Usability of cryptocurrencies is taking a different angle in 2018. Changing lives of the less privileged in the society seems to take center stage. OmiseGo (OMG) and Ethereum’s Vitalik Buterin have thrown a challenge to the entire cryptocurrency fretanity by donating $1million OMG coins through the OmiseGo Foundation in support for refugees in Africa.
Refugee crisis is no longer a problem to wish away. These people need new homes and food, a problem host countries might never solve without help from other quarters. With donations, rebuilding homes ad lives can be achieved. However, the OmiseGo-Vitalik gesture does not only help the refugees, it will have an impact on the cryptocurrency uptake and growth.
The news announcement stated; “We have some good news to share: OmiseGO, with an additional generous contribution from Ethereum founder Vitalik Buterin, is donating the equivalent of $1 million USD in OMG tokens directly to refugees living in extreme poverty, and GiveDirectly will deliver those funds.”
Will the Donation Spike OmiseGo OMG Price?
With such a philanthropic gesture, OmiseGo price might have a new lease of life when all cryptocurrencies are recovering from the recent digital market crash. The platform is seeking to spread its presence in areas where acceptance and adoption is still at its lowest.
The funds will be under the custody of GiveDirectly, a non-governmental organization based in East Africa. These funds will be distributed in Kenya and Uganda. However, for OmiseGo, it will be a step forward in ensuring the banked are UN banked through their platform.
According to Buterin,” Many people also find it difficult to re-enter into a formal financial system, as they have fled their countries and often don’t have the appropriate local documentation to start the process of opening a bank”.
OmiseGo slogan “Unbank the Banked”
The OmiseGo (OMG) price in the last three days to a high of $12.01 could be an indication of their plans to get the banked on their side is bearing fruits. Africa still remains unexploited when it comes to digital currencies and real life use. By using a local non-governmental organization that interacts with majority who do not have access to proper banking systems, this is a catalyst to mass adoption if there is proper awareness.
OmiseGo is a peer-to-peer blockchain and is ideal for the African market. Its integration to major virtual wallets is also a plus given that most locals have access to smartphones. This will make easy for more users in the continent to enjoy real time value exchange at a low fee.
Working with GiveDirectly means better financial services provision for users with underdeveloped banking infrastructures. The NGO deals one-on-one with groups living in absolute poverty and unbanking them will transform their lives for good.by using locally available field data; GiveDirectly is well positioned to spread OmiseGo agenda.
The Future of OmiseGo
OmiseGo (OMG) is one of the simplest platforms that will change hoe business is done. You do not have to own OMG tokens out rightly, all you need is have some fiat currency in your smartphone, walk into an OmiseGo affiliate outlet and select your products and pay through your phone.
Almost to launch on the platform is the Stripes software. This system will handle all the user sales and transactions in a seamless way. The system will convert currencies t what the seller is accepting and you are done. All you need is to have digital coins or fiat and the transaction is completed in real time.
With the current price of OmiseGo (OMG) standing at $9.99, with gains of 1.77%, 0.96% and 1.57% against the USD, BTC and ETH respectively, the coin future is getting better. If the donation is anything to go by, the coin rural penetration should bring in the numbers that a platform focusing on the unbanking the banked deserves.