Azerbaijan's digital manat will feature strong security: encryption, multi-factor authentication, biometrics, e-signatures, and cyberattack defenses with user loss compensation.
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Azerbaijan's Central Bank has detailed a comprehensive security strategy for its digital manat launch. Prioritizing user safety, the plan incorporates advanced measures to protect transactions and digital assets from evolving threats.
The digital manat will employ a multi-layered security architecture, with advanced encryption safeguarding every transaction conducted within the new digital currency ecosystem. Recognizing the persistent and increasing threat of cybercrime, the Central Bank of Azerbaijan is proactively integrating robust authentication protocols. These measures include the implementation of both two-step and multi-step verification processes, alongside the incorporation of cutting-edge biometric verification and secure electronic signature technologies. This comprehensive approach aims to strictly control access and ensure that only legitimate users can engage with the digital manat.
To maintain continuous vigilance over the digital manat's operations, the CBA is establishing sophisticated real-time monitoring and control systems. These systems will provide comprehensive oversight of all transaction activities, enabling the swift detection and immediate flagging of any potentially suspicious or unauthorized behavior. Furthermore, the Central Bank is committed to proactively addressing future security challenges by planning the deployment of advanced technological solutions. These solutions will be designed with the capability to anticipate emerging threats and to automatically implement effective mitigation strategies, ensuring a resilient and secure digital currency environment.
A key element of the security strategy is the development of a dedicated framework specifically designed to counter distributed denial-of-service (DDoS) attacks and other malicious cyber activities targeting the digital infrastructure. To further fortify user assets, the CBA will implement robust financial security systems aimed at protecting digital wallets. These systems will also include provisions for offering compensation to users in the unfortunate event of financial losses resulting from successful cyberattacks, underscoring the Central Bank's unwavering commitment to user protection and trust in the digital manat.
Azerbaijan's proactive and comprehensive security measures for the digital manat set a strong precedent for future digital currency implementations, emphasizing user safety and system resilience.