⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

✨🇨🇿Czech Republic is weighing the pros and cons of launching a Central Bank Digital Currency (CBDC), amidst concerns of anonymity, potential misuse, but uncertainty over its operation and control remain.✨

✅ The Czech National Bank is discussing the possibility of a CBDC, though they are only in the early stages of research.

✅ Board member Vojtěch Benda suggests a CBDC could function like digital cash, but the precise regulatory, operational details are not yet clear.

✅ Another board member, Tomas Holub, voices doubts about the political will to adopt a CBDC and raises questions over anonymity due to legal anti-money laundering protocols.

✅ Despite scoring high in 2023 Freedom in the World report by Freedom House, the Czech Republic has continuous challenges with corruption.

✅ The introduction of a CBDC could complicate these issues; however, control over the potential CBDC might rest with the European Central Bank, not the Czech government.

✅ Corruption continues to permeate Czech politics, sparking concerns over the potential misuse of CBDCs for political favoritism, surveillance, and control, thereby undermining any regulatory safeguards.

✅ A variety of international bodies and NGOs provide in-depth reports on potential civil liberties and human rights violations relating to CBDCs, and detailed explanations are available on how these assessments are made.

#CzechRepublic #CBDC #HumanRights #FreedomHouse #EuropeanCentralBank #Corruption #DigitalCurrency

❓As Bitcoin enthusiasts and freedom advocates, how do you think the potential adoption of a CBDC in the Czech Republic could impact corruption and monetary freedom? How might control by the European Central Bank affect these dynamics?

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⚠️ 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:

Croatia's exploration into Central Bank Digital Currencies (CBDCs) remains uncertain due to economic strategy, unresolved corruption issues, and risks outweighing potential benefits, according to a report by the Croatian National Bank.

✅ 🇭🇷 is currently researching the benefits and risks of implementing a CBDC, also known as a digital kuna, but the Croatian National Bank expresses uncertainty whether benefits would exceed costs and risks.

✅ 🇭🇷's freedom score in 2023 by Freedom House was 84 from 100 - relatively high, yet corruption issues persist. CBDC adoption fears encompass potential increase in corruption.

✅ It's worth noting that while CBDCs' abuse potential by Croatian government is a topic of debate, any CBDC used in 🇭🇷 would originate from the European Central Bank, representing the EU.

✅ Rampant corruption concerns - including bribery, fraud, nepotism among others - raise red flags around assurances from the government concerning CBDC-associated risks, and even potential CBDC policies potentially fostering political favoritism.

✅ Various human rights resources like Financial Tyranny Index, Amnesty International, have reported on civil liberty and human right violations. For in-depth information about risks associated with CBDCs, refer the reports from the Cato Institute.

#Croatia #CBDC #HumanRights #FreedomHouse #Corruption

Does the persistence of corruption and potential for governmental abuse in Croatia make the idea of a CBDC more alarming, or are there ways in which the introduction of a CBDC could lead to positive changes and reforms?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

Czech Republic examines introduction of CBDCs amid corruption concerns but asserts a need for local currency that imitates the anonymity of cash.

✅ The Czech Republic 🇨🇿 is researching the development of Central Bank Digital Currencies (CBDCs).

✅ Czech National Bank board member Vojtěch Benda visualizes the CBDC as a digital equivalent to physical cash, fostering anonymity in transactions.

✅ Notably, details remain sketchy on the modus operandi of the CBDC in the country.

✅ Tomas Holub, another board member of the National Bank, expresses doubt about politicians' willingness to grant the necessary authority for full-fledged CBDC operations.

✅ Holub anticipates that the CBDC may not offer complete anonymity due to stringencies of anti-money laundering laws.

✅ In Freedom House's 2023 report, the Czech Republic scores 92 out of 100, reflecting significant freedom yet corruption remains problematic.

✅ The prospect of a CBDC maybe exacerbate existing corruption networks; this speculative outcome is yet debatable.

✅ The European Central Bank would provide the CBDC for the Czech Republic, representing the country in the European Union.

