CRYPTOCURRENCY: ARE WE READY TO DEMONETIZE THE WORLD?

With the advancement of technology and the proliferation of the use of the Internet, commerce that has been forced to change has led to a change in the form of money and has added new concepts and applications to our lives. The digital economic formation has arisen as a result of the entry of the world into the digitalization process and its reflection in the economy. Money gradually began to lose its physical existence and paved the way for the creation of a society that does not use cash through digitization. The last link in this evolution is cryptocurrencies with Blockchain technology. Cryptocurrencies can play an important role in the global economy due to their high transaction speed and low transaction costs. This study assesses the potential of cryptocurrencies as reserve money, the opportunities it offers and the challenges it faces. This study also discusses what the possible prospects for central banks will be if crypto money creates an alternative currency to existing currencies.