Research on the concept of institution in the context of blockchain technology and its future in information society

Institutions that exist as an indicator of modern societies have become structures that have gained more place and are effective in social life especially after the 1990s. Considering the interaction between institutional structures and people, it is seen that there are structures that shape the functioning of social life in social and economic contexts. In this functioning, the main role of institutions is that they are reliable third parties that ensure mutual trust in the interaction between people. Today, the interaction between people has become so intense and complex that the institutions that have emerged as a solution to the trust problem have started to become a problem. In addition to the institutions that are slow for daily life accelerated by the development of technology and globalization, and the institutions trying to adapt to the process with technological infrastructures, a reliability problem has arisen because the necessary adaptation cannot be achieved. Blockchain is a new technology that can be used in many different areas from public institutions to logistics and can change the way they do business in these areas. Although it is often referred to with cryptocurrencies such as Bitcoin in the context of the financial sector, its areas of use are far beyond these. The most important point of this technology, which is created with the model of chaining data in blocks and using cryptography, without being connected to a center, is its reliability. Since the data chained in blocks are interconnected, every change made affects the entire data chain. For this reason, it is not possible to manipulate the data without leaving any traces. In this study, the changes in institutional structures are questioned within the framework of the new institutional theory, and how the operation problems in these structures can be eliminated by using blockchain technology.