A review of blockchain technology and its impact on the financial sector

The finance sector, which is based on knowledge, expertise and technology, is a sector that continues its activities by taking advantage of technological developments and opportunities, and is also under the pressure of these developments and is often one of the first implementers of these developments. As in every technological development, the blockchain technology, which has been growing rapidly by going through radical changes and transformations since the day it started to be heard in 2008, and the cryptocurrencies based on this technology are referred to as a revolution. The sector that will be most heavily affected by the transformations brought about by this technology and expected to continue in the near future is the financial sector. In this study, blockchain and cryptocurrencies are handled in the financial sector. With a qualitative research conducted in this direction, it is aimed to examine the possible effects, advantages and disadvantages of this technology on the financial sector. For this purpose, within the framework of semi-structured interviews, interviews were made with participants who have knowledge and experience about blockchain and cryptocurrencies and have a specific background in this regard. Findings obtained from these interviews were presented on the basis of descriptive analysis; It was concluded by summarizing according to certain themes. Based on these results, some inferences have been made regarding the possible effects of blockchain technology and cryptocurrencies on the financial sector.