Development and accounting of cryptocurrencies
MetadataShow full item record
CitationKüçükgergerli, N. & Atılgan Sarıdoğan, A. (2022). Development and accounting of cryptocurrencies. In E. Alsu (Eds.). Current financial studies volume I (pp. 77-88). Iksad Publications
Money is a medium of exchange used to carry out economic transactions. Money is also a means of accumulating value. Today, developments in software technologies have also led to the development of electronic payment tools. Today, electronic money with cryptological features is an important means of exchange for economic transactions. Çetinkaya (2018) stated in his study that payment systems and payment instruments continue to diversify and evolve to meet new user needs arising from emerging financial markets. Çetinkaya (2018) stated in his study that virtual currency can be seen as an asset type that is shaped by new consumer demands that traditional payment instruments and financial services have difficulty meeting. Çetinkaya (2018) also stated that cryptocurrency; It refers to the virtual currency used through the internet, not affiliated with any central authority or intermediary institution. Cryptocurrencies can only be extracted and used through passwords from virtual wallets where they are placed using certain passwords. Kesebir and Çağdaşer (2019) stated in their study that countries have not yet made an effective regulation against cryptocurrencies. The element that ensures trust in the crypto payment approach is the system that offers a digital signature chain.