⚠️ HRF CBDC ⛓️🪙 alert from HRF for Sweden (29-MAR-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Pilot
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 8.37%
One-Sentence Summary:
🇸🇪's Sveriges Riksbank has implemented various phases for the development of a Central Bank Digital Currency (CBDC) known as e-krona since 2016, focusing on integration, offline payments, and programmable payments, yet the actual introduction remains a political decision.
✅ Since 2016, the Sveriges Riksbank of 🇸🇪 began exploring the need for a CBDC in response to declining cash usage.
✅ The concept of e-krona was born with the initiation of a pilot project in 2020 to understand better the technical dynamics of a CBDC.
✅ Their various reports from 2021 to 2023 found the feasibility of e-krona, its integration into existing banking systems, and recognised programmable payments.
✅ In collaboration with the Bank for International Settlements, Sveriges Riksbank studied the application of CBDCs in cross-border transactions.
✅ The final decision to introduce e-krona, as per the Sveriges Riksbank, remains a political decision.
✅ While various phases of testing improved upon the system, the recent 2024 report highlights the challenging aspect of offline capability.
✅ In spite of Sweden’s immaculate score in Freedom House’s 2023 report, concerns around the application of CBDCs towards human rights violations cannot be ruled out.
#CentralBankDigitalCurrency #CBDC #Banking #Finance #HumanRights #Sweden
-How can the global community ensure that the adoption of CBDCs doesn't compromise financial privacy and freedom?
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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