⚠️ 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 suggests 2025 horizon for CBDC launch, but human rights concerns alongside prevalent corruption may pose significant challenges.

✅🇱🇰's Central Bank is considering a CBDC, revealing plans to Parliament in 2024.

✅The research phase started in 2020 with a brief news survey about CBDCs.

✅Amid discussions of a possible 2025 launch, veracity of timeline remains uncertain.

✅Despite progressing towards a CBDC, the nation scored 54/100 on Freedom House’s 2023 Freedom in the World Report - highlighting surveillance and corruption issues.

✅Increased CBDC surveillance could enable greater intrusion by state authorities into citizens' transactions.

✅Freedom House and U.S. State Department positioned 🇱🇰 as a high-risk corruption environment, questioning the reliability of any government guarantees to restrict CBDC surveillance and control.

✅Concerns also evident that CBDCs could be used for political gains through subsidies or price controls.

#HumanRights #CentralBank #CBDC #SriLanka #GlobalEconomy

💭We must question: How can the potential misuse of CBDCs for surveillance and corruption in nations like 🇱🇰 be effectively mitigated? Are transparency measures and international regulations enough, and what role can we, the global community, play in this? 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