Blockchain.info, one of the largest bitcoin wallets, has been named one of the 10 most disruptive businesses in the U.K., according to Virgin Media Business in its 20th anniversary edition of the Fast Track 100. The list includes companies with business models that are creating a new market or changing an existing market and grabbing market share from competitors.
Blockchain recently reported in a blog that it is reaching 10 million wallets. This follows the release of its third version of is flagship wallet, as well as a new partnership with Coinify in its effort to become more user-friendly and accessible to the mass market.
Growth Reflects Geopolitical Events
The blog noted that Blockchain’s growth reflects the impact of geopolitical events such as the weakening of the Chinese Yuan, the U.S. Presidential election and the Brexit vote. People are seeing bitcoin as a way to protect themselves against geopolitical risks.
While bitcoin has not yet replaced the established financial system, its activity is rising to record levels on Blockchain, indicating that people are seeking a more globally accessible financial system that does not exclude over a third of the world’s population.
Smith has taken a high-profile role in defending bitcoin against its critics and skeptics. Along with Arthur Levitt, Jr., former chairman of the U.S. Securities and Exchange Commission, Smith recently argued that those who say bitcoin won’t disrupt payments are wrong. They addressed skeptics’ key arguments, such as the claim that the U.S. and Western Europe are already well served by existing financial systems, that bitcoin can’t reach areas not served by the Internet, and that there are “last mile” costs for converting bitcoin to local currency.
Blockchain’s new in-wallet buying feature in partnership with Coiniify is designed to circumvent the traditional process of buying that typically sees high fees, identity verification hurdles and intermediary service providers. The new buying option, powered by Coinify’s payment platform, will facilitate the process of purchasing bitcoin with near-instant wallet funding via credit or debit cards.
TransferWise, a currency transfer firm, also made the Virgin Media top 10 list, along with Alpha Sights, BrewDog, Crowdcube, Ecotricity, LendInvest, Made.com, Notonthehighstreet.com and PureGym.
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