⚠️ HRF CBDC ⛓️🪙 alert from HRF for Zimbabwe (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 104.71%

One-Sentence Summary:

"Zimbabwe's🇿🇼 Reserve Bank is exploring the development of Central Bank Digital Currencies (CBDCs), raising both opportunity and fear over potential human rights violation."

✅ The Reserve Bank of Zimbabwe🇿🇼 has embarked on a research phase, conducting a consumer survey on CBDC.

✅ An in-depth analysis surrounding the progress of Zimbabwe's CBDC and its impact on citizens' civil liberties, is coming soon.

✅ Meanwhile, comprehensive reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State provide insight into the concerns of human rights and civil liberties violation in Zimbabwe🇿🇼.

✅ Further, for those interested in understanding the potential risks of CBDCs, the Cato Institute provides a detailed webpage and report – 'The Risks of CBDCs' and 'Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.'

✅ To ensure full transparency, the methodology page provides an explanation of each data point and their respective sources.

Hashtags:

#CBDC #Zimbabwe #HumanRights #ReserveBankofZimbabwe #FinancialFreedom

Question:

Does the potential of Central Bank Digital Currencies (CBDCs) in Zimbabwe🇿🇼 foster financial innovation or do you fear it can be another tool for violating civil liberties?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Zambia (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 10.99%

One-Sentence Summary:

Zambia Ponders the Introduction of Central Bank Digital Currencies Amidst Concerns of Human Rights and Civil Liberties Violations.

✅ The Central Bank of 🇿🇲 is currently investigating the potential of introducing a central bank digital currency in the country, as revealed by the Bank's official, Nkatya Kabwe.

✅ A more comprehensive analysis of the developments associated with the CBDC in 🇿🇲 and its implications on the nation's handling of civil liberties is expected soon.

✅ For a deeper understanding of the predicament around human rights neglect and civil liberties violations, esteemed bodies such as Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State, have compiled diverse reports.

✅ Further light is shone on the possible hazards bound with the application of CBDCs by an informative webpage and report dubbed "The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths", published by the Cato Institute.

Hashtags:

#HumanRights #CentralBankDigitalCurrency #Zambia #CivilLiberty

Question:

What impact could the adoption of CBDCs have on the state of human rights and civil liberties in Zambia, particularly considering the country's current challenges?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Zimbabwe (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 104.71%

One-Sentence Summary:

Zimbabwe explores Central Bank Digital Currency (CBDC) amid serious concerns on human rights and civil liberties.

✅🇿🇼 Zimbabwe's Reserve Bank has launched a consumer survey on CBDCs, marking the start of its research phase.

✅ A detailed analysis of Zimbabwe's development of CBDCs and its treatment of civil liberties is under way.

✅ Notable organizations including Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International and the U.S. Department of State have reported concerns on human rights and civil liberties violations in 🇿🇼.

✅ The Cato Institute reveals potential risks of CBDCs in a comprehensive report and a dedicated online resource.

#Zimbabwe #CBDCs #HumanRights #MonetaryPolicy #FinancialInclusion

Do you believe Central Bank Digital Currencies can be equally exploited as traditional financial systems or does it bring out unique vulnerabilities on its own? Share your thoughts below!

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Tanzania, United Republic of (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 4.4%

One-Sentence Summary:

The Bank of Tanzania is cautiously exploring the possibilities of a Central Bank Digital Currency (CBDC) while concerns about its respect for civil liberties still persist.

✅ The Bank of 🇹🇿 embarked on a research by early 2023, exploring the feasibility of issuing its own CBDC.

✅ The central bank formed a multi-disciplinary team to assess practical aspects of CBDC.

✅ The Bank's approach towards CBDC adoption is phased, cautious, and risk-based.

✅ The results of the research phase will steer the next steps, possibly including a roadmap for CBDC adoption.

✅ A comprehensive analysis of Tanzania's CBDC journey paralleled with its civil liberties status is due shortly.

✅ Several human rights bodies like Amnesty International, Freedom House, among others provide valuable insights into the country's civil liberties.

✅ The Cato Institute provides useful resources on the risks associated with CBDCs.

#Tanzania #CBDCResearch #HumanRights #FinancialFreedom

What are your thoughts on how Tanzania's journey toward CBDC adoption could impact its civil liberties landscape? Let's have a respectful dialogue on the potential implications.