✅ The presence of corruption in 🇨🇿, manifested in political activities and practices, risks undermining the potential benefits of CBDCs.

✅ Existing corruption raises questions about government's potential misuse of CBDCs via surveillance, control, or even on varied CBDC policies favoring certain sections of society.

✅ The dangers of CBDC overreach and potential human rights violations can be understood through resources offered by Amnesty International, Financial Tyranny Index, Freedom House, etc.

✅ Concerns about CBDC risks are detailed by Cato Institute's web page and report titled 'The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths'.

✅ A thorough understanding of the metrics discussed requires a visit to their methodology page, explaining each data point with correct sources.

Hashtags:

#CBDC #CzechRepublic #HumanRights #Corruption #CentralBankDigitalCurrency

Thought-provoking Question:

Considering the Czech Republic's current situation, how could a CBDC impact societal dynamics, particularly in relation to corruption and privacy? Could a CBDC function as a tool for greater transparency, or might it lead to more centralized control and surveillance? What are your thoughts on this digital conundrum?

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⚠️ 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:

"Croatia's Central Bank weighs the potential challenges and benefits of adopting a Central Bank Digital Currency (CBDC), amidst ongoing concerns about corruption, monetary, and strategic feasibility."

✅ The Croatian National Bank🇭🇷 is presently examining the feasibility of launching a Central Bank Digital Currency (CBDC)— research is ongoing.

✅ Despite recognizing various challenges and unanswered questions, the bank concludes current monetary conditions and the prevalent usage of cash make CBDC's adoption neither strategic nor economically advisable at the moment.

✅ The 2023 Freedom House’s report ranks Croatia with 84 out of 100, indicating a high level of freedom, although corruption remains troubling.

✅ There are reservations that corruption in Croatia could exacerbate with the adoption of a CBDC, despite the European Central Bank being the foreseen provider for the CBDC.

✅ Endemic corruption like nepotism, bribery, and fraud, raises doubts about the government's promises to minimize surveillance, control, and other risks possibly associated with the introduction of CBDCs.

✅ Several reports by international watchdogs like Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State deliver insight into potential violations of human rights and civil liberties.

✅ To address concerns around the potential risks of CBDCs, resources such as a webpage and report by the Cato Institute offer an assessment of risks and dispel some misconceptions.

#Croatia #CBDC #CroatianNationalBank #FreedomHouse #Corruption #EuropeanCentralBank #AmnestyInternational #HumanRightsWatch #PrivacyInternational #USDepartmentofState #CatoInstitute

Question: Considering corruption issues, how might the adoption of a CBDC in 🇭🇷Croatia impact the country's economy and civil liberties?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-sentence summary:

Czech Republic’s 🇨🇿 development of Central Bank Digital Currencies (CBDCs) is marked by uncertainty and concerns over corruption risks.

1. ✅ The Czech Republic 🇨🇿 is exploring the concept of Central Bank Digital Currencies (CBDCs) but no definitive plans have been established yet. Key figures in the Czech National Bank like Vojtech Benda and Tomas Holub reveal varying views on its implementation and operation.

2. ✅ Despite scoring 92 out of 100 in Freedom House’s 2023 Freedom report, corruption is a persistent issue in the Czech Republic 🇨🇿, a factor that could complicate and possibly worsen with the adoption of a CBDC.

3. ✅ Trust issues aplenty, as corruption in the form of bribery, subsidies, and politicized investigations taint the government's transparency, adding to the uncertainty of the proper use of CBDCs should they be adopted.

4. ✅ For further insight into civil liberties and human rights concerns, and the risks associated with CBDCs, recommended reads are the reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, U.S. Department of State, and the Cato Institute.

#CzechRepublic #CentralBankDigitalCurrency #FreedomHouse #HumanRightsFoundation #EconomicFreedom #DigitalCurrency

What measures do you think can be put in place to ensure that the adoption of CBDCs in countries like the Czech Republic 🇨🇿 doesn't amplify existing corruption, but instead champions economic freedom and human rights?

