⚠️ HRF CBDC ⛓️🪙 alert from HRF for Sri Lanka (04-MAR-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 49.72%

One-Sentence Summary:

Central Bank of Sri Lanka's plans to introduce a CBDC by 2025 are mired in concerns over potential misuse for surveillance and corruption.

✅ The Central Bank of 🇱🇰 Sri Lanka has projected the launch of a CBDC by 2025 but the specific plans or developments remain undisclosed.

✅ The initial knowledge about CBDCs was shared with the public in 2020 via a news survey by the Central Bank. The timeline or development plans were not detailed.

✅ While central bank officials promise a CBDC roll-out by 2025, specific plans, timelines, or research direction remains unclear.

✅ 🇱🇰 Sri Lanka's score in Freedom House’s 2023 Freedom report points to prevalent issues relating to surveillance and corruption which could worsen with a CBDC launch.

✅ Sri Lankan authorities' ability to monitor communications without official approval flags CBDC-related privacy concerns.

✅ Widespread corruption in 🇱🇰 Sri Lanka, as reported by Freedom House and the U.S. State Department, raises questions about potential misuse of CBDC for political gains.

#HumanRights #CBDC #SriLanka #CentralBank #FreedomHouse #USStateDepartment

Does the potential misuse for surveillance and corruption outweigh the benefits that a CBDC can bring to 🇱🇰 Sri Lanka, and what should be done to address these potential human rights concerns?

Disclaimer: This is an AI-generated summary of the original text from HRF, forigve fuck-ups plox. If you find it useful, ⚡ the Tracker Bot because the AI and Cloud bits are not free to run.

Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3

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