Banks monopolize money. Their systems are turned off and their reliability cannot be verified by their users. The Blockchain cannot monopolize Bitcoin. The system is public and can be checked by anyone that the system is operating according to the protocol. Also known as the Distributed Ledger community.

Banks charge high transaction fees. Trading fees in Bitcoin are quite low.

The systems of the bank you trust may crash. However Bitcoin is traded on a distributed network through blockchain, so it is almost impossible for the entire system to crash at the same time.

The duration of high-amount transactions made by banks to any part of the world may take 1-7 working days. There is no such restriction in the Bitcoin application.

Banks have paperwork and bureaucracy. That means more workforce. In the Bitcoin Blockchain application, there is no paperwork. Bureaucracy is almost zero. The entire system depends on mathematical algorithms and encryption mechanisms.

The procedure of printing money by central banks is confidential. The amount of Bitcoin to be printed over the years is certain and does not contain the concept of inflation.

Most importantly, the functioning of the existing banking system can be manipulated. Blockchain Technology, on the other hand, is almost impossible to manipulate.

The existing banking system is the past. Blockchain Technology is the future.

As I mentioned above, Bitcoin is only an application for the banking and financial sector. The main issue I want to talk about and focus on here is Blockchain Technology, not to denigrate the existing banking sector. On the contrary, today, especially in America and Europe, large banks are working very hard to integrate their infrastructure into the Blockchain Technology infrastructure. We can think of the importance of Blockchain Technology as follows:

“All systems and sectors that contain any intermediary or contract element can be integrated into Blockchain Technology.”

That's why this technology is revolutionary. Work times, processes and bureaucracy can be completely minimized. The priority of democracy and consensus can be achieved. Quality business processes can be created, in which objectivity and employment contracts take their first place. Instead of the interests of certain individuals and institutions, a mutualist order can be established in which all the people and system users can benefit.

Of course, in practices where this theoretical knowledge is reflected in the real world, we will encounter wrong examples and systems. Even in Bitcoin, many suspicious approaches and events took place in the beginning. However, when compared to the existing system, the rate or attempt of abuse and irregularity is very low. In addition, this system is open to the public, development and future.

There is only one thing that is certain and clear about Blockchain Technology: "The element that creates the trust mechanism is not people, but mathematics and encryption algorithms".