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⚠️ 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:

Croatian National Bank ponders over Central Bank Digital Currency, citing economic and strategic uncertainties amidst rampant corruption.

✅🇭🇷 is exploring the viability of CBDC but arrives at conflicting conclusions due to economic and strategic concerns.

✅Cash still plays a vital role in the Croatian economy, rendering the immediate need for a digital kuna uncertain.

✅🇭🇷 scores 84 out of 100 in 2023 Freedom in the World report by Freedom House, showcasing a reasonable level of freedom, but corruption remains a red flag.

✅The idea of CBDC in 🇭🇷 could potentially amplify corruption risks, though the exact level of influence the Croatian government would have over a European Union-provided CBDC remains questionable.

✅The prevalence of official corruption in the form of nepotism, bribery, fraud, and patronage is a major worry point, questioning the credibility of any government's promise regarding the control and possible risks of CBDCs.

✅The possibility of pro-political biases and manipulations in crafting CBDC policies could infringe civil rights and liberties, adding another layer of concern.

#Croatia #CBDC #HumanRights #Corruption #FreedomHouse #DigitalCurrency

What steps can the Croatian authorities take to successfully combat the prevalent corruption before the potential integration of CBDC in their economy? And, how can they ensure that this step towards digitalization does not stoke the existing issues? Share your insights.

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

The Czech Republic's development of Central Bank Digital Currencies (CBDCs) raises concerns regarding surveillance, control, and corruption amidst ongoing conceptualization and debates among national bank officials.

✅ 🇨🇿 is currently researching CBDCs, with Czech National Bank board member Vojtěch Benda envisioning a system mimicking cash through a mobile wallet.

✅ However, no formalized concept for the CBDC exists yet and fellow board member, Tomas Holub, expresses skepticism about politicians endorsing this authority.

✅ Holub noted that contrary to Benda's vision, CBDCs are likely to be non-anonymous due to anti-money laundering regulations.

✅ In the 2023 Freedom House report, 🇨🇿 scored 92 out of 100, indicating relative freedom, but corruption in the form of bribery, subsidies, and politically motivated investigations persists.

✅ The likelihood of CBDC exploitation by the European Central Bank-governed government raises questions about potential worsening of corruption.

✅ More so, it sparks doubts about the government's capacity to limit surveillance, control, and curb the risks of CBDCs due to prevalent corruption.

#CzechRepublic #CBDC #CzechNationalBank #FreedomHouse #Corruption #PrivacyRights #CivilLiberties #CentralBankDigitalCurrency

Inviting diverse thoughts: With the Czech Republic's ongoing CBDC development and pre-existing corruption concerns, do you believe the potential benefits of CBDC outweigh its potential for misuse in terms of surveillance and control? Why or why not?

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⚠️ 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:

Croatian National Bank highlights various risks of introducing Central Bank Digital Currencies (CBDCs), citing ongoing corruption concerns and the unjustified economic and strategic implications for the country.

✅ The Croatian National Bank's recent report on CBDCs highlights unresolved issues and challenges, doubting whether the advantages would outweigh the risks for the nation. 🇭🇷

✅ Presently, given the dominant role of cash and the country's monetary system features, launching a 'digital kuna' seems neither economically nor strategically prudent as per the report.

✅ Despite scoring 84 out of 100 on Freedom House's 2023 Freedom in the World report, corruption still lingers in Croatia, possibly escalating with CBDC implementation.

✅ However, the Croatian government misusing CBDCs is arguable, as any CBDC in Croatia would most likely be issued by the European Central Bank, representing the EU.

✅ Corruption is a grave concern regarding the implementation of CBDCs as it brings into focus governmental promises to limit surveillance, control, and other risks associated with CBDCs.

✅ Issues such as nepotism, bribery, and fraud raise concerns about whether CBDC policies might be manipulated for political gains through subsidies, price controls, or targeted restrictions.

✅ Further analysis of human rights and civil liberties violations, as well as the risks of CBDCs, can be found through links to the Cato Institute, Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State.

