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

Erdogan Kaygin (), Yunus Zengin (), Ethem Topcuoglu () and Serdal Ozkes ()
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Erdogan Kaygin: Kafkas University, Kars,Turkey
Yunus Zengin: Kafkas University, Kars,Turkey
Ethem Topcuoglu: Kafkas University, Kars,Turkey
Serdal Ozkes: Kafkas University, Kars,Turkey

Journal of Central Banking Theory and Practice, 2021, vol. 10, issue 3, 153-167

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.

Keywords: Ripple; Bitcoin; block chain; crypto currencies; banking and Ripple; SWIFT. (search for similar items in EconPapers)
JEL-codes: M15 M21 M48 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:10:y:2021:i:3:p:153-167

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