Investigating the Bitcoin System and Its Properties within the Scope of Business Ethics


Digitalization has increased with globalization, the removal of borders between countries, the liberalization
of trade, and the rise in Internet and information technologies. In the digital world, many innovations
such as working at home without going to work, mobile or internet banking without going to the bank,
and shopping for food without going to the market through shopping sites have entered our lives. One of
these innovations is the Bitcoin crypto-monetary system, which is a cheap and easy money-transfer and
investment instrument and a unit of spending not connected to a central authority. This system has been
in our lives since 2008.This study aims to evaluate businesses’ and investors’ use and retention of Bitcoin
as an investment and conversion tool for money transfers and gold/foreign exchange, to evaluate Bitcoin
earnings within the scope of mining operations, and then to address these earnings in terms of morality
and business ethics. This evaluation explains the use of the Bitcoin system as a means of exchange in the
drug market, its current status within the drug market, its use in money-laundering operations, the instant
decreases and increases in its value, its use for tax evasion, its high electrical consumption, and its harm to
the environment. In addition, the innovation and superiority of block-chain technology has been discussed
and an evaluation has been made.


Business ethics Bitcoin Bitcoin and morality Crypto currency and moral values Bitcoin and ethics