An Evaluation on the Use of Blockchain and Cryptocurrencies

Blockchain technology is a system in which various verification and verification processes are carried out through computers connected to a network, without the contribution of official institutions. It is seen that blockchain technology and cryptocurrencies, which emerged in the 21st century, are rapidly turning into investment tools. In this study, cryptocurrencies that emerged as a result of the use of blockchain technology were tried to be examined based on the history of money. While cryptocurrencies get their power from people's trust, traditional money gets its power from the state that puts it on the market. In this study, the strengths and weaknesses of cryptocurrencies are explained and it is examined whether they can be used as traditional currencies in the future. It seems that cryptocurrencies are used as an investment tool rather than a currency. It has been observed that as long as people's trust in these currencies continues, cryptocurrencies will maintain their existence and their value will increase and decrease, and if the trust disappears, it has been determined that they will not be able to continue their activities.