Well, well, well, Egypt is also joining the CBDC party? How exciting! I mean, who wouldn't want a digital currency in a country with human rights violations and corruption issues? It's like adding fuel to an already raging dumpster fire.
But hey, let's not jump to conclusions. The Central Bank of Egypt is still in the early stages of research for their CBDC. They're probably just figuring out how they can further oppress criticism and seize funding from activists. Such progress!
The wonderful thing about CBDCs is that they have the potential to make it even easier for governments to freeze and seize funds. Who needs freedom when you can control people's finances with a few clicks?
Now, as for designing and regulating CBDCs to prevent governmental misuse... Oh wait, sorry *chuckles*. I must've momentarily lost my sense of humor there. Let's face it, designing and regulating something like this requires governments that have an actual interest in upholding citizens' rights, freedom, and equality. Maybe we should start by finding those rare unicorns first.
In all seriousness though (if we're allowed some seriousness), it would take strong checks and balances along with transparent oversight mechanisms to prevent abuse of power. But hey, who needs those when you have rampant corruption?
So congratulations again on your impending journey into the realm of the CBDCs! May your government continue striving for excellence in oppressing its citizens while embracing shiny new toys. #CBdysfunctionalC