OMC Group Sdn Bhd (“OMC Group” or “Company”), the blockchain arm of AIO Synergy Holdings Berhad (“AIO Synergy”), is set to offer more blockchain solutions to businesses, government and the community to help them operate in a world that is increasingly going digital.
OMC Group offers solutions through the Company’s own patented decentralised ledger technology (“DLT”) known as Authorised Proof of Capacity (“APoC”), which is the consensus mechanism used to run the OMChain for trust and verification purposes.
Jack Lee, CEO of the company said: “We are in the midst of witnessing how technology has evolved and how businesses are conducted differently from the way it was. The move to doing business digitally paves the way for the business we are in as blockchain strongly encourages transparency and immutability.”
“We are offering our blockchain solutions to serve merchants, which includes a decentralised ledger that is secure, trustworthy and transparent together with a community and ecosystem that we support through our hybrid Point of Sales (“POS”) devices that includes a mining feature rewarding users with points that can be used for transactions”.
The second version of OMC Group’s hybrid POS device together with hot wallet was launched in Malaysia in the second quarter of 2020 (“Q2 2020”) following sales of the devices in China in Q3 2019. The devices are now available in 11 countries in East and Southeast Asia. In total, over 29,000 POS devices have been sold together with the hot wallet.
In the pipeline is the launch of the Asia Blockchain Centre in Q3 2020, a hub supporting blockchain startups through education, providing solutions for businesses, government and the community as well as offering solutions on the applications of blockchain technology. A debit card will be launched in Q4 2020 while a series of awareness campaigns on blockchain will be held.
The OMC ecosystem comprises OmniChat, a text/video/picture messaging platform that has 20 million users worldwide; Omnipay, a peer-to-peer payment network with third-party payment license in China as well as more than 10,000 merchants on-boarded and; Omnity, a smart community management application that can securely store customer information and collect management fees with more than 48,000 daily active users.
The Company’s long-term plans include obtaining a license in Malaysia to operate financial services in 2021 including cross-border payment services and offering its own patented DLT technology, APoC.