⚠️ 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 Republic 🇨🇿 Explores CBDC, Yet Concerns of Corruption and Surveillance Loom Large"

✅ The Czech Republic 🇨🇿 is investigating the potential use of Central Bank Digital Currencies (CBDCs) but has not yet formalized a concept.

✅ Statements from the board members of the Czech National Bank reflect differing views on the implementation and operation of CBDCs.

✅ The country, while scoring high on the Freedom in the World report, still struggles with corruption that could potentially be worsened by the adoption of a CBDC.

✅ Despite the potential for misuse and corruption, the extent to which the Czech government could misuse a CBDC is up for debate given the potential oversight from the European Central Bank.

✅ Freedom House highlights worrying levels of corruption in Czech politics, including bribery and politically motivated investigations, which raises concerns over potential misuse of CBDCs.

✅ A range of organizations can provide further reports on risks and violations associated with CBDCs, human rights, and civil liberties.

#CzechRepublic #CBDCs #HumanRights #Corruption #Surveillance #FreedomHouse #EuropeanCentralBank

Discussion:

What measures would you suggest to ensure transparency, accountability, and privacy in the potential implementation of a CBDC in places caught in the balance of technological benefits and systemic corruption, like the Czech Republic?

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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