Status : Research
The Central Bank of Azerbaijan (CBA) is reportedly developing a Central Bank Digital Currency (CBDC) prototype, as announced in June 2022. However, the CBA Chairman, Alim Guliyev, had previously expressed concerns about the risks associated with CBDCs, particularly in terms of money laundering. The status of the CBDC project is currently undecided, and the CBA is still in the research phase. The use case, architecture, technology, infrastructure, and access of the CBDC are all undecided at this point. The CBA has not yet formed any technology partnerships or initiated any crossborder projects related to the CBDC. The timeline for the development and launch of the CBDC is not specified in the available sources.
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