⚠️ HRF CBDC ⛓️🪙 alert from HRF for Greece (07-NOV-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 9.65%

TEXT:

The Human Rights Foundation reports on the new Central Bank Digital Currency (CBDC) under development in 🇨🇳 China. The nation's financial authorities, led by the People's Bank of China, has set this as a top priority for 2021.

Experts warn, however, that the CBDCs could potentially serve as another tool for the Chinese administration to monitor the financial activities of its citizens. There have been instances in the past where similar technology was used for surveillance and restrictions on freedom.

Despite the potential drawbacks, proponents argue that CBDCs can modernize the financial system. They could help in bridging the access divide for millions of unbanked citizens in 🇨🇳 China, as well as making transactions quicker and easier.

Human Rights Foundation stresses the need for international awareness and dialogue in navigating the implications of CBDCs in 🇨🇳 China.

Post:

China's central bank sets development of Central Bank Digital Currency as a 2021 priority amidst concerns over potential abuse for surveillance.

✅ The Human Rights Foundation highlights 🇨🇳 China's move under the People's Bank of China to prioritize CBDC development in 2021.

✅ Experts express apprehension that 🇨🇳 China's CBDCs could become a monitoring tool for the government, reflecting past instances of technology used to limit freedom.

✅ Proponents see the potential in CBDCs to modernize the financial system, bridging the gap for millions of unbanked citizens in 🇨🇳 China.

✅ The Human Rights Foundation calls for international dialogue and awareness of the possible implications of CBDCs in 🇨🇳 China.

#HumanRightsFoundation #DigitalCurrency #CentralBank #FinancialFreedom #China

What are your thoughts on the potential freedom implications versus the benefits of central bank digital currencies, especially in countries with tight government control like 🇨🇳 China?

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.

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