⚠️ HRF CBDC ⛓️🪙 alert from HRF for Croatia (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 10.78%

One-Sentence Summary:

Croatia's exploration of a Central Bank Digital Currency (CBDC) faces a rocky road amidst persistent corruption issues and unresolved queries surrounding its potential benefits versus existing risks.

✅ Croatia 🇭🇷 is currently studying the possibility of a CBDC, but associated costs, risks, and a robust cash-based economy pose significant obstacles.

✅ The Croatian National Bank has acknowledged the unresolved issues and does not currently see the need to launch a digital kuna.

✅ Despite a relatively high Freedom score, corruption remains a problem in Croatia, potentially complicating the adoption of a CBDC.

✅ Notably, any CBDC in Croatia would come from the European Central Bank, creating uncertainty about potential misuse of this technology by Croatian government.

✅ Widespread corruption raises concerns over potential misuse of a CBDC, such as implementing political favoritism, exerting control, or limiting citizen privacy.

✅ Comprehensive resources are available for the public to learn more about human rights concerns and the risks of CBDCs, including reports from Amnesty International, Freedom House, Human Rights Watch, the U.S. Department of State, Privacy International, and the Cato Institute.

#CroatiaCBDC #FinTech #EuropeanCentralBank #DigitalCurrencies #FreedomScore #Corruption

Considering the corruption issue in Croatia 🇭🇷, how can the possible introduction of CBDC be carried out in a way that ensures fairness, limits government overreach, and safeguards citizen privacy? Let's discuss!

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.