#Croatia #CBDC #Corruption #CentralBanks #DigitalCurrency #EuropeanUnion #Banks #Finance #MonetaryPolicy #EU #FreedomHouse

What could be the viable steps to address and mitigate corruption risks when implementing CBDCs, taking into consideration civil liberties, privacy, and human rights laws?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

Central Bank Digital Currencies currently under research in the Czech Republic are viewed with skepticism due to the country's persistent issues with political corruption.

✅ While the Czech Republic is currently researching Central Bank Digital Currencies (CBDCs), there seems to be no formalized concept yet, despite suggestions by board members of the 🇨🇿 National Bank.

✅ Concerns are raised about the hospitability of CBDCs, given the recognized lack of political authority by Tomas Holub, another member of the 🇨🇿 National Bank board, adding to skepticism surrounding CBDC operation.

✅ Czech Republic’s score on Freedom House's Freedom in the World report doesn’t insulate it from concerns about the potential misuse of CBDCs—especially considering issues of corruption that still plague the country.

✅ Governmental power to misuse CBDCs is questionable, given that any CBDC in the 🇨🇿 would be issued by the European Central Bank, representing the European Union.

✅ Freedom House pinpoints corruption in the form of bribery, subsidies, and politically-biased investigations as prevalent issues in 🇨🇿, posing questions about the sincerity of governmental promises on limiting surveillance, control, or other CBDC risks.

✅ These corruption issues in the 🇨🇿 further inject doubts about whether CBDC policies could be exploited to exert political favoritism.

✅ Various organizations, including Amnesty International and Human Rights Watch, provide a deeper understanding of human rights violations and risks associated with CBDCs.

#CzechRepublic #CentralBankDigitalCurrency #HumanRights #FinancialFreedom #FreedomHouse #GovernmentCorruption

Thinking about 🇨🇿 and the ongoing development of Central Bank Digital Currencies, what are your thoughts on combating corruption risks with the adoption of CBDCs?

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⚠️ 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:

"Croatian National Bank debates merits of Central Bank Digital Currencies, as corruption concerns linger."

✅ The Croatian National Bank expresses uncertainty regarding the viability of implementing Central Bank Digital Currencies (CBDCs) in 🇭🇷, citing unidentified risks and costs that might outbalance potential benefits.

✅ Despite holding a relatively high score in Freedom House's Freedom Index, corruption still haunts 🇭🇷, leading to concerns over the potential abuse of CBDCs.

✅ The CBDC for 🇭🇷, which will be provided by the European Central Bank, might not fall under direct governmental abuse, though this remains contested.

✅ Fraud, bribery, and nepotism are cited amongst prevalent official corruptions, questioning the government's promises on CBDC surveillance control amidst social distrust.

✅ Concerns over apparent favoritism through subsidies, price controls, or other targeted restrictions are raised due to 🇭🇷's questionable corruption record.

✅ Check out reports by credible organizations such as Amnesty International, Freedom House, Human Rights Watch among others, for more on human rights and civil liberty concerns.

✅ Also, refer to the report and webpage by the Cato Institute for a detailed insight on CBDC risks.

#CentralBankDigitalCurrency #CroatianNationalBank #FreedomHouse #EconomicDebate

For advocates of freedom and digital currency enthusiasts, how do you think the implementation of CBDCs could be balanced with maintaining democratic freedoms and fighting corruption in a society like Croatia's?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

Czech Republic's 🇨🇿 potential CBDC plans amidst heightened concerns of possible misuse due to existing corruption issues in the country.

✅ Talks of developing a Central Bank Digital Currency (CBDC) surface in the 🇨🇿, but plans are still in the research phase.

✅ The idea of CBDC aims to mimic cash functionality with anonymity; however, finalization and acceptance at a political level remains a challenge.

✅ Despite a high score in Freedom House's 2023 Freedom World Report, the 🇨🇿 grapples with corruption, sparking fears over the possible misuse of a CBDC.

