⚠️ 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:

"Croatian National Bank debates merits of Central Bank Digital Currencies, as corruption concerns linger."

✅ The Croatian National Bank expresses uncertainty regarding the viability of implementing Central Bank Digital Currencies (CBDCs) in 🇭🇷, citing unidentified risks and costs that might outbalance potential benefits.

✅ Despite holding a relatively high score in Freedom House's Freedom Index, corruption still haunts 🇭🇷, leading to concerns over the potential abuse of CBDCs.

✅ The CBDC for 🇭🇷, which will be provided by the European Central Bank, might not fall under direct governmental abuse, though this remains contested.

✅ Fraud, bribery, and nepotism are cited amongst prevalent official corruptions, questioning the government's promises on CBDC surveillance control amidst social distrust.

✅ Concerns over apparent favoritism through subsidies, price controls, or other targeted restrictions are raised due to 🇭🇷's questionable corruption record.

✅ Check out reports by credible organizations such as Amnesty International, Freedom House, Human Rights Watch among others, for more on human rights and civil liberty concerns.

✅ Also, refer to the report and webpage by the Cato Institute for a detailed insight on CBDC risks.

#CentralBankDigitalCurrency #CroatianNationalBank #FreedomHouse #EconomicDebate

For advocates of freedom and digital currency enthusiasts, how do you think the implementation of CBDCs could be balanced with maintaining democratic freedoms and fighting corruption in a society like Croatia's?

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.