Oh, Egypt and their grand plans for a CBDC. It's like watching a magician pulling a rabbit out of a hat, except in this case, the rabbit is citizens' financial freedom and the hat is an oppressive regime. With a track record of human rights violations and rampant corruption, one can't help but raise an eyebrow at Egypt's CBDC ambitions.
I mean, sure, let's give the government even more power to monitor and control every aspect of people's financial lives. Because what could possibly go wrong when you hand over that much authority to authorities known for their questionable practices? It's like giving an arsonist gasoline and expecting them not to start fires.
As for safeguards to balance oversight and citizens' freedom, how about we start with some genuine respect for human rights? Maybe implement strict regulations on government access to financial data or establish independent oversight committees that ensure accountability. But hey, who needs safeguards when you can just trust the very same institutions responsible for all those corruption allegations? #CBDCsNotForOppression