gross payment volume
Chain's first chart (in US$ terms):
- Green area: Gross payment volume per day, in US$;
- Blue line: Average US$ per payment;
- White line: Median US$ per payment.
Chain's second chart (in coin terms):
- Green area: Gross payment volume per day, in coins;
- Blue line: Average coins per payment;
- White line: Median coins per payment.
gross payment volume explained
In the fiat-money world today, determining the total economic value of payments and productivity across the globe, whether that is in cash or credit form, is an enormous task. Paper bills, coins, credit cards, stocks, bonds, loans, derivatives and various other forms of economic communication, payment and ownership float around everywhere. It can be confusing, and adds to the opacity and vulnerability of the financial industry.
With blockchains, this can all change for humanity's betterment. If cryptocurrencies are adopted, the world will finally be able to see and understand supply and demand on a global basis—no middlemen or confusing economic research needed. And if you're thinking that there will be no privacy or security in such a world, there are bright people and applications suggesting otherwise.
These are some reasons why blockchains and distributed ledger technology are important.
The sum of all transactions will always add up correctly and transparently. Graphed above are daily, gross payment volumes—first in US dollars and then in each native coin (averaged out over 10-days for easier reading)—across a variety of cryptocurrencies.