Tech dreams amid environmental crisis

Bangladesh is one of the largest clothing manufacturers in the world. According to the IMF, the country's GDP will exceed $467 billion in 2025. However, the average monthly salary of the majority of the population remains at 25-30 thousand, which makes talk about blockchain and digital innovations somewhat out of touch with reality.

The Bangladeshi government officially bans cryptocurrency transactions, considering them a threat to national security and linking them with the Foreign Exchange Control Act and anti-terrorism legislation. Violators face severe penalties, including prison terms. However, in December 2022, the central bank announced the launch of its own digital currency (CBDC), with the first pilot transactions conducted in January 2024.

Despite the official ban, the crypto market in the country exists in the shadows. An important role here is played by migrants who use digital assets to reduce costs when transferring money to relatives in Bangladesh. According to Triple-A estimates, about 2.55% of the population owns cryptocurrency, which is significantly lower than the figures in neighboring India.

In 2020, Bangladesh announced a national strategy to implement blockchain technologies in public administration, including digitizing land data and e-voting. However, five years later, there has been no significant progress. This experience is reminiscent of similar failures in Belarus and Ukraine, where plans for the implementation of technologies remain only on paper.

In parallel, the Smart Bangladesh Vision 2041 program is developing, aimed at creating a “smart” society and economy. However, the question arises as to who really benefits from these projects: will the lives of ordinary citizens improve or will digitalization only increase economic inequality?

The state actively supports the development of IT - technology parks and digital services such as Hi-Tech Park and e-government are being created. Private companies, including Grameenphone and bKash, also contribute to technological progress. International organizations such as the World Bank and the Asian Development Bank provide financial assistance and technical support. The Chinese company Huawei is actively involved in the construction of telecom infrastructure.

Bangladesh is among the countries with the most polluted air and water. The textile industry discharges billions of liters of polluted wastewater, deforestation has reached 75% in recent decades, and the Buriganga and Shitalakhya rivers are almost biologically dead. These are the consequences of unregulated industrialization, high population pressure, and corruption.

Garment manufacturers such as Ha-Meem Group and Beximco Textiles mainly work for export, supplying the fast fashion markets of brands such as H&M and Zara. This model brings profits to large companies, but does not improve the environmental situation or improve the living standards of ordinary workers.

The main issue is not the technology itself, but how it is applied. An environmentally responsible approach and the use of innovations in environmental monitoring, for example, with AI and drones, can help solve the accumulated problems. However, this requires active demand from civil society and small businesses, not just government or corporate structures.

At this point, Smart Bangladesh risks remaining a mere declaration without any real change if the interests of a narrow group become a priority rather than the people of the country.

Bangladesh is at a crossroads: develop technological potential without turning a blind eye to the environmental crisis, or continue down a path that leads to further environmental degradation and social inequality.