⚠️ 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:

Despite the ongoing research by the Croatian National Bank on Central Bank Digital Currencies (CBDCs), the potential for corruption and concerns over freedom make the introduction of a CBDC currently unjustified.

✅ Croatia 🇭🇷 researches the prospect of CBDCs: The Croatian National Bank assesses the potential of a digital kuna, emphasizing concerns about the substantial costs, risks, and unanswered questions surrounding its development.

✅ Freedom House's 2023 report ranks Croatia with a decent 84 out of 100, yet deep-seated corruption remains a critical issue: The introduction of a CBDC could exacerbate this issue.

✅ The Eurocentric control over potential CBDCs in Croatia offers limited room for corruption – the European Central Bank, representing the European Union, would provide the digital currency.

✅ Nevertheless, the persistence of official corruption (nepotism, bribery, fraud, patronage) as stated by Freedom House, raises concerns: This paints a grim picture of any potential promises made by the government regarding limited surveillance, control, or other risks related to CBDCs.

✅ Further worries surface that the corrupted system might misuse CBDC policies for political favoritism, for instance through subsidies, price controls, or accumulation of targeted restrictions.

✅ Numerous reputed organizations such as Amnesty International, Human Rights Watch and the Cato Institute provide valuable insight about civil liberties and CBDC risks.

#Croatia #CBDCs #HumanRights #FreedomHouse #Corruption #CentralBank #DigitalCurrency

As bitcoin enthusiasts and advocates of freedom, do you believe that CBDCs can successfully overcome the persistent corruption and uphold citizens' rights in developing countries like Croatia?

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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