The recent epidemic has pushed many countries to investigate a cashless system. Accordingly, the first system that came to mind brought to mind digital currencies which are very good in terms of fully encrypted reliability.Digitized coins, which will replace paper or metal coins entirely in history, have been adopted by the governments of many developed countries, especially (Bitcoin, Ethereum, Riple, IOTA, dash, Litecoin, Zcash ) and have been actively used worldwide.
Although there is no cure for many infectious viruses or epidemics affecting the world today, the fact that paper and metal coins are an impressive element in terms of people’s health has shown digital money as a technological miracle despite the development of the field of Medicine. Accordingly, the reliability of blockchain, that is, distributed database technology infrastructure has taken. Bitcoin, the most popular of digital currencies, likewise uses this infrastructure. The scattered database can be defined as a virtual repository that is formed by the organized holding of the data that needs to be processed by the information processing sector. Depending on this, these databases are kept in the server or computer environment. So the center is held in a single point. This technology can keep scattered databases at a single point. This is an advantage, first of all, it makes any attack on the database very difficult to provide high reliability. To put it more simply, when a hacker takes over a single point, it can take over your entire database. However, because data is kept on many computers in a scattered database, system security is high. In fact, it is impossible to shut down your system because it is connected to many computers over a single network.The wallet section on the system keeps your money, other versions of wallets, block chain names can be seen by anyone who is a member of the system. The first formation of the digital currency started in 2009 with the Bitcoin currency and brought about different currencies. These coins do not have any central authority like the coins used today. What does it mean to be the center of Money? the properties of money can be changed by a legally organized Authority, which is owned by the public, meaning that existing authorities can increase the supply of money, they can narrow it, they can change interest rates at will, and paper money users can’t have instant information about it.
In digital currencies, the debts, receivables, transfers and their values can be kept in a common database thanks to the scattered database . This shared information instantly gives all users access to all information and eliminates the need for a centralized structure.
In other words, digital money can be sent without any intermediaries, no large sums, and you can use it anywhere in the world.
The digital monetary system with its blockchain technology infrastructure has been the preferred reason for developed countries, affecting the world in the Financial Field.
