Abstract:

The changing needs of society and the developments in financial technology have revealed various forms of money over time. With the emergence of Bitcoin, cryptocurrencies have begun to be discussed again as a new form of money. The current value of the global crypto money market, which initially was of interest to a small group, has approached the national income level of developed countries. The increasing interest in cryptocurrencies has led researchers to investigate the blockchain technology behind cryptocurrencies. Blockchain technology, which emerged with cryptocurrencies, has found the opportunity to be applied in different areas over time. The technology vision created by the blockchain has revealed “Blockchain 1.0”, “Blockchain 2.0”, “Blockchain 3.0” and “Blockchain X” applications and research. The different application areas of the blockchain show that the blockchain promises a future beyond cryptocurrencies. In this study, within the framework of the descriptive analysis method, the historical development of money, the mechanism of cryptocurrencies, the regulations regarding cryptocurrencies discussed in Turkey, and attention is drawn to the future of blockchain technology.