The role of the Fintech ecosystem in the usage of blockchain technology: The case study of Turkey and Malta

The global market faces an advanced technological change, where blockchain is the most probable innovation to be implemented. With its decentralized system, blockchain promises to change our lives in many different ways, its potential has been identified as a transformative opportunity to change the current paradigm by many entrepreneurs, startup companies and governments. In my research, I have included the FinTech industry as an intermediary to take advantage of this opportunity. There are several markets that can be significantly affected and one of them is definitely the financial sector. Blockchain technology is expected to be a revolutionary innovation that will drive financial services in the coming years. So how can FinTech products/services help blockchain usage on Turkish market is the main thing I want to research in this study. Because this development is an opportunity for them to quickly integrate creative solutions into their operations that enable better efficiency and service to customers. This master's thesis examines the potential of the FinTech sector in accelerating the implementation of blockchain technology in the Turkish ecosystem and what can be learned from Malta 's tiny yet successful blockchain island. This research takes into account the primary and secondary sources I have gathered, which enables the analysis of two financial ecosystems. In order to answer the research question formulated in the thesis, a qualitative research and a comprehensive literature study was conducted. In addition, a questionnaire was conducted with thirty-eight fintech experts to study their opinions on this matter. As a follow-up on their in-sights, the SWOT analysis for Turkey was prepared. Malta is making efforts to integrate the Blokchain in its own ecosystem and Turkey has the opportunity to learn from their practical examples. At the same time, Turkey has a great potential and the practices of adopting this technology will help to become more competitive in the global economy. Keywords: Blockchain, Blockchain Technology, Blockchain Technologies, Financial Technology (FinTech), Finance Technologies, Blockchain island, Malta, Turkey