⚠️ HRF CBDC ⛓️🪙 alert from HRF for United States (08-MAR-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Pilot
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 8%
One-Sentence Summary:
The 🇺🇸is advancing in its exploration of Central Bank Digital Currencies (CBDCs) despite concerns around surveillance and potential infringement on civil liberties.
✅ The 🇺🇸is currently test piloting CBDC developments, following multiple initiatives and studies conducted by the Federal Reserve and an Executive Order (14067) from President Biden focused on CBDC research and development.
✅ The Federal Reserve has consistently shown interest in the potential of digital currencies over the years, with projects like Project Hamilton and Project Cedar launched in 2020 to research different CBDC designs.
✅ Despite the Federal Reserve's hesitance about their authority to issue a retail CBDC, the Biden administration is laying the groundwork for a US CBDC, outlining policy objectives and conducting technical evaluations.
✅ The implications such a development may have on human rights and civil liberties are concerning, with the potential of amplified surveillance and civil asset forfeiture.
✅ While the 🇺🇸 has overall strong scores on freedom indexes, the issuance of a CBDC could potentially infringe on the financial privacy of its citizens, as there is no constitutional right to it.
✅ With such potential threats looming, it is crucial to pay close attention to movements regarding CBDCs, especially given the ongoing research and the public statements addressing its future implementation.
Hashtags:
#HumanRights #PrivacyConcerns #CBDC #CentralBankDigitalCurrency #FinancialFreedom #Surveillance #CivilLiberties
Question:
Given the concerns about privacy and civil liberties, how can the potential benefits of a CBDC be reconciled with the need to respect these vital freedoms?
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)
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