Cash, Banks, and Cryptocurrency: Transforming the Financial Landscape While Questioning the Broken Market
As the world transitions from traditional banking to the growing adoption of cryptocurrency, it’s essential to examine how these systems compare. Despite the technological advancements and successes of blockchain, the cryptocurrency market remains riddled with issues that have yet to be addressed. Projects like OC-B aim to leverage media, company values, and cutting-edge technology to not only grow but also transform the financial landscape.
How Many People Still Use Cash?
Although cash is increasingly becoming obsolete in many developed countries, it still plays a significant role globally. In the Eurozone, as of 2022, about 54% of transactions were still made in cash. Cultural preferences in countries like Germany and Japan see 80% of transactions remaining cash-based. In regions where banking infrastructure is less developed, cash continues to dominate, particularly in rural areas with limited access to financial institutions.
However, the global pandemic accelerated the shift toward digital payments, with countries like Sweden on the verge of becoming a cashless society by 2020, when only 9% of transactions involved physical currency.
Who Uses Banks?
Globally, 76% of adults have access to banking services, while regions like Sub-Saharan Africa see only 55% banked. In high-income countries, 94% of adults have bank accounts, but there are still large populations that remain unbanked or underbanked due to issues like high costs, distance from financial institutions, and lack of necessary documentation.
Mobile money services are increasingly filling the gap in these regions, particularly in developing economies where banks are harder to access.
How Many People Use Cryptocurrency?
Despite the rapid growth of cryptocurrencies, adoption is still much lower than that of traditional banks. As of 2024, approximately 562 million people globally own cryptocurrencies, representing about 6.8% of the global population . The largest adoption rates are seen in countries with weaker banking infrastructure, such as Vietnam, Nigeria, and the Philippines. In the United States, 13% of the population is involved in cryptocurrency transactions.
The Problems in the Crypto Market: Why Is It Broken?
Although cryptocurrency markets generate billions of dollars, they remain highly unstable and risky. The biggest issues include:
• Volatility: Cryptocurrencies like Bitcoin are notorious for wild price swings. A single piece of bad news can cause a massive sell-off, driving down prices and leading to uncertainty.
• Lack of Regulation: The absence of consistent, global regulations means that users face significant risks, including fraud, scams, and theft. Unlike traditional financial institutions, cryptocurrency markets lack the protections needed to instill trust among everyday users.
• Security Concerns: High-profile hacks and security breaches have contributed to a sense of insecurity surrounding crypto transactions.
• Technological Barriers: The complexity of setting up wallets and understanding blockchain technology creates barriers for people unfamiliar with digital assets.
The real question, however, is: Why has no one sought to fundamentally change the system?
The cryptocurrency market seems content to thrive on speculation and volatility, but this model is unsustainable for long-term growth and mass adoption. Leveraging media, company values, and innovation, the focus should shift towards building trust and reliability within the market.
OC-B: Creating Stability in a Broken Market
OC-B seeks to address these issues by focusing on creating stability, security, and regulation—key factors that are often missing in the cryptocurrency space. OC-B is not just another digital asset aiming for speculative growth; it is carving out an entirely new financial sector, one that incorporates the best of blockchain technology with the reliability expected of traditional financial systems.
Leveraging Media and Company Values
One of the critical ways OC-B is building trust and expanding its reach is by leveraging media to promote transparency, education, and trust within the cryptocurrency market. OortX Media, for example, is playing a significant role in showcasing how blockchain can be integrated into media platforms, proving its real-world utility and use cases.
By aligning the company’s values with the mission of creating a secure and reliable financial system, OC-B is not merely aiming to be a part of the existing cryptocurrency market but rather to redefine it. The token’s growth can still occur at a rapid rate, but it is being built on a foundation of sustainability rather than speculation.
A New Financial Infrastructure
At the heart of OC-B’s mission is a new financial infrastructure that doesn’t just operate within the flawed crypto market but instead seeks to build a better one. Some of the key areas of focus include:
• Stability: By designing a system that insulates the token from market volatility, OC-B aims to replicate the stability of traditional banks and financial markets. This model can help prevent the steep declines in value caused by bad press or market panic.
• Regulation and Trust: OC-B seeks to implement clear rules and regulations to foster trust, allowing users to feel as secure as they would using a traditional bank. This transparency will help foster confidence, which is critical to widespread adoption.
• Real-World Utility: Beyond speculation, OC-B is being developed to integrate into everyday financial life, such as payment systems, savings, and financial services, demonstrating that crypto can be useful beyond its investment value. Through projects like OC-B, the token’s value and integration into the real world are constantly highlighted and updated.
Education and Awareness: The Missing Link
A major barrier to cryptocurrency adoption is a lack of education. Many people do not understand how crypto works or how it can benefit them in practical, everyday use cases. The OC-B team is working to educate the public on the utility of blockchain and the stability of its system, showing how it can become a trusted and reliable part of the financial ecosystem.
Conclusion: Can Cryptocurrency Become What Banks Are Today?
Cryptocurrency can become as widely accepted as traditional banks, but the industry needs to address its fundamental flaws—volatility, lack of regulation, and trust. By creating regulatory protections, education, and a stable financial infrastructure, projects like OC-B can bridge the gap between the traditional financial world and the future of cryptocurrency.
Cryptocurrency markets don’t need to continue on the same path they’ve been on. With the right leadership, regulation, and innovation, they can evolve into a trusted and stable part of the global economy, with OC-B leading the way.
