Finansal Piyasalarda Blockchain Teknolojisinin Benimsenmesinde Kritik Faktörler: Best-Worst Yöntemi (BWM) ile Bir Değerlendirme
Critical Factors in the Adoption of Blockchain Technology in Financial Markets: An Assessment with Best-Worst Method (BWM)

Summary/Abstract: Financial markets are environments where competition is most intense and digitalization continues rapidly. Blockchain is presented as a technology that can enable major changes to be made in existing systems. In this study, the critical factors that stand out in the adoption of Blockchain Technology were examined with the BestWorst Method (BWM), which is one of the Multi-Criteria Decision-Making (MCDM) Methods. The BWM has been preferred for reasons of making fewer binary comparisons, its practical application, and providing the opportunity to make consistent comparisons. In the implementation phase, firstly, nine criteria that were effective in the process of adaptation to technology were determined, and the determined criteria were evaluated by experts consisting of industry professionals. Expert evaluations were analyzed using the BWM. According to the results of the analysis, "Accessibility and Usability" and "Legislation and Legal Regulation Competence” were the first two criteria with the highest importance among the nine criteria, respectively. The criterion with the lowest importance among the criteria is the "Transaction Costs" criterion. As a result, the most important criteria in the adoption of technology are the ease of access and use of the technology, and then the compatibility of the technology used with the current legislation and legal regulations. The criteria related to technology and technical issues, and finally the criteria related to efficiency, were found to be less important. However, the importance weights of the criteria are very close to each other, and it should be taken into account that the criteria are related to each other.

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