⚠️ 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:

Croatia ponders over CBDC implementation as it grapples with corruption issues amidst open questions about the benefit-cost ratio of a digital kuna.

✅ Croatian Central Bank's report expresses apprehension about whether the potential advantages of introducing a CBDC ⛓️ outweigh the risks and expenses.

✅ The role cash currently plays in Croatia’s monetary system and economical and strategic justifications are barriers to CBDC launch.

✅ Scoring an 84 out of 100 on Freedom House's 2023 🌍 Freedom in the World report, Croatia struggles with corruption issues, raising concerns over CBDC adoption.

✅ Although the CBDC would be provided by the European Central Bank, implications regarding corruption persist.

✅ Issues such as nepotism, bribery, and fraud remain rampant, driving concerns about potential government misuse of CBDCs.

✅ The culture of corruption also raises doubts about whether CBDC policies would birth subtler forms of corruption such as political favoritism.

#HumanRights #CentralBankDigitalCurrency #Croatia #FreedomHouse #Corruption #EuropeanCentralBank

Question: Given the prevailing corruption in Croatia🇭🇷, do you think the introduction of a Central Bank Digital Currency could be a stepping stone towards transparency or would it exacerbate the existing issues? Can the European Central Bank's provision of the CBDC assure a check and balance on its potential misuse?

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

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