⚠️ HRF CBDC ⛓️🪙 alert from HRF for Jamaica (23-JAN-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Launched
CBDC Launch: 2022-06-30
CBDC Model: Retail
CBDC Issued: ¤1,486,788
Inflation Rate: 10.35%
One-Sentence Summary:
Booming popularity of Jamaica’s CBDC JAM-DEX triggers the introduction of incentive programs and sparks discussions on privacy and financial freedom.
✅🇯🇲's digital currency, JAM-DEX, surged to 260,000 users in a couple of years, inspired by the Bank of Jamaica's strategically implemented incentive programs.
✅Deployment of the CBDC is eased by a user-friendly mobile app, simplifying access for the unbanked, and integrating seamlessly for bank account holders.
✅Governor of the Bank of Jamaica, Richard Byles, acknowledges the successful adoption of digital wallets, but cites challenges with reconciling traditional POS systems with JAM-DEX.
✅Despite no direct correlation with the CBDC, concerns around violations of human rights and civil liberties in🇯🇲 must be addressed since the advent of a CBDC can facilitate risks to financial privacy.
✅In depth resources from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State offer clarity on human rights issues.
✅For understanding the risks of CBDCs, the Cato Institute's report and webpage provide comprehensive insights.
#HumanRights #FinancialPrivacy #CentralBank #DigitalCurrency #Jamaica #BankofJamaica
In the context of increased CBDC adoption, how can we ensure the balance of revolutionary efficiency and consumer financial privacy is maintained? Let's have a meaningful conversation.
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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