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Thailand (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Launched

CBDC Launch: 2023-06-13

CBDC Model: Retail

CBDC Issued: n/a

Inflation Rate: 6.08%

One-Sentence Summary:

Thailand's Central Bank Digital Currency tests draw criticism over potential human rights violations and corruption concerns.

✅ The Bank of Thailand has initiated a retail Central Bank Digital Currency (CBDC) pilot project alongside various banking and financial institutions, with participation from employees and merchants, marking a launched phase for Thailand's digital currency.

✅ The Bank of Thailand is also partnering with the Bank for International Settlements on a wholesale CBDC project, aiming to improve cross-border payments while maintaining monetary stability and currency sovereignty.

✅ Thailand's government initially planned to distribute CBDC payments worth 10,000 baht ($276) to the public in 2023, but postponed it until 2024 due to funding and system development concerns, with former senator Rosana Rositrakul comparing the scheme to a flawed government program that resulted in jail time for several ministers.

✅ Despite their claims that a CBDC would optimize payments, central bank governor Sethaput Suthiwartnarueput questioned the superiority of a CBDC over existing payment systems like PromptPay.

✅ With a low score in Freedom House’s Freedom in the World report, concerns over a potential 👑🇹🇭 CBDC include oppressing dissent, governmental corruption, and misuse of digital currency tools for suppressing opposing voices.

✅ Critics have expressed concern that a CBDC could be misused to freeze or seize assets of opposition activists, with the government's consideration of a single internet gateway indicating a possible attempt to tighten control over finance.

✅ Given the prevalence of corruption in Thailand's public sector, there are reservations about government promises to limit CBDC surveillance and control risks, and skepticism over possible political favoritism through CBDC policies.

Relevant hashtags:

#HumanRights #FinancialFreedom #Banking #GovernmentControl #Corruption

Thought-Provoking Question:

Could the adoption of Central Bank Digital Currencies in countries with prevalent corruption and control issues, like Thailand, potentially lead to the misuse of financial power? Could they also compromise users' financial freedom and privacy? We’d love to hear your thoughts.

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Trinidad and Tobago (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 2.06%

One-Sentence Summary:

The Central Bank of Trinidad and Tobago advances in its research and review phase for Central Bank Digital Currencies (CBDCs), possibly affecting the country's human rights and civil liberties.

Paragraph Analysis:

✅ 🇹🇹 is currently conducting research on CBDCs with the technical assistance of the IMF.

✅ An in-depth analysis of 🇹🇹's CBDC development plan and its impact on civil liberties is underway.

✅ Anyone interested in human rights, civil liberties, or potential CBDC risks can check reports by reputable organizations like Amnesty International and Human Rights Watch, or explore the webpage and report by the Cato Institute.

✅ The methodology page provides a clear understanding of the individual data points and exposes their sources for an absolute comprehension.

Hashtags:

#CBDC #humanrights #centralbanks #TrinidadandTobago #financialinnovation #IMF

Question:

Given these developments, how do you see the relationship between CBDC implementation and human rights evolving in countries like 🇹🇹? Do you think these innovations could potentially infringe upon civil liberties or could they possibly contribute to greater financial freedom? Share your thoughts!

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Tunisia (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 8.31%

One-Sentence Summary:

Tunisian Central Bank quashes rumors of digital currency launch and affirms its ongoing research in the field while human rights concerns tug the entrails of its evaluation.

✅🇹🇳 Despite rumors of launching a digital currency, the Central Bank of Tunisia denies involvement in any such projects, specifying that they're still in the research phase.

✅📊 A comprehensive analysis of Tunisia's exploration into Central Bank Digital Currencies (CBDCs) and its impact on civil liberties is currently in progress.

✅🔍 For those wishing to delve deeper into the broader implications on human rights and civil liberties in the country, several resources are shared such as reports from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State.

✅💡 For those interested in getting a grasp on the risks associated with CBDCs, the Cato Institute's webpage and report present a comprehensive overview.

✅📚 Additionally, a dedicated methodology page breaks down the data points and their sources regarding the metrics about CBDCs.

#HumanRights #CBDC #Tunisia #FinancialInclusion #DigitalCurrency #FinancialPrivacy

Do you think Central Bank Digital Currencies can co-exist with sufficient protection for individuals' financial privacy and human rights?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Turkey (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 72.31%

One-Sentence Summary:

Turkey's 🇹🇷 move to develop a Central Bank Digital Currency sparks concerns about potential misuse amidst corruption and a shaky human rights record.

