Technology is rapidly changing how individuals approach money, from creating simple solutions for getting rid of loose change to introducing completely new forms of currency, such as cryptocurrencies. Meanwhile, Blockchain.com has emerged as a premier company for managing cryptocurrency. The company has grown quickly since its inception nine years ago and plans to continue on this trajectory with the recent announcement of a strategy to get to 1 billion digital wallets by 2030. While Blockchain.com is only nine years old, it is still one of the oldest crypto companies still in operation, with a userbase just shy of 50 million people. The Historical Legacy of Blockchain.com and CryptoBlockchain.com introduced one of the foundational application programming interfaces (APIs) for crypto when it launched in 2011. Since then, companies like Bitpay, Coinbase, and Bitstamp have used the same interface to launch their own projects. Today, Blockchain.com sees about 1 billion API requests each day and accounts for more than a third of all Bitcoin transactions that take place on any given day. In 2020 only four crypto companies, including Blockchain.com, have had more than 100 million visits. Blockchain.com has had more than 105 million views (and more than 42 million unique visitors) since the start of 2020. Within a given week, the website serves new customers from more than 100 countries across the world. Blockchain.com has also played an important role in events essential to crypto culture. For example, nearly 2 million individuals joined the Blockchain.com block Explorer to watch when AntPool, a miner, committed the 630,000th block in an event known as the Halving. This event is the quadrennial reduction of the Bitcoin mining block reward. For many people watching, this was a momentous and encouraging event that speaks to the growing popularity of crypto and its increasingly important role in everyday life. The role of crypto may get even more of a jump start due to the unique situation created by the coronavirus pandemic. The Role of Cryptocurrency in a World Facing Coronavirus COVID-19 has had a remarkable and resounding impact on the world both socially and financially. Before the crisis, public debt was already hitting record levels. Now, debt has skyrocketed, creating a lot of anxiety. Unemployment has also hit record highs, so the concern about the economic future of the world is mounting. However, many centralized institutions have not responded meaningfully. People feel betrayed that they did not get more warning, and policies made to combat the economic fallout have fallen short. The federal government continues to print more money, and people are growing concerned about the possibility of steep inflation for many years to come. The solution to this economic crisis may rest, at least in part, with the Internet. The process of digitization, which was already underway before the crisis, has only become accelerated as a result of the crisis. The Internet is facilitating shopping, entertainment, and even work as people spend more time out of public places and in their homes. Moving forward, it would not be surprising for the Internet to develop its own financial system shortly as the entire environment goes global and economic opportunity becomes unbound from geography. Crypto is the obvious solution for a global financial system, especially as the average customer grows increasingly interested in Bitcoin and other forms of cryptocurrency. Blockchain.com Positions Itself to Become Premier Crypto CompanyIn a world ready to embrace crypto, Blockchain.com is positioning itself to become the leading provider of this service. The company has a unique philosophy that makes it stand out from others in the market. Specifically, it believes that people should have control over their finances and serve as their own bank. (Many other companies take a custodial approach and function more like a PayPal for crypto.)
However, Blockchain.com has made a different system work and proven that people can function as their own bank. This approach can help make crypto go more mainstream while also reducing transaction costs. Currently, Blockchain.com is in the process of improving its services and taking practical steps to improve the customer experience and pave the path toward a future build on crypto. Over the past two years, Blockchain.com has redesigned its user experience and recently unveiled it to users. For example, the company updated its Explorer service, which provides data for crypto, with a simpler and cleaner user interface for more intuitive navigation. The company also recently launched new charts and visualizations to improve its data products. Blockchain.com even revamped its core product, the Wallet, aiming to create the last digital wallet anyone will ever need with easy purchases of crypto and direct connections to individual checking accounts. The Wallet also makes it possible to hold Bitcoin in an interest account to earn money on holdings at a much higher rate than in traditional banks. Users can also borrow against their crypto and add other assets to the Wallet. Comments are closed.
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