they have to kind of verify a couple of things and then they’ll return the check to you if it bounces or whatever now in this specific example they’re gonna be using bitcoins so let’s assume for example we have three individuals Alice Carol and Bob at any one given point in time Claire Claire was going to be selected either because she wants to be part of the Clearing House through proof of stake as a clean house between Alice the seller of let’s say Bitcoin and Bob the buyer a Bitcoin and what they’re gonna do is Carol is going to act as the mid mint mint person to verify in a force that the transactions are happening now again this is not third-party custodial because Carol does not hold the funds she technically just goes ahead and clears and make sure that the transactions are going the way they’re supposed to it’s very similar to what they do with the verification process when they transact Bitcoin and whatnot so the important thing about this is that Carol’s acting as an enforcement of the contract and again remember I was telling you guys before that you have to have someone either did enforce these since we don’t have miners and we don’t have any of that they basically have to verify these transactions out they’re gonna operate on the Lightning Network with Blackhorn and Bitcoin which is going to allow Alice to trans Lac transact the Bitcoin over to Bob and what ends up happening the beauty of this whole thing is that it could be Bitcoin – like corn Bitcoin – etherium you know as long as you get a base pair on there you’re pretty much acting as a exchange and so that’s what they’re trying to work on on the white paper and what they were mentioning was that that was kind of part what they were alluding to that we need this decentralized exchange okay so in a nutshell that’s pretty much what I’m talking about if you read the white paper on Oh music oh you’re gonna find at the very last two or three paragraphs something very peculiar okay the first thing is that they are moving towards expanding the in centralized exchanges and right now with the regulatory space that’s happening all the issues with the exchanges like like you know calling base bit tricks and all these other places where privacy is becoming an issue securities becoming an issue the hacking is becoming an issue you’re gonna see a demand for a decentralized exchanged more than ever before and as you already know Bitcoin really started from because of this decentralized idea and so this concept that Vitalik is trying to do along with a Mesa go and I’m pretty sure other ones like 0x project is there they’re really trying to reignite this whole idea of decentralization and and you know what’s kind of ironic is that although Bitcoin did start off with the centralizing the existing fiat currency Bitcoin was only a very small part of this whole picture and what a musical is trying to do something a little bit more ambitious not only are they already linked up with the payment processing systems but they’re already also deacons directing the next part which is basically the banking system and also the cryptocurrency centralized system so if you think about it this is really the evolution the true evolution of using crypto as a use case basis and if they are able to pull this off we’re gonna have for the very first time a decentralized a financial system that will not only trade between crypto and fiat but they will marry every single currency on the planet along with crypto and so if you don’t think that’s a revolution I don’t know what this is because I’m looking at this and I’m I can’t wrap my head around this idea that if they do pull it off they literally will almost replace the US dollar in terms of currency because they’re going to really act as the Clearing House they’re gonna act as a semi centralized exchanges they’re gonna act as payment processing all on this decentralized network and for me I’m just excited I’m super excited that this is something they can pull off now again there’s no working product for this part yet and that’s the reason why right now I’m beginning to understand and invest in let me say go because of that very same reason because people don’t really understand it perfectly yet all right okay so final conclusion Oh Mesa go is going to enter into my very long term holdings for the next couple years alongside Neil and again neo is still my baby but Oh Mesa go is going to be is going to enter into that long-term holding this is not something you want to trade in and out this is something you really want to keep for the long run alright clip the butt out have a great night

The OmiseGo 2018 Roadmap – 120

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