✅The Central Bank of the Republic of 🇹🇷 is running closed-circuit pilot tests for its CBDC, the digital lira, with plans to expand its testing to banks and fintech.

✅In 2021, the Turkish Central Bank announced the establishment of the "Digital Turkish Lira Collaboration Platform" for further testing, with future plans contingent on the performance of various technologies.

✅Turkey, currently in the pilot phase of its CBDC, possesses a Freedom House score of 32 out of 100, pointing to potential concerns regarding financial crime enforcement and government corruption.

✅Amnesty International claims that Turkey misused laws on combating money laundering to harass NGOs, raising fears a CBDC could be similarly misused to track or even seize finances of activists and political rivals.

✅The prevalence of high-level government corruption in Turkey brings the integrity of any promised surveillance or control measures associated with the CBDC into question.

Hashtags:

#HumanRightsTurkey #CBDCs #TurkeyCBDC #FreedomHouse #AmnestyInternational

Question:

What does the introduction of CBDCs mean for countries with a history of human rights issues and governmental corruption like Turkey? 🇹🇷

Do you think the potential for surveillance and control of citizen finances that come with CBDCs might worsen these issues or could it lead to more transparency and accountability in the system? Let's discuss.

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Uganda (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 7.2%

One-Sentence Summary:

Ugandan central bank explores the development of Central Bank Digital Currency (CBDC), as human rights concerns come into focus.

✅🇺🇬'S central bank is in the preliminary study phase for the development of a CBDC, according to director for national payments Andrew Kawere.

✅The topics of focus include the possible role of the central bank and financial institutions, relevance to monetary policy, and consideration of interest.

✅In-depth analysis on Uganda's CBDC developments and its civil liberties treatment is expected soon.

✅Several reports by international organizations highlight concerns about human rights and civil liberties violations in Uganda.

✅The potential risks of developing CBDCs can be further explored in a detailed report by the Cato Institute.

#CentralBankDigitalCurrency #Uganda #MonetaryPolicy #HumanRights #CivilLiberties

How should the establishment of a CBDC in 🇺🇬 be approached considering the concerns over violations of human rights and civil liberties?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Ukraine (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 20.18%

One-Sentence Summary:

🇺🇦Ukraine's National Bank pushes for CBDC development despite ongoing challenges, as it eyes economic security and a cashless society.

✅The National Bank of 🇺🇦 Ukraine is advancing towards creating a Central Bank Digital Currency (CBDC) known as e-hyrvnia, signaling a move towards the pilot phase.

✅The bank envisions the CBDC to supplement existing forms of currency and believes it would bolster Ukraine's economic security, monetary sovereignty, and maintain price and financial stability.

✅The National Bank initiated a probe into the prospects of issuing its own CBDC in 2016, tested transactions on the 'Electronic Hryvnia platform' in 2018, but concluded there were negligible advantages of using DLT technology for a centralized e-hyrvnia issuance system.

✅In 2021, the Ukrainian government joined forces with the Stellar Development Foundation to foster the development of a CBDC and transition to a cashless society.

✅By 2022, the bank unveiled a draft concept for its CBDC, oriented for use in non-cash payments, virtual assets circulation, and international payments, with legislation expected to be introduced in 2024, as per Deputy Prime Minister Mikhail Fedorov.

✅The ongoing military conflict involving 🇷🇺 Russia makes it challenging to evaluate Ukraine on human rights and civil liberties currently, with an analysis expected in the future.

✅ Further details on human rights and civil liberties violations, and CBDC risks can be consulted in reports from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, the U.S. Department of State, and the Cato Institute.

#HumanRights #Economy #Ukraine #DigitalCurrency

What are the potential implications of disarray and conflict in a country on the development and implementation of a CBDC, particularly in the case of Ukraine?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for United Arab Emirates (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 4.83%

One-Sentence Summary:

🇦🇪 launches #CBDC pilot phase while dealing with pressing concerns, involving potential misuse for financial surveillance and censorship.

✅ 🇦🇪 is in the pilot phase of its #CBDC strategy, including a soft launch to facilitate cross-border transactions, proofs-of-concept with India and for domestic issuance.

✅ Collaboration with the Bank for International Settlements, 🇦🇪 is running a wholesale CBDC pilot, Project mBridge, to address cross-border payment inefficiencies and ensure monetary stability for all involved jurisdictions.

✅ Unfortunately, 🇦🇪 scores only 18 out of 100 in Freedom House’s 2023 Freedom in the World report.

