⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)
🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 15.1%
One-Sentence Summary:
Czech National Bank explores potential for Central Bank Digital Currency (CBDC) while grappling with corruption issues.
✅🇨🇿 is conducting research into a Central Bank Digital Currency (CBDC), as disclosed by Vojtěch Benda, a member of the Czech National Bank board.
✅Despite existing plans, no formalized concepts for the CBDC exist yet, with uncertainties surrounding its operation, particularly on the issue of anonymity given anti-money laundering requirements.
✅🇨🇿 scores a relatively high 92 out of 100 according to Freedom House’s 2023 report, but grapples with ongoing corruption issues, which might get exacerbated with CBDC introduction.
✅The control of the proposed CBDC will not directly fall under Czech government - it would be provided by the European Central Bank, corresponding to the European Union.
✅Corruption, taking forms like bribery and politically targeted investigations, casts doubts on any government promises limiting CBDC-related surveillance, control, or other risks, thereby, questioning potential biases in CBDC policies.
#CentralBankDigitalCurrency #CzechRepublic #Corruption #FinancialFreedom #CzechNationalBank
Can the introduction of a CBDC in the Czech Republic serve as a tool to combat corruption or will it worsen the issue? We would love to hear 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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