The dream of OmiseGo (OMG) to be the number one payment gateway has received a major boost after the platform inked a deal with the Thailand government. According to the deal, OMG will develop a payment system, as well as an identification system for the Thai government. This deal puts OmiseGo on the forefront of cryptocurrencies that have a practical use on a large-scale. The deal will see OMG platform make the lives of the Thai people easier by giving them a more efficient way to pay for services.
But the long-term impact of this partnership is even greater. You can expect other South-East Asian nations to adopt OmiseGo (OMG) as they try to move towards policy harmonization for enhanced trade and political integration. That’s especially because, China and the U.S have been making aggressive forays into this region. It’s only through unity that this region stands a chance to increase its bargaining power.
OmiseGo presents the best forum for such unity of purpose. That’s because it makes cross-border trade possible for small businesses without them having to deal with forex charges, which are a challenge when small businesses conduct business through the traditional banking system. In fact, this is the number one challenge to regional integration and growth, in the South East Asia region.