Daver, GizayYucesan, Mesut2025-01-272025-01-272019978-363178386-3978-363177588-2https://hdl.handle.net/20.500.12428/14287Although it has changed its form and shape, nowadays, money has three basic functions which are being accepted as a measure of value, being a means of payment, and being considered as a means of value storage. The developments in information and communication technology, the new world order and changed dimensions of trade, has revealed the concept of electronic money. This study evaluates virtual currency in line with the attitude of the European Central Bank. An integrated approach to discuss it in terms of energy management, risk management, and technology in real and financial sector transactions is chosen. An overview of attitudes of world countries towards virtual currency shows that it is not possible to make a standard classification yet. It can be deduced that an increase in income level and human development level draws societies away from repressive mindset against virtual money. Increase in electricity usage per capita is parallel with these and as for the relationship between virtual currency transactions and electricity usage, there is a more liberal attitude towards virtual currency in more technological societies. From the perspective of Turkey, electronic money is defined in Article 3 of Law No 6493 on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions. In Turkey, electronic money and all associated electronic money transactions are subject to regulation. This study examines the electronic money that has not yet been fully integrated to the world financial system and Turkish financial system. As in the example of bitcoin, the concept of electronic money is discussed in terms of adaptation to provide basic functions of money. Within this framework, electronic money and electronic money derivatives are evaluated with examples from the world within the scope of the effects of the derivative and option markets on the uncertainty and predictability. It also evaluates the innovations that can be brought to payment systems if the electronic money provides the basic functions of money. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2019. All rights reserved.eninfo:eu-repo/semantics/closedAccessElectronic Money Virtual Currency; International Financial System; Monetary Policy; TechnologyBook Chapter25392-s2.0-85112647281N/A