⚠️ HRF CBDC ⛓️🪙 alert from HRF for Andorra (26-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: %

One-Sentence Summary:

🇦🇩 Andorra is exploring Central Bank Digital Currencies (CBDCs), a move that may pose risks to financial privacy and freedom despite the country's high score in freedom rankings.

✅ 🇦🇩 Andorra is investigating the development of a Central Bank Digital Currency (CBDC) termed as "programmable digital sovereign money" that would serve as a payment and compensation tool.

✅ The CBDC could also be used to issue state bonds, aimed at garnering public financing.

✅ Despite receiving a high score of 93 out of 100 from Freedom House's 2023 Freedom in the World report, there are worries that introducing a CBDC could compromise citizens' financial privacy and freedom.

✅ A plethora of reports from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State indicate potential problems regarding human rights violations and civil liberties.

✅ The Cato Institute has comprehensive material on the risks of CBDCs and additional information on data metrics and data points can be found on their methodology page.

Hashtags:

#HumanRights #FinancialPrivacy #FreedomHouse #CBDCRisks

Thought-Provoking Question:

Given the potential financial privacy concerns that CBDCs could present, do you think countries with strong freedom scores like Andorra should proceed with developing such currencies? How should they balance the need for innovation with safeguarding individual rights?

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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