⚠️ HRF CBDC ⛓️🪙 alert from HRF for Azerbaijan (27-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 13.85%

One-Sentence Summary:

Concerns arise as Azerbaijan's Central Bank explores Central Bank Digital Currency (CBDC) amidst a backdrop of human rights abuses and censorship.

✅ Azerbaijan's Central Bank 🇦🇿 surveys potential for a CBDC, dubbed as a digital manat, aiming to accelerate the transition to cashless transactions.

✅ 👀 Despite a low score of 9/100 from Freedom House, Azerbaijan continues its CBDC exploration, raising fears it may provoke rampant discrimination, corruption, and curtailment of opposing voices.

✅ 😡 CBDCs in Azerbaijan could be leveraged to identify and spy on suppressed communities like ethnic Talysh and Lezgin groups.

✅ 💵 The existence of pervasive corruption in the country poses the risk of using CBDCs for instigated surveillance, control, or even political favoritism using subsidies or price controls.

✅ 📰 The systematic violation of press freedom could make CBDCs another tool to seize the finances of journalists, activists, and opposition figures, hampering democratic processes.

#HumanRights #PressFreedom #CBDC #Azerbaijan #FreedomHouse #DigitalCurrency

How might the potential implementation of Central Bank Digital Currency in Azerbaijan amplify or alleviate existing challenges connected to human rights, corruption, and discriminatory practices? 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)

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