The major wallet company, which also acts as a block explorer and statistics aggregator, announced the milestone earlier this week via blog post.
The post recaps the company’s vision, history, and progress, as well as outlining a future mission to make entrance into the Bitcoin economy as easy as possible:
“What’s next for the Blockchain Wallet? We are going to stay focused on building the best first real bitcoin wallet for people anywhere in the world. Better internationalization, easier and more intuitive setup, and an easier entrance into the digital currency ecosystem. New users need bitcoin!”
Blockchain wallets account for a significant chunk of Bitcoin transactions
As one of the most popular Bitcoin wallet providers, Blockchain accounts for a significant share of the cryptocurrency’s volume. Over the last four years, the number of Blockchain wallets has risen from about 17,000 to more than 8 million.
These wallets generate the estimated 100,000 transactions per day. Depending on the day, that could account for between one third and one half of all Bitcoin transactions.
Earlier this year, Blockchain was named by the World Economic Forum as a technology pioneer, joining the ranks of such prestigious tech companies as Google, the Wikimedia Foundation, AirBnB, Mozilla, and Kickstarter.
This award was presented for Blockchain aiding in the “4th industrial revolution” for modernizing cross-border payments and bringing greater financial capabilities to the unbanked of the world.
Bitcoin still has ways to go to catch up with card companies
While Bitcoin has made great strides in developing as an integral part of the global economy, it still has a long ways to catch up to traditional payment processors in terms of sheer volume.
In 2010, VISA alone accounted for almost $3.3 trillion in transactions processed, while the nearest competitors MasterCard and American Express ranked in at $2.05 trillion and $702 billion, respectively.
Meanwhile, in 2015 Bitcoin accounted for less than 1% of the top card company’s volume, and about 4% of the number three processor.