Abstract:

The difficulties in the transfer of large amounts of physical money or the control of various authorities over electronic payment systems may limit economic activities. While technological developments have facilitated money transfers, central authorities’ control over electronic money transfers continues. For this reason, a new value exchange system, the cryptocurrency has emerged. Cryptocurrencies with their own working rules are systems that enable electronic payments between the parties without any financial instrument. The aim of this study is to explore the approaches of blockchain technology, cryptocurrency and countries around the world to cryptocurrencies. Although blockchain technology and cryptocurrency systems are quite new services, it is possible to be used in many areas of economic and social life. In particular, block chain technology is a new technology that will profoundly change traditional business models.