Payment alternative in international trade: Blockchain

Cryptocurrency and smart contract system, which is very frequently heard today, actually constitutes a sub-branch of blockchain technology. In the process of adapting to technology in international trade around the world, the use of blockchain technology and smart contracts as a payment method is seen as a promising innovation. This study was conducted to measure the use of blockchain in international trade transactions and whether smart contracts contribute to Turkey's economic growth. An empirical analysis was designed in the study. Pairwise Granger Causality Test was applied to measure the effect of the use of blockchain technology in international trade on economic growth. As a result of the study, it has been determined that there is no causality relationship between financing expenses and exports. However, it has been determined that there is a bidirectional causality relationship between transaction times and exports, between imports and financing costs, and between transaction times and imports.