New Technology Experience in Turkey: The Case of Bitcoin

Abstract

A Cryptocurrency is an important alternative for money transactions. It is also a digital currency based on mathematics and cryptography. There exist more than a hundred of cryptocurrencies such as Ripple, Litecoin, Namecoin, Dogecoin, Mastercoin, Zerocoin, etc. But the most arguable and dominant cryptocurrency is Bitcoin. Although it provides money exchange and payment process, based on peer-to-peer network, without any central authority, there are one million estimated users globally. In this paper, the familiarity of Bitcoin (btc) in Turkey was researched. A questionnaire was designed, which contains totally 29 multiple and 5-point Likert-scale questions about general concept of btc. It was answered by 250 participants, who have at least undergraduate degree and know btc as a currency unit. Collected data were analyzed by using descriptive analysis. The results show that btc was accepted as a trustable e-cash flow system by well-educated individuals.