✅ Deep concerns surround the potential use of CBDCs for financial censorship and surveillance due to the country's history of restriction on free expression and mass surveillance.

✅ The 1980 Publications and Publishing Law prohibits criticism of the 🇦🇪 government; hence, a fear that CBDCs could quell opposition by freezing or seizing of their monetary assets.

✅ With advanced tracking of public spaces, internet activity, individuals' devices by 🇦🇪 according to Human Rights Watch, a CBDC system could amplify surveillance by placing financial transaction history under government's direct scrutiny.

✅ Reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State provide extensive information on human rights and civil liberty violations, and concerns pertaining to CBDC risks.

Hashtags:

#HumanRights #FinancialFreedom #InternetFreedom #CBDC #ProjectmBridge #PrivacyConcerns

Thought-provoking question:

How can we leverage the benefits of CBDCs without encroaching upon civil liberties and cherished freedoms? Share your thoughts!

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for United Kingdom (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 7.92%

One-Sentence Summary:

The 🇬🇧 UK's Bank of England is exploring Central Bank Digital Currencies (CBDCs), despite potential risks to financial privacy and freedom.

✅ The 🇬🇧 UK's Bank of England is mulling over introducing a CBDC but hasn't reached a decision yet.

✅ The Bank has published discussion and technical papers investigating CBDC design possibilities.

✅ In spite of the exploratory stage, the Bank foresees a future need for a digital pound.

✅ The Bank of England's 2023 consultation paper includes initial CBDC plans requiring identity verification, capacity limited accounts, and programmability.

✅ Over 50,000 public responses have been received, largely due to concerns about privacy and the decline of cash.

✅ Mervyn King and George Bridges, both members of the House of Lords, have expressed concerns about the necessity of a CBDC in the 🇬🇧.

✅ Despite the 🇬🇧 UK's high score in the 2023 Freedom in the World report, potential risks to financial privacy and freedom posed by a CBDC cannot be overlooked.

✅ Reports by Amnesty International, Financial Tyranny Index, Freedom House, and more provide more insight on violations of human rights related to CBDCs.

✅ Cato Institute documents also cover risks associated with CBDCs.

#BankOfEngland #CBDCs #FinancialFreedom #PrivacyConcerns

How might the introduction of a digital pound in the 🇬🇧 UK affect financial privacy and freedom while also potentially transforming the financial landscape? Share your thoughts!

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for United States (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 8%

One-sentence summary:

The United States is proactively exploring Central Bank Digital Currencies (CBDCs) through various initiatives despite complicating factors such as unclear authority and privacy issues.

✅ The 🇺🇸 is intensively studying CBDCs, with multiple Federal Reserve pilots, experiments, and studies underway.

✅ The initiatives include "Project Hamilton" by the Federal Reserve Bank of Boston and "Project Cedar" by the New York counterpart.

✅ However, there exists apprehension over the authority to issue a CBDC; according to Jerome Powell, Federal Reserve chair, congressional approval is needed for a retail CBDC.

✅ The 🇺🇸 erhaltened a high score of 83/100 in the 2023 Freedom House report, even though looming issues persist, such as broad financial surveillance and civil asset forfeiture - issues that could potentially worsen with a CBDC.

✅ Despite the U.S. Constitution's protection of privacy rights, financial privacy is not covered, leading to potential heightened surveillance.

✅ Furthermore, CBDCs could possibly exacerbate civil asset forfeiture, a concept criticized by many as "legalized theft".

✅ Various international reports highlight these concerns related to human rights, civil liberties, and risks associated with CBDCs.

#CentralBankDigitalCurrency #FederalReserve #FinancialPrivacy #CivilLiberties #HumanRights

Now, let's hear from you! How do you envision the balance between innovation in finance with CBDCs and the protection of individual privacy and rights in the 🇺🇸 context?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Uruguay (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 9.1%

One-Sentence Summary:

Uruguay proceeds cautiously with piloting Central Bank Digital Currency (CBDC), acknowledging potential risks to financial privacy and freedom.

Content Analysis:

✅ 🇺🇾 Uruguay ventured into the CBDC landscape with a pilot run from November 2017 to April 2018.

✅ During this exploration, the system allowed cash transactions through an app, attracting the first 1,000 users with incentives and continuing with monthly rewards for active users.

✅ Banco Central Del Uruguay, the project's supervising body, teamed up with various organizations including ANTEL, RGC, IBM, IN Switch, and RedPagos.

✅ The CBDC issued amounted to only $670,000, limited to 10,000 users, each with a $1,000 cap on digital wallets.

