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The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities

Author

Listed:
  • Erdogan Kaygin

    (Kafkas University, Kars,Turkey)

  • Yunus Zengin

    (Kafkas University, Kars,Turkey)

  • Ethem Topcuoglu

    (Kafkas University, Kars,Turkey)

  • Serdal Ozkes

    (Kafkas University, Kars,Turkey)

Abstract

Technological developments have always led to changes in all aspects of our lives. Crypto currency is one of those changes. As a result of those changes, thousands of currencies such as bitcoin, ripple, litecoin and ethereum have evolved and have found a use in business. The present study focuses upon Ripple and tries to explain its effects on banks and business theoretically. It has been stated that the money transfer performed through Ripple is faster and more economical when compared to present systems. Additionally, it has been realised that the present SWIFT system has been influenced by that speed and economy, and therefore taken considerable technologic steps with an effort to improve its system.

Suggested Citation

  • Erdogan Kaygin & Yunus Zengin & Ethem Topcuoglu & Serdal Ozkes, 2021. "The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(3), pages 153-167.
    • Handle: RePEc:cbk:journl:v:10:y:2021:i:3:p:153-167
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol10no3-9.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Ripple; Bitcoin; block chain; crypto currencies; banking and Ripple; SWIFT.;
    All these keywords.

    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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