Almost a year ago, OmiseGO(OMG) started working together with McDonalds Thailand following a partnership announcement from its parent company, Omise. This is a strategic move that is expected to raise the enthusiasm and expectation of OmiseGO’s community members and investors and McDonalds’ Thai’s value in equitable proportion. As it stands, Omise has successfully proven its potential to provide a real time payment and settlement option to ease the ledger keeping and accountability in fast foods. OmiseGO’s fundamental value has specifically stood out in the customer experience field as technology takes over payment methods.
“Online and offline are integrating into one. As retailers, you have to build that ecosystem where both sales channels work together seamlessly. For us, the role of customer experience in payments is all about faster checkouts and speedy processing time. These are the key things that are crucial to customer satisfaction.”
-Mr. Hester Chev, current head of McDonalds Thai
Many are the times crypto enthusiasts overlook the suitability of blockchain to all industries. However, the developments in 2018 within blockchain and sectors like hospitality and health have brought new perspectives to light.
OmiseGO (OMG) approach to venture into the fast food chain industry is among the few cases that show blockchain and crypto coins are not just a passing fad. Quick service restaurants like McDonalds are in the adoption phase of technological payment systems making OMG and the likes just ripe for the revolution. Furthermore, Mr. Hester Chev noted an improvement since the company started working with Omise,
“We are glad that we made the move. Things have been smoother for our customers and our team that works behind the scenes. We switched to Omise last year, and shortly after the transition, we saw a dramatic increase in credit card usage. We’re talking about the number of transactions that have close to tripled within the first 6 months. In April last year, we were doing around 5000-7000+ card transactions, this year, we’re seeing 18,000+ transactions.”
OMG/USD pair Technical Analysis
OMG closed yesterday’s candlesticks on a bearish trend after the market had rallied up during the morning hours. The coin is exchanging at $8.0149 right now and has established a new support level at $7.7260.
The highest high formed by the crypto in the past week was recorded in yesterday’s market at $8.28 although the hourly candlesticks are yet to confirm the higher resistance level.
OmiseGO (OMG) has a significant market cap dominance at over $1billion and 0.3818% of the total cryptocurrency markets. Consistency has maintained the digital asset among top 20 altcoins out of the over 1500 as of press date.
The cryptocurrency markets have been highly bullish in the past 2 days making huge recoveries apart from a few coins like Tether (USDT). OmiseGo was not left out in the bull-run and at the moment the MACD’s show that the crypto coin is on an uptrend with the exception of the 5 minute candlesticks.
Relative Strength index indicate neutrality with the 4 hour oscillator at 65.22. The market is on a bullish trend as it heads towards the overbought region. This is closer to the overbought region clearly showing the volatile momentum was high towards the green zone.
Both the Stochastic K & Commodity Channel Index show neutrality and the market is currently forming a ranging zone although the 4 hour candle stick indicate an ongoing uptrend.
The partnership with McDonalds Thai only serves to better the value of OmiseGO (OMG) in the short term and long term. OMG will need a very bullish market to see its price hit its all-time high of $26. The partnerships and blockchain development will also be key in helping the coin soar past its ATH.