✅ Reports indicate if a CBDC is launched in the 🇨🇿, its control would likely fall under the European Central Bank representing the European Union, making any potential for direct local government abuse questionable.

✅ The existence of corruption in the form of bribery, political investigations, and subsidies amplifies concerns over any potential future government commitments to restrict surveillance, control, or other risks associated with CBDCs.

✅ Comprehensive reports by various international organizations like Amnesty International, Freedom House, and Human Rights Watch highlight the potential risks of CBDCs, focusing on the need for preserving human rights and civil liberties.

#CzechRepublic #HumanRights #DigitalCurrency #EUBanking #FinancialFreedom

What are your thoughts on how potential misuse of CBDCs due to existing corruption can be mitigated? How can we ensure transparency and accountability in the CBDC operations in nations grappling with corruption issues?

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⚠️ 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:

"The Croatian National Bank's report suggests that launching a Central Bank Digital Currency (CBDC) in Croatia isn't economically or strategically justified yet, amid concerns that CBDC might exacerbate existing corruption."

✅ The Croatian National Bank has published a report indicating no immediate plans to launch a Central Bank Digital Currency (CBDC) or 'digital kuna', citing unresolved issues, costs, and risks. 🇭🇷

✅ Despite a reasonably high score of 84/100 in Freedom House's 2023 report, Croatia's corruption issues could intensify with the adoption of a CBDC.

✅ The CBDC in Croatia would likely come from the European Central Bank, representing the EU, raising questions about the potential for abuse by the Croatian government. 🇪🇺

✅ Freedom House states that persistent official corruption in Croatia, including bribery, nepotism, and fraud, sparks concerns about any governmental promises to limit CBDC-related surveillance, control, or risks.

✅ Potential for political favoritism through things like subsidies, price controls, or targeted restrictions looms with the advent of CBDC, given the embedded corruption.

✅ Credible sources like Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, U.S. Department of State, and Cato Institute offer deeper insight into human rights, civil liberty violations, and risks of CBDCs.

#Croatia #CBDC #HumanRights #Corruption #DigitalCurrency #FreedomHouse

What do you think about CBDCs' potential in countries grappling with corruption and what could be the best strategy to mitigate potential risks?

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-sentence summary:

The debate heats up in 🇨🇿 over Central Bank Digital Currencies (CBDCs) amid concerns of corruption and the struggle with setting functional parameters.

✅ The 🇨🇿 is exploring the concept of Central Bank Digital Currencies (CBDCs), mirroring the functioning model of cash with the objective of anonymity while transactions.

✅ Vojtěch Benda and Tomas Holub, board members of the Czech National Bank, express divergent views on the structure and operation of CBDCs.

✅ The CBDC, if adopted in 🇨🇿, would come through the European Central Bank, representing the European Union, making the potential for government misuse debatable.

✅ 🇨🇿 scored 92 out of 100 in Freedom House’s 2023 Freedom in the World report but still struggles with issues of corruption— a factor that might worsen with the integration of CBDCs.

✅ Corruption in the form of bribery, subsidies, and politically motivated investigations persist in 🇨🇿, compounding concerns over the possible misuse of CBDCs for political favoritism.

Hashtags:

#CBDC #CzechRepublic #CentralBankDigitalCurrency #FreedomHouse #HumanRightsFoundation #EuropeanCentralBank

Question:

How do you think the potential misuse of CBDCs by governments can be curtailed to ensure these currencies serve their purpose of ease and efficiency and not become tools for corruption and control? Let's discuss!

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Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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⚠️ 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:

"Croatian National Bank discusses potential CBDC, concluding that due to certain risks and costs, it is not currently feasible; concerns include existing high corruption levels and possible privacy invasions."

✅ The Croatian National Bank is examining the prospects for a Central Bank Digital Currency (CBDC), but uncertainties persist, and it remains unsure whether its benefits can outweigh potential risks and costs.🇭🇷

✅ In their current economic and strategic ecosystem, especially considering the significant role of cash, launching a digital kuna (CBDC) isn't justified for Croatia just yet.

