DOLAR HEGEMONYASI VE KRİPTO PARA MÜHENDİSLİĞİ ÜZERİNE TEKNOLOJİK RİSK ANALİZİ
TECHNOLOGICAL RISK ANALYSIS ON CRYPTO CURRENCY ENGINEERING AND DOLLAR HEGEMONY

Summary/Abstract: Aim: The aim of this study is to approximate the size of the US Dollar seigniorage and to assess whether this will be affected by the rise of crypto currencies. Method: In this multidisciplinary work, we analyze, particularly as yet unfamiliar, whether the digital/crypto money mechanism is potentially capable of undermining the hegemony of the US dollar in global terms at the conjecture of manifold concepts such as hegemony, paradigm crisis, general seigniorage and Gresham money theories. Findings: Today, the US dollar is providing an unequal advantage by its pervasive usage not only for national seigniorage but also for the use of reserve money, exchange instruments and value by other nations using global seigniorage. National currency of many developing countries such as Turkish Lira (TL) are suffering for continuous devaluation. That is why US government has acquired a paramount advantage that any other country cannot cope with. The national currencies in the manual environment also have to move to digital/crypto-centric e-government/MIS trends and methods in the same way. Particularly after the COVID19 pandemic, due to the risk of infection from paper money, there has been discussion over Bill of House in the US senate for the legislative structure that ease the usage of Digital Dollar. In addition to the claims/accusations made by reputable scientific authorities and politicians in many developed countries that COVID-19 has been artificially developed to create an environment for Industry 4.0 applications, to install microchips to people and increase the use of crypto currencies. Result: Blockchain technology based on crypto currency engineering is being used to prove the existence of an asset or a document at the same time with various electronic money applications called Bitcoin, which paves a new way that challenges national currencies under US Dollar seigniorage. It has been concluded that the crypto currencies have the potential to disrupt the countries' reserve money practices and the hegemony of US Dollar.

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