⚠️ HRF CBDC ⛓️🪙 alert from HRF for Antigua and Barbuda (12-JAN-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Launched

CBDC Launch: 2021-02-28

CBDC Model: Retail

CBDC Issued: ¤764,096

Inflation Rate: 7.53%

One-Sentence Summary:

Eastern Caribbean Central Bank's digital currency, DCash, faces challenges and risks of corruption, discrimination, amidst technical glitch frustrations.

✅ In 2021, the Eastern Caribbean Central Bank 🏝 introduced DCash, a Central Bank Digital Currency, with plans of making it a household name by 2023.

✅ DCash Wallet mobile app houses the CBDC, which consumers can access by trading in cash or converting bank account money — a technology built by Bitt Inc and running on Hyperledger Fabric.

✅ A recurring issue with DCash is the delay in account verification, as per reviews on Google Play Store and Apple App Store; a notable system outage occurred for two months in 2022, freezing consumer funds temporarily.

✅ By late 2023, the Eastern Caribbean Currency Union is considering engaging a new contractor for DCash development amid these ongoing issues.

✅ Although Antigua and Barbuda 🇦🇬 is known for minimal human rights violations, two risk areas stand out in the context of DCash - potential government corruption and discrimination.

✅ Government corruption, despite measures in place, poses a threat as it questions the reliability of any commitments to control surveillance and other CBDC risks, as well as potential for political favoritism.

✅ Worryingly, the discrimination concerning the LGBTQ+ 🏳️‍🌈 community could be amplified by CBDCs due to their potential to identify and monitor transactions and activities of these individuals.

#EasternCaribbeanCentralBank #AntiguaAndBarbuda #HumanRights #DCash #DigitalCurrency #Privacy #LGBTQRights #GovernmentCorruption

How can a digital currency like DCash assure transparency and privacy protections to avoid risks such as corruption or discrimination? Does the potential good of CBDCs outweigh these risks in nations struggling with corruption or rights violations? Share your views!

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.