Bilal Bağış

After the Spring 2022 Issue on Rethinking Environmental Security was released, Insight Turkey organized an online where experts discussed environmental security and climate change with a focus on cases from Turkey and beyond. As the Insight Turkey team, we hope that the panel's comments are informative and provide a better knowledge of the issues at hand. A video of the entire panel session is available on our YouTube channel

Blockchain is a relatively new technology and has its own weaknesses. DeFi, or decentralized finance, is one such area where there are numerous hacking attacks against digital currencies or cryptocurrencies. Cryptocurrency wallets especially hot wallets are often associated with cybersecurity risks. Ethereum contracts and DAOs are also frequently hacked. However, blockchain can still be used to improve security and privacy in finance, IoT devices, and even in healthcare. It will work much better than conventional password-based security systems. At a minimum, people won’t have to send over and record their personal data at some central repository. Data won’t be sent over to anyone or anywhere, just access permission will be granted whenever needed. It also provides anonymity, without revealing the true identity of a user. The book is highly recommended for experts, scholars, and researchers interested in digitalization in finance and blockchain technologies in general.

The centuries-old financial structure and the modern financial system are built on physical currencies. After the global financial crisis of 2008-2009 and the COVID-19 pandemic of 2020, along with the introduction of all-new cryptocurrencies and stable coins, even many central banks have voiced an interest in the introduction of digital currencies. Hence, the pros and cons of the new central bank digital currencies (CBDC) are the newest widely discussed topic. This paper focuses on the ways a new instrument, central bank digital currency (CBDC), is expected to improve the modern payment systems, increase the efficacy of monetary policy and ensure financial stability in the new era. The study concludes that although CBDCs might boost monetary policy effectiveness and financial stability, it is vital to reevaluate and thoroughly analyse the geopolitical, geoeconomic, and geostrategic implications and effects of having a CBDC.