⚠️ HRF CBDC ⛓️🪙 alert from HRF for Sri Lanka (04-MAR-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 49.72%

One-Sentence Summary:

Sri Lanka is eyeing the introduction of a Central Bank Digital Currency (CBDC), however, human rights concerns around surveillance and corruption pose potential risks to its implementation.

✅ Sri Lanka 🇱🇰 is researching the possibility of introducing a Central Bank Digital Currency (CBDC).

✅ Discussions of a possible CBDC arose in 2020, with a potential launch date set for 2025.

✅ However, questions remain on the feasibility of this timeline and the steps the Central Bank of Sri Lanka might take prior to the potential launch.

✅ Human rights concerns, like surveillance and corruption, pose significant challenges in the rollout of CBDCs in Sri Lanka 🇱🇰.

✅ According to Freedom House and the U.S. State Department, Sri Lanka 🇱🇰 ranks low on freedom metrics and is criticized for unauthorized surveillance and high-level governmental corruption.

✅ A CBDC may inadvertently strengthen the surveillance capacity of the government, further infringing upon citizens' rights.

✅ The pervasiveness of corruption raises skepticism about the government's transparency or effective oversight in the rollout and management of a CBDC.

#CentralBankDigitalCurrency #SriLanka #HumanRights #FinancialFreedom #Privacy

How could the potential roll-out of a CBDC in Sri Lanka be managed, to mitigate the inherent risks associated with surveillance and corruption? Share your thoughts and insights below.

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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