Crypto needs less journalism and more visualization
With the COVID19 situation getting worse across the world, much of the crypto world has been deeply involved in addressing how the economic crisis could present a unique opportunity for cryptocurrencies to shine over their central bank counterparts.
One concern is about how physical currency can transmit the virus. Others are about how governments, especially the USA, are in control of the global financial system.
However, one thing that has yet to be addressed: can cryptocurrencies really replace traditional fiat if it hardly sees day-to-day use amongst the public?
A lack of visualization
Cryptocurrencies see a lot of mentions in media. Every day, media outlets pounce on the opportunity to address the volatile price movements of Bitcoin and the overall cryptocurrency markets, and the public tends to associate the adoption levels of cryptocurrency with the price.
However, the media has no incentive to report on or address cryptocurrency utility. Usage and adoption of cryptocurrency in everyday use could lend stability to its price, something which would ironically take away from the media’s preferred storylines — “get rich quick” is definitely an eye-catching headline and one that everyone understands.
In order for cryptocurrency to go above and beyond its current status quo as the world’s “digital gold”, it needs to be properly visualized and presented to the public in a way that they understand its purpose and usage.
Oobit xMAP — visualizing cryptocurrency opportunities and activities
xMAP is Oobit’s answer to enabling increased usage of cryptocurrency outside of trading. By deploying available points of interaction — both digitally and offline — we provide a visual map of how users can incorporate cryptocurrencies into their daily lives. The map will display cryptocurrency ATMs, merchants accepting crypto, dApps and Defi solutions, P2P trading hotspots and more to enhance the visibility of interactions within the community.
The reality behind cryptocurrency usage is that too much attention has been given to its use as a gold mine. Stories are always about rich bitcoin miners, wealthy early adopters, and its volatility becoming a way for professional traders to become rich overnight. We want to take some of the attention and focus it on improving the infrastructure behind crypto, the utility that will drive its adoption in the long run.
Behind the scenes, Oobit xMAP will also offer corporate solutions that enable easy onboarding of cryptocurrency-based functions. Merchants for example will be offered the opportunity for easy payment processing. Proper training on cryptocurrencies, coupled with user-side security of Oobit Wallet and Oobit PASS, merchants can easily take crypto at point-of-purchase with all necessary regulatory hurdles addressed by Oobit and convert it to fiat currencies immediately using any of the available integrated liquidity exchanges.
With xMAP, we believe that education for advanced users can be elevated beyond trading and into the scope of daily activities. Real-world benefits and opportunities such as smart-contract based salary payments suddenly go from becoming a hindrance to a convenience. Micropayments powered by blockchain become the new replacement for advertising-funded content. And perhaps most crucially, adoption for cryptocurrencies is now backed by usage instead of speculation.
Users can now trial the Beta for xMAP, which displays available cryptocurrency ATMs and P2P trading opportunities in their locality. We are gradually rolling out the functionality that will progress xMAP forward — join us as we map cryptocurrency’s future together!
Oobit Xmap