✅ Scoring 84/100 in the 2023 Freedom in the World report, corruption remains a substantial issue in Croatia, inducing potential complications in the issuance or adoption of a CBDC.

✅ However, it remains arguable if the Croatian government could exploit a CBDC since the European Central Bank on behalf of the EU would provide it.

✅ Some advancements have been made, but official corruption inclusive of bribery, fraud, nepotism, and patronage persist as a potent problem in Croatia.

✅ The prevalence of corruption raises doubts about promises made by the government to limit surveillance, control, or other risks associated with CBDCs and its role in developing policies that might favor political interests.

✅ Various reports by Amnesty International, Freedom House, Financial Tyranny Index, Human Rights Watch, the U.S. Department of State, and Privacy International highlight concerns over human rights and civil liberties violations.

✅ Cato Institute's report titled "The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths" provide insights into the risks tied with CBDCs.

#CroatianNationalBank #CBDC #HumanRightsFoundation #EU #CentralBankDigitalCurrency #CorruptionInTheEU

Question: Given the persistence of corruption in nations like Croatia🇭🇷, do you believe the introduction of a Central Bank Digital Currency (CBDC) might exacerbate these issues or offer a pathway to resolution? What are your thoughts on balancing monetary innovation with the potential risks?

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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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

🇨🇿 in the research phase of Central Bank Digital Currencies (CBDCs) adoption, poses corruption and surveillance concerns amid growing debates on the potential and risks of CBDCs.

✅ The Czech Republic, or 🇨🇿, is exploring the potential of CBDCs, ideas include creating a digital wallet on mobile phones and maintaining transaction anonymity. However, the practicalities of operation and the lack of political will to adopt this technology are posing challenges to this concept.

✅ Despite scoring a respectable 92 out of 100 in Freedom House's 2023 'Freedom in the World' report, 🇨🇿 grapples with corruption issues, which may be exacerbated by the implementation of a CBDC.

✅ The CBDC scenario becomes intriguing as the digital money in 🇨🇿 would be provisioned by the European Central Bank and not the country's own central bank.

✅ Prevailing corruption—in forms of bribery, subsidies, and politically motivated investigations—in the 🇨🇿 political spectrum raises concerns about the government's promises on limiting surveillance, control, or other risks of CBDCs.

✅ Various national and international entities, including Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, U.S. Department of State, and the Cato Institute, have published extensive reports on the potential human rights, privacy violations, and risks associated with the implementation of CBDCs.

Hashtags

#CentralBankDigitalCurrency #CBDCs #HumanRights #Surveillance #FreedomHouse #CzechRepublic #FinancialFreedom

Question:

CBDCs are the new frontier in digital finance, but as we brace for this innovation, how can we ensure that their introduction will not amplify corruption and surveillance concerns? Can the benefits outweigh the risks in countries like 🇨🇿, which continue to grapple with transparency?

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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⚠️ 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:

Croatian National Bank casts doubts on immediate CBDC implementation due to potential costs, risks, and existing corruption concerns.

Topics:

✅ The Croatian National Bank (🇭🇷) explores the potential of implementing a Central Bank Digital Currency, but regards the economic and strategic benefits as uncertain.

✅ Freedom House 2023 report ranks Croatia 84/100 on freedom, however corruption remains a significant national concern where a CBDC could exacerbate the situation.

✅ Despite being managed by the European Central Bank (representing 🇪🇺), the ability for the Croatian government to misuse a CBDC remains contentious.

✅ Corruption issues in Croatia, including bribery, fraud, and favoritism, raise concerns about government promises for surveillance and control measures attached to CBDCs.

✅ Resources detailing human rights and civil liberties concerns are available from Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State.

✅ Information concerning the potential risks of CBDCs can be found on webpages and reports by the Cato Institute.

Hashtags:

#HumanRights #FinancialFreedom #AntiCorruption #Croatia #CBDCRisk #FreedomHouseReport

Question:

How do you think soaring corruption levels might impact the potential implementation and use of a CBDC in Croatia, and how could such challenges be mitigated to ensure civil liberties are upheld?

