⚠️ HRF CBDC ⛓️🪙 alert from HRF for Turkey (23-FEB-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 72.31%

One-Sentence Summary:

Turkey's Central Bank advances pilot stages of its Central Bank Digital Currency, raising concerns about misuse of financial enforcement tools and increased government corruption.

Content:

✅ Turkey's 🇹🇷 Central Bank is currently testing its CBDC, known as the digital lira.

✅ Upon completing pilot tests, the Central Bank plans to release an evaluation report and continue advanced pilot studies with larger participation.

✅ The Central Bank initiated proof-of-concept studies for the CBDC in 2020, followed by the Digital Turkish Lira Research and Development Project.

✅ In 2021, a collaboration platform for the digital lira was created for experimentation with involvement of the Scientific and Technological Research Council of Türkiye, ASELSAN, and HAVELSAN.

✅ The first transaction execution on the digital Turkish lira network was launched in 2022.

✅ The first pilot phase, including transaction testing, identification, supervision, and security, completed in 2023, with plans for wider testing.

✅ Turkey's low score (32/100) in the 2023 Freedom in the World report by Freedom House raises human right and civil liberty concerns.

✅ Amnesty International stated that Turkey misused financial crime enforcement tools and increased intrusive NGO audits, indicating a potential misuse of the CBDC.

✅ Freedom House confirms a high level of corruption in Turkish government, causing distrust in the CBDC's policies and surveillance risk.

✅ Institutions including Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and U.S. Department of State report on human rights violation concerns in Turkey.

✅ The Cato Institute provides comprehensive reports on the risks of CBDCs.

Hashtags:

#CBDC #Turkey #HumanRights #GovernmentCorruption #DigitalCurrency #FinancialFreedom

Question:

What are some safety measures that can be implemented in the development of CBDCs to protect against misuse by potentially corrupt governments? How can we ensure that the digital revolution does not become another tool for stifling freedoms?

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