⚠️ HRF CBDC ⛓️🪙 alert from HRF for Anguilla (12-JAN-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Launched
CBDC Launch: 2021-02-28
CBDC Model: Retail
CBDC Issued: ¤110,132
Inflation Rate: %
One-Sentence Summary:
DCash, a Central Bank Digital Currency (CBDC) of the 🏝 Eastern Caribbean, is under scrutiny due to customer frustrations over account verifications, system outages, and potential risks to financial freedom and human rights.
✅ Eastern Caribbean Central Bank launched 🏝 DCash, a CBDC, across all eight member countries in 2023 with upcoming marketing campaigns to expand its reach.
✅ DCash Wallet mobile app is the primary avenue for consumers to access the CBDC, created by Bitt Inc., and can be fueled by trading cash at approved venues or converting from bank accounts.
✅ User reviews on Google Play Store and Apple App Store showcase disappointment due to prolonged waiting times for account verification and a significant system outage lasting two months in 2022.
✅ CBDC outage froze consumer funds, and it was later revealed that the freeze was a result of an expired certification.
✅ In 2023, 🏝 Eastern Caribbean Currency Union announced the search for a new contractor to revamp its CBDC.
✅ Given its overseas territory status to the 🇬🇧 United Kingdom, information about human rights and civil liberties violations in Anguilla is limited. Despite this, the introduction of a CBDC like DCash could pose potential risks to financial privacy and freedom.
✅ For detailed insights into potential violations of human rights and civil liberties, as well as risks of CBDCs, resources from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, U.S. Department of State, and Cato Institute are available.
#HumanRights #FinancialFreedom #CBDC
Are Central Bank Digital Currencies like DCash, despite their promise of financial modernization, potentially enabling new avenues for financial surveillance, and thereby infringing on civil liberties? Share your thoughts.
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
