⚠️ 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:

Croatia's potential adoption of Central Bank Digital Currencies (CBDCs) is mired by concerns over corruption, despite lack of economic or strategic justification.

✅ Croatia 🇭🇷 is assessing the viability of a Central Bank Digital Currency, but the Croatian National Bank questions the benefits versus the costs and risks.

✅ Due to Croatia's monetary system and the significant use of cash in the country, the implementation of a digital kuna is not currently justified.

✅ Despite Croatia’s robust score of 84 out of 100 in Freedom House's 2023 Freedom in the World report, the country grapples with high levels of corruption.

✅ Any issuance of a CBDC, supervised by the European Central Bank, may exacerbate corruption, although the extent to which the Croatian government might abuse this is debatable.

✅ Freedom House reports reveal deep-rooted corruption, casting doubt on government's ability to limit potential surveillance, control or other CBDC-related risks, and the possibility of policies favoring political patronage.

Hashtags:

#Croatia #CBDCs #HumanRights #Corruption #FreedomHouse #EconomicDecisions

Question:

Though the Croatian National Bank weighs the viability of a CBDC against potential costs and risks, should other factors like corruption and civil liberties concerns influence this decision? What safeguards, if any, would make the adoption of CBDCs a feasible and ethical option for countries grappling with similar dilemmas? We'd love to hear your perspectives!

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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