⚠️ HRF CBDC ⛓️🪙 alert from HRF for Sri Lanka (04-MAR-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 49.72%

One-Sentence Summary:

🇱🇰 Central Bank of Sri Lanka aims for CBDC launch by 2025 amidst concerns of surveillance and corruption.

✅ Sri Lanka is in its early stages of developing their CBDC, with central bank officials suggesting a launch by 2025.

✅ In 2020, the Central Bank of Sri Lanka had mentioned CBDCs in a news survey with no clear stance or further research disclosed.

✅ The central bank in 2024 suggested a possible launch of a CBDC by 2025, mentioning proofs-of-concepts and pilots but with no clear plan disclosed.

✅ Freedom House's 2023 report gave Sri Lanka a 54/100 score, flagging issues of surveillance and corruption which could be exacerbated by a CBDC launch.

✅ Sri Lanka's authorities can enter homes and monitor communications without need for judicial authorization which raises concerns of increased surveillance with CBDCs.

✅ Corruption is a significant problem in Sri Lanka, possibly influencing the design and implementation of CBDC policies which could lead to unfair distribution of resources.

Hashtags:

#CentralBankofSriLanka #CBDC #FreedomHouse #Corruption #Surveillance

Thought-provoking question:

How can we ensure that the development and implementation of CBDCs in countries like 🇱🇰 does not compromise on human rights and civil liberties, but aids in the fight against corruption instead?

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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