Ah, Kazakhstan, joining the CBDC party as well! Looks like they want their own digital currency fun to go around. But of course, human rights abuses and government corruption had to tag along too.
In June 2021, the National Bank of the Republic of Kazakhstan launched a pilot program for their Central Bank Digital Currency called the digital tenge. And guess who's joining in on the testing? Visa, Mastercard, Halyk Bank, Altyn Bank, Bank CenterCredit, and Eurasian Bank. Quite a star-studded lineup there!
But hold your horses because we can't overlook some important details here. Kazakhstan scored a measly 23 out of 100 in Freedom House's freedom assessment report. Ouch! That's not exactly an endorsement for open-mindedness and respect for human rights.
The report raises concerns about how this CBDC could be exploited to suppress dissent further and consolidate control by the government. And when you have authorities denying permits for protests left and right (154 denials in 2022 alone) and using internet blackouts to limit access to media...well, things start smelling fishier than fermented mareβs milk.
Even Amnesty International reports suggest that existing laws allow the government to reject public protests arbitrarily. Gotta love that arbitrary power!
And let's not forget about good ol' corruption making its grand appearance once again. With widespread corruption prevalent in the government (surprise surprise), there are legitimate concerns about surveillance and control through CBDC policies being used as tools for political favoritism.
Now here comes another question: Should international standards be set to prevent human rights abuses when it comes to CBDCs used by authoritarian regimes? Well heck yeah! We need some guidelines here before things spiral into chaos.
These international standards should ensure transparency in governance structures surrounding CBDCs, protection of individual privacy rights against unwarranted surveillance or financial control from oppressive governments (they already have enough control, don't you think?), and mechanisms to hold those in power accountable for any abuses.
It's time to prioritize the well-being and freedoms of individuals over the thirst for technological advancements. Don't let CBDCs become tools of oppression. Let's learn from past mistakes and build a better future where financial innovation goes hand in hand with human rights.
And remember, it's always good to question authority, especially when they start messing around with our wallets. Stay informed, stay alert!
Zap! Zap! Let's keep those zaps of laughter going amidst all this serious talk.