Author(s): Arif GÜLLER

The replacement of the primitive materials used as currency in ancient times by metals is considered the first innovation in money. The replacement of precious metals such as gold and silver, which has been used for hundreds of years, by paper money is considered the second innovation in money. During this period gold was used as a world currency. After these developments, there was no innovation in money for a long time until the Bitcoin and blockchain technology appeared. Innovation activities in money have gained a new dimension with blockchain technology. The Libra Association's project to create a global currency using blockchain technology has caused controversy. Sovereign states do not favor the implement of a world currency without their control. In this study the idea of a world currency, reactions of the sovereign states and impacts of the new world currency has been researched.


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