THE APPLICATION POTENTIAL OF THE BLOCK CHAIN TECHNOLOGY IN FINANCIAL MARKETS
Institutions and real people need to be able to manage the change that comes with financial technology. Finance and technology are two dynamic elements of life. Being able to execute financial operations independent of place enables direct communication between people. The basis for this kind of a f...
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| Autores principales: | , |
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
| Publicado: |
Fırat University
2019
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| Acceso en línea: | https://doaj.org/article/1c1668484e234782899b0a0963c1f03c |
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| Sumario: | Institutions and real people need to be able to manage the change that comes with financial technology. Finance and technology are two dynamic elements of life. Being able to execute financial operations independent of place enables direct communication between people. The basis for this kind of a financial technology can be formed by the distributed financial database (blockchain), which includes a financial technology architecture and its management strategy. The blockchain also forms the basis for the digital currency bitcoin, and brings focus to the commercial life itself, as it makes economic mediators such as banks, corporations and states obsolete. Blockchain enables transaction verification from different multiple sources and transparently keeps account records. Thus, it decentralizes the trade and enables no mediator interaction between sellers and buyers, a system that is bound to be common in markets. Existence of no authoritative corporation or mediator, no cost money transfer and the verification from multiple sources are all assets that enable trust and fast operation in the blockchain technology, as it becomes more and more popular. With this study, the digital account function called blockchain is discussed to be used in financial markets and national/international trade. To this end, how the blockchain works, data integrity that it provides, its availability and reliability, as well as its applicability to the trade are discussed. |
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