✅ Upon completion of the pilot, the CBDCs were abolished.

✅ Even with Uruguay's high score of 96/100 in the 2023 Freedom in the World report, concerns persist over potential threats to financial freedom posed by CBDC.

✅ Linkages provided for further understanding of potential risks related to human rights infringement and the risks of CBDC from prominent organisations including Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, the U.S. Department of State, and Cato Institute.

Hashtags:

#UruguayCBDC #FinancialFreedom #DigitalCurrencyRisks #BancoCentralDelUruguay

Question:

As Uruguay cautiously proceeds with its CBDC pilot, what do you believe are the key measures that should be taken into account to safeguard individual financial freedom and autonomy?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Venezuela (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 254.9%

One-sentence summary:

Venezuela's journey with Central Bank Digital Currencies (CBDCs) suffers setback as "Digital Bolivar" fails to meet digital criteria.

✅ In 2021, the 🇻🇪Central Bank announced the launch of their digital currency - the "Digital Bolivar".

✅ Concerns arose when experts concluded that the "Digital Bolivar" was neither a CBDC nor digitally innovative.

✅ EY Venezuela's representative, Miguel López, claims the "Digital Bolivar" merely mimics digital transactions of existing Sovereign Bolivars.

✅ Despite the setback, it's confirmed that 🇻🇪Central Bank is still in the examination phase of creating a legitimate CBDC.

✅ Comprehensive analysis of CBDC developments against civil liberties concerns is soon to be released.

✅ Renowned entities like Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and US Department of State documented these civil liberties contradictions.

✅ Risks associated with CBDCs are comprehensively outlined on The Risks of CBDCs webpage by the Cato Institute.

#CentralBankDigitalCurrency #Venezuela #DigitalBolivar #HumanRights #CivilLiberties #DigitalCurrencyFail #GlobalEconomy

Considering the setbacks Venezuela has encountered, what are your thoughts on the future of CBDCs in countries dealing with civil liberties and human rights concerns?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Vietnam (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 3.16%

One-Sentence Summary:

Vietnam's plan to pilot a Central Bank Digital Currency (CBDC) raises concerns over potential for increased government control and corruption.

- ✅ 🇻🇳 is currently testing Central Bank Digital Currencies under State Bank of Vietnam's guidance.

- ✅ According to Freedom House's 2023 report, 🇻🇳 scores 19 out of 100, indicating suppressed freedoms, potentially concerning for CBDC usage.

- ✅ Severe restrictions on press freedom and increased repression towards civil society signal potential misuses of CBDC's.

- ✅ With prevalent corruption in 🇻🇳, the accountability of CBDC's, which might be used for political favoritism and control, is questionable.

#HumanRights #DigitalCurrency #GovernmentControl #PressFreedom #Corruption #CivicFreedom

What impact do you think the launch of CBDC's in 🇻🇳 could have on their current state of freedom, considering the potential for further government control and corruption?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Zambia (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 10.99%

One-Sentence Summary:

The Bank of Zambia is conducting research to evaluate the potential introduction of a Central Bank Digital Currency (CBDC), amid concerns about the country's civil liberties.

Critically Analyzed Content:

✅ The Bank of 🇿🇲Zambia is in the research stage of exploring possibilities for a Central Bank Digital Currency (CBDC), says official Nkatya Kabwe.

✅ A comprehensive analysis of the CBDC developments and the state of civil liberties in 🇿🇲Zambia is on its way.

✅ For more information on issues pertaining to human rights and civil liberties in 🇿🇲Zambia, check out reports from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State.

✅ To understand the perceived dangers associated with CBDCs, readers can refer to the Cato Institute's webpage and report titled "The Risks of CBDCs" and "Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths".

Relevant Hashtags:

#Zambia #BankOfZambia #CentralBankDigitalCurrency #CBDC #HumanRights #CivilLiberties

Thought-Provoking Question:

As Bitcoin enthusiasts and advocates for freedom, what are your thoughts on the intersection of civil liberties and the potential implementation of a CBDC in 🇿🇲Zambia?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Zimbabwe (20-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 104.71%

One-Sentence Summary:

The Reserve Bank of Zimbabwe initiates research phase on the development of Central Bank Digital Currencies (CBDCs) amid concerns over the country's treatment of civil liberties.

✅ The Reserve Bank of 🇿🇼 is conducting consumer surveys, marking the initiation of its research phase on CBDCs.

