An Analysis of Current Status of Crypto Currencies Over the World and Turkey

With the embracement of internet by people, today a good number of business model is carried on the cyberspace. Thanks to the time and cost savings, this alteration has become indispensable for individuals and businesses. In 2008, this course is become distinct with Bitcoin that was proposed by a person or group called Satoshi Nakamoto. With this unconventional currency, using cryptographic structures, the concept of the central structure that is the root of the payment process, has transformed into dispersed architecture and has created a great variation. Since 2008, a number of distinct crypto currencies have emerged based on the equal cryptography basis under the leadership of Bitcoin. Though Bitcoin is still a subject of controversy with the risks it brings with it, many studies on this matter have carried out in the academic and non-academic world. As the World, Turkey has also provided a rapid adaptation to this change. Even though it has not yet been formally accepted as a form of official payment, the online exchanges have become integrated into the daily life with physical crypto currency exchange offices. In this paper, by identifying Bitcoin the historical development of crypto currency ecosystem is examined and the latest progresses occurred in the World and Turkey are investigated