, whose name we have started to hear frequently with Bitcoin
, stands out in terms of trust by not being connected to any center. With the use of this technology, transactions are provided by P2P (peer-to-peer), that is, the network protocol used to share data between two or more processors. If we consider the issue from the point of view of bitcoin transfer, all transactions made due to the distributed ledger logic with blockchain technology can be examined and approved by every miner . Since these transactions do not include the information of the receiver or sender, it does not pose a security risk and this is the biggest advantage of the technology. In addition, since the transactions are irreversible and unchangeable, problems that may arise due to third parties are prevented.
Blockchain technology contains solutions in which the functioning of the current financial system can be carried out faster and less costly. Due to such a structure, financial institutions and states have had to keep up with this digitalization and have started to take steps in this direction . For example, in the new period, institutions, which are the actors of the financial world, FinTech companies have started to enter into partnerships with the sectors that develop technology. Such partnerships have become imperative for the digital transformation in the financial world, thus creating a synergy between sectors.
Generally speaking, when we send any data over the internet, we actually only send a copy of that data. This is democratized knowledge. But when it comes to assets, there is no such thing as sending a copy. This has long been called “double spending” by cryptographers. Blockchain technology sheds light on the future with its secure and decentralized distributed ledger technology in order to prevent such situations.
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