⚠️ HRF CBDC ⛓️🪙 alert from HRF for Croatia (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 10.78%

One-Sentence Summary:

"The Croatian National Bank's report suggests that launching a Central Bank Digital Currency (CBDC) in Croatia isn't economically or strategically justified yet, amid concerns that CBDC might exacerbate existing corruption."

✅ The Croatian National Bank has published a report indicating no immediate plans to launch a Central Bank Digital Currency (CBDC) or 'digital kuna', citing unresolved issues, costs, and risks. 🇭🇷

✅ Despite a reasonably high score of 84/100 in Freedom House's 2023 report, Croatia's corruption issues could intensify with the adoption of a CBDC.

✅ The CBDC in Croatia would likely come from the European Central Bank, representing the EU, raising questions about the potential for abuse by the Croatian government. 🇪🇺

✅ Freedom House states that persistent official corruption in Croatia, including bribery, nepotism, and fraud, sparks concerns about any governmental promises to limit CBDC-related surveillance, control, or risks.

✅ Potential for political favoritism through things like subsidies, price controls, or targeted restrictions looms with the advent of CBDC, given the embedded corruption.

✅ Credible sources like Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, U.S. Department of State, and Cato Institute offer deeper insight into human rights, civil liberty violations, and risks of CBDCs.

#Croatia #CBDC #HumanRights #Corruption #DigitalCurrency #FreedomHouse

What do you think about CBDCs' potential in countries grappling with corruption and what could be the best strategy to mitigate potential risks?

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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