⚠️ HRF CBDC ⛓️🪙 alert from HRF for Indonesia (22-MAR-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 4.21%
One-Sentence Summary:
"Bank Indonesia advances toward Central Bank Digital Currency (CBDC), despite concerns over corruption and potential human rights abuses."
✅ 🇮🇩 is in the research phase of creating a Central Bank Digital Currency (CBDC).
✅ Bank Indonesia published a white paper for their CBDC, Project Garuda, in November 2022.
✅ Bank Indonesia Governor Perry Warjiyo stated the initial goal is to introduce a wholesale CBDC before transitioning to a retail CBDC.
✅ Later in 2022, it was announced that legislative changes were in process to make a future CBDC, referred to as the digital rupiah, legal tender in 🇮🇩.
✅ Early in 2023, Bank Indonesia publicized the public comments it received in response to their CBDC white paper.
✅ Despite this progress, concerns remain regarding corruption and pressure on dissenting voices in 🇮🇩, which could greatly influence the implementation and use of a CBDC.
✅ Freedom House cites “endemic" corruption in national and local legislatures, civil service, judiciary, and police in 🇮🇩.
✅ Perceived opponents of the government have allegedly faced online communication interference, and a CBDC could be used as another tool to exert control over citizens.
✅ Concerns also exist that a CBDC could facilitate the freezing and seizure of the funds of activists, political rivals, and protestors, thereby undermining opposition.
Hashtags:
#HumanRights #FinancialFreedom #BankIndonesia #CentralBankDigitalCurrency #ProjectGaruda #Corruption #FreeSpeech
Question:
Given the corruption and human rights concerns in 🇮🇩, do you believe the implementation of a Central Bank Digital Currency could be used as a tool for control? How can these issues be tackled to ensure that digital currency evolution promotes financial inclusion and freedom? Let's hear your thoughts.
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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