⚠️ HRF CBDC ⛓️🪙 alert from HRF for Indonesia (22-MAR-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 4.21%

One-Sentence Summary:

"🇮🇩 Eyes Digital Currency Amidst Corruption Concerns and Human Rights Violations"

1. ✅ 🇮🇩's Central Bank, Bank Indonesia, released a white paper called Project Garuda in November 2022, outlining plans for a Central Bank Digital Currency (CBDC). The initial goal is a wholesale CBDC, with later ambitions towards a retail CBDC accessible to the public.

2. ✅ Changes in legislation were pursued in 2022 to establish the future CBDC, the digital rupiah, as legal currency, with key digital features being available only to Bank Indonesia.

3. ✅ Public response to the CBDC white paper was analyzed in a paper published by Bank Indonesia, with plans for future stages including experimentation and policy reviews.

4. ✅ Despite progress, Indonesia's freedom score is a mere 58 out of 100 according to Freedom House’s 2023 report. Corruption and stifling of dissent are particularly alarming in the context of CBDC use and issuance.

5. ✅ Reports of corruption resulting in human rights abuses and government interference in online communications raise concerns about surveillance and control linked to CBDCs, with possible political favoritism.

6. ✅ The potential for CBDCs to be used as a tool to disrupt opposition by the government underlines a grim pattern of seizing funds from activists, political rivals, and protestors.

7. ✅ Websites and reports by organizations such as Amesty International, Freedom House, and the U.S. Department of State provide more in-depth info about human rights violation and CBDC risks.

Hashtags:

#HumanRights #FinancialFreedom #CentralBank #DigitalCurrency

Question:

In the light of these developments and concerns about corruption and human rights abuses in 🇮🇩, how could a CBDC help or harm the fight for freedom and economic fairness?

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

#plebstr