The Problems of The Barter System in Turkey and The Solutions with Blockchain Technology

Abstract

: Problems arising from the intermediary role of fat money and confrmation mechanisms in the exchange of goods and services and the crises in the fat money-based fnancial system have led to the search for alternatives. It has revealed the organized barter system at the end of these searches. However, the fact that there are some problems in the organized barter system in general and in Turkey prevents the system from spreading and using it effectively throughout Turkey. The age of digitalization and the newly developing blockchain technology have required a level up in the barter system. The aim of this study is to reveal how a new barter system can solve the problems, taking into account the latest developments. In this way, it is to ensure that the barter system is used more effectively and widely in Turkey. In this context, the Blockchain Barter (BB) system, which has not intermediary but is much safer confrmation mechanism and allows trading without using fat money, is offered as a suggestion. The method of the study is literature review. Using the information obtained here, the BB system for problem solving was developed and demonstrated on a sample application. In addition, the relative advantages and disadvantages of fat money, barter and BB systems were compared. As a result, it has been understood that the proposed BB system solves many problems and is quite superior to other systems. It is believed that the study will shed light on new BB system research to be developed in terms of software.