⚠️ HRF CBDC ⛓️🪙 alert from HRF for Chile (26-MAR-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 11.64%

One-Sentence Summary:

Chile's Central Bank is cautiously exploring Central Bank Digital Currencies (CBDCs) despite potential risks to financial freedom.

✅ 🇨🇱 is in the research phase of Central Bank Digital Currencies (CBDCs) development with the Central Bank issuing its first evaluation in 2022.

✅ The bank found CBDCs could enhance the nation's digital transformation and contribute to an innovative, inclusive, and resilient payment system.

✅ A decision on whether to implement CBDCs is yet to be made due to the need for further information and studies.

✅ After another two years of investigation in 2024, the bank has not committed to issuing CBDCs but will continue research and pilot studies.

✅ Concerns remain over whether a CBDC is the best policy tool for current issues, and there are recognized risks associated with issuing CBDCs.

✅ Despite scoring a high 94 out of 100 in Freedom House's 2023 Freedom in the World report, the introduction of a CBDC poses risks to financial privacy and freedom in Chile.

✅ Various international organizations provide reports and information on potential violations of human rights and civil liberties alongside CBDC risks.

#Chile #CBDC #HumanRights #FinancialFreedom #CivilLiberties #DigitalCurrency

What do you think are the key considerations the Central Bank of Chile should take into account when deciding on whether to proceed with a CBDC? Let's hear from different perspectives and discuss respectfully.

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)

CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3

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