The digital transformation and the inclusive economy: navigating the risks

The article examines the paradoxical relationship between the development of an inclusive economy and the emergence of digital neo-feudalism. While central bank digital currencies (CBDCs) and asset tokenisation are presented as instruments for enhancing financial inclusion, reducing transaction costs, and supporting social stability, they simultaneously create unprecedented opportunities for state and corporate control over economic activities and personal data. The research highlights the dual nature of digital financial innovations: on the one hand, they democratise access to financial services and stimulate the development of small and medium-sized businesses; on the other hand, they concentrate power in the hands of central banks and digital platforms, fostering new forms of dependence. The study employs theoretical and comparative analysis to show how the combination of state regulation, Big Data, and technological monopolies can reproduce hierarchical structures reminiscent of neo-feudalism in a digitalised society. The findings suggest that the path toward an inclusive economy requires critical attention to ethical and institutional safeguards to avoid the risks of digital authoritarianism and the privatisation of social control.