M-Pesa is Smoking Bitcoin in Number of Transactions

  • Philip Ryan
  • February 14, 2014
  • 3

The media is abuzz with bitcoin stories, but the cryptocurrency’s number of transactions is essentially flat since its 2009 launch. Meanwhile, M-Pesa, the mobile money movement service that began in Kenya in 2007 and has since spread to other financially underserved countries, is seeing steady growth in number of transactions. The chart below from economist David Evans starkly depicts the different paths bitcoins and M-Pesa are taking.







UPDATE: Here is the data Bob refers to in his comment below.


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Philip Ryan is Associate Editor of Bank Innovation. He worked as a web developer for the Fund for the City of New York for six years, and was an HTML developer at Ocean-7 Development back in the go-go ’90s. He has more than 15 years' experience in online journalism. He can be reached at pryanrmg1@gmail.com.

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3 thoughts on “M-Pesa is Smoking Bitcoin in Number of Transactions

  1. This information is completely inaccurate. You should check your sources before you post. It makes you look inept.

    Here is the correct information from Blockchain. Which is only about 10% off of Mpesa.


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