✅ A detailed analysis, focusing on the development of CBDCs in 🇿🇼 and the country's handling of human rights, is on its way.

✅ Reports addressing concerns on human rights violations and civil liberties in 🇿🇼 are available from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State.

✅ For understanding the potential risks associated with CBDCs, refer to the webpage and report by the Cato Institute: 'The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.'

✅ More details about the metrics and methodology can be found on the respective pages of each source shared above.

#Zimbabwe #HumanRights #CBDC #CatoInstitute #AmnestyInternational #FreedomHouse #PrivacyInternational

🤔 We'd love to hear your thoughts: Should countries with ongoing human rights concerns be forging ahead with digital currencies?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Rwanda (07-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 17.69%

One-Sentence Summary:

"Rwanda's Central Bank 🇷🇼 is investigating the prospects and risks of implementing Central Bank Digital Currencies (CBDCs), with officials suggesting it could take as much as two years to develop their own CBDC."

✅ The National Bank of Rwanda 🇷🇼 is currently in the research phase regarding the development of Central Bank Digital Currencies (CBDCs).

✅ Deputy Governor, Soraya Hakuziyaremye, emphasizes the importance of understanding both the advantages of CBDCs for Rwandans and the potential risks it could pose to the economy and certain sectors.

✅ Governor John Rwangombwa confirms that the initial study into the relevance of a CBDC for Rwanda has been completed, with results suggesting that it can be done and is indeed necessary.

✅ It's estimated that the creation of a Rwandan CBDC could take up to two years.

✅ An in-depth analysis of CBDC development in Rwanda and its implications on civil liberties is yet to be released.

✅ Human rights groups such as Amnesty International, Freedom House, Human Rights Watch, and the U.S. Department of State have published reports on human rights and civil liberties issues in Rwanda.

✅ The Cato Institute has shared insights on potential risks of CBDCs in their report 'The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths'.

#CBDC #CentralBanks #Rwanda #HumanRights #CivilLiberties

Question:

As Bitcoin enthusiasts who value financial autonomy and freedom, how do you view the development of Central Bank Digital Currencies, particularly in countries like Rwanda 🇷🇼 having a history of civil liberties issues? Could CBDCs potentially enhance or undermine economic and personal freedoms? Let's discuss.

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Nigeria (07-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Launched

CBDC Launch: 2021-09-30

CBDC Model: Retail

CBDC Issued: ¤12,903,226

Inflation Rate: 18.85%

One-Sentence Summary:

"Nigeria's Central Bank backed digital currency eNaira struggles with lackluster adoption faced by citizen distrust, corruption, and human rights concerns."

✅ Nigeria embarks on its Central Bank Digital Currency, the eNaira, through intermediary financial institutions, with primary access via a mobile app powered by Hyperledger-based software.🇳🇬

✅ Citizens' access to CBDC comes with restrictions linked to the provision of personal information, which limits daily transaction amounts and total CBDC ownership.🔒

✅ Over a year since its 2021 inception, eNaira failed to garner significant public adoption, amounting to a disappointing 0.5% of the population by late 2022.📉

✅ Yet, Central Bank's deputy governor Kingsley Obiora insisted that government intervention could turn the tide.💡

✅ End of 2022 saw Nigerian government attempt forcing CBDC adoption by creating a nationwide cash crunch which led to severe backlash, despite Central Bank Governor, Godwin Emefiele's insistence on achieving a 100% cashless economy.💸🚫🇳🇬

✅ Regardless of growth in adoption, International Monetary Fund noted that a majority of eNaira wallets remained untouched by May 2023.🎒🚫

✅ In spite of its CBDC endeavors, Nigeria continues to grapple with corruption concerns, scoring a disappointing 43 on Freedom House's 2023 Freedom in the World report. 🌎🇳🇬

✅ Rampant corruption risks tainting CBDC's promises of reduced control, surveillance and risk, inciting fears of government manipulation.🔍💱

✅ Opposition voices in Nigeria face a difficult environment, with government's history of silencing critics, raising fear of eNaira enabling direct financial control over citizens. 🗣️📵🇳🇬

#CBDC #Nigeria #eNaira #Blockchain #FreedomHouse #DigitalCurrency #HumanRights #FinancialControl

Do you think a CBDC like eNaira can successfully operate in a country grappling with deep-rooted corruption and political oppression? What are your thoughts on the potential misuse of CBDCs as tools for targeted financial control? Let's discuss, while respecting the diversity of views on this complex issue.

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