⚠️ 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 is exploring Central Bank Digital Currencies (CBDCs), yet concerns around costs, risks, and the nation's corruption levels suggest it might not be the right time for digital Kuna implementation.

✅ Croatia's🇭🇷 National Bank acknowledges that the country is not yet ready for a CBDC given the potential costs and risks, and the prominence of cash in the economy.

✅ Despite scoring 84/100 in the Freedom House's 2023 Freedom report, corruption in Croatia raises concerns about the implications of a CBDC's adoption.

✅ The proposed CBDC would be issued by the European Central Bank, thus limiting the Croatian government's potential misuse, but the implications are still debatable.

✅ Freedom House points to persistent corruption including nepotism, bribery, fraud, and patronage in Croatia, which could question the government's promises on limiting CBDC-related surveillance and control.

✅ Further concerns involve fears of the government using CBDC policies for political favoritism via subsidies, price controls, or targeted restrictions.

Hashtags:

#CBDCs #Croatia #HumanRights #FinancialFreedom #CentralBanks

Question:

Do you believe the adoption of a CBDC in a country with corruption issues like Croatia could potentially exacerbate these problems or could it possibly contribute to an enhanced system of transparency and accountability?

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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