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Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

Exploration of Central Bank Digital Currency (CBDC) in the Czech Republic faces scrutiny due to corruption concerns despite early optimism by bank officials.

✅ The Czech Republic 🇨🇿 is exploring the implementation of a Central Bank Digital Currency (CBDC).

✅ Vojtěch Benda, a board member of the Czech National Bank, anticipates a CBDC that mimics cash functionality.

✅ However, Tomas Holub, another board member, is skeptical due to unresolved operational queries and undefined political backing for CBDCs.

✅ Human Rights Foundation raises concerns about potential misuse due to Czech Republic's prevalent corruption issues.

✅ Despite being under European Central Bank's authority, the corruption issues can amplify CBDC abuse.

✅ CBDC could enable surveillance, control, and political influence, leading to concerns over human rights and civil liberties.

✅ Detailed reports on human rights violation concerns regarding CBDCs are accessible from noted institutes and organizations.

#CzechRepublic #CentralBankDigitalCurrency #HumanRights #PrivacyConcerns #FinancialSovereignty

How can we ensure that the rollout of CBDCs in countries with corruption problems doesn't exacerbate existing issues and maintains respect for individual liberties and rights?

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Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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⚠️ 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:

Croatia's National Bank is uncertain about the advantages of adopting Central Bank Digital Currencies (CBDCs), given potential costs, risks, and the predominance of cash in the nation's economy.

Analysis:

✅ Croatia 🇭🇷 is researching potential adoption of CBDCs, but the Croatian National Bank questions whether benefits outweigh the risks and costs.

✅ The National Bank sees no immediate economic or strategic reason to initiate a digital version of the Croatian Kuna.

✅ Despite a high freedom score, corruption exists in Croatia which could influence the CBDC's operation, although European Central Bank would be the issuing authority.

✅ Rampant corruption in the country raises flags about potential surveillance, control, or manipulation under the guise of CBDCs.

✅ These concerns might influence the design of CBDC policy, provoking tactics of political favoritism.

✅ For deeper insights into human rights and civil liberties, reference is made to several reports by international bodies and a thorough treatise on the risks of CBDCs by the Cato Institute.

Hashtags:

#CroatiaCBDC #DigitalCurrency #FreedomHouse2023 #HumanRightsWatch #PrivacyInternational #CatoInstitute #AmnestyInternational

Question:

What are your thoughts about the potential risks and implications of introducing a CBDC in a country grappling with transparency and corruption issues? Could the benefits of digitized currency prevail over these challenges? Let us know your perspectives.

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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⚠️ HRF CBDC ⛓️🪙 alert from HRF for Czech Republic (29-DEC-2023)

🗝️ℹ️ (Key Information)

CBDC Status: Research

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 15.1%

One-Sentence Summary:

Czech Republic explores CBDCs amidst concerns over corruption and surveillance.

✅ The🇨🇿 is in the research phase of developing Central Bank Digital Currencies (CBDCs) as conveyed by Vojtěch Benda from the Czech National Bank, envisioning its function like cash.

✅ Tomas Holub, another board member, expresses uncertainty over politicians entrusting them with CBDC capabilities and concerns about its operation and inability for anonymity due to anti-money laundering requirements.

✅ 🇨🇿 scored 92/100 in the 2023 Freedom House's Freedom report, indicating concern for corruption, which could be exacerbated by the introduction of a CBDC.

✅ The question of the ability of the Czech government to abuse a CBDC arises due to its provision by the European Central Bank representing the European Union, therefore the degree of control is arguable.

✅ Corruption has tainted Czech politics in form of bribery, subsidies and politically driven investigations, further raising queries whether CBDCs will be used improperly for political gains.

✅ Concerns violating human rights, risks of CBDCs are documented in reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, US Department of State and the Cato Institute.

#CentralBankDigitalCurrency #CzechRepublic #HumanRights #FreedomHouse #CzechNationalBank #EuropeanCentralBank #Corruption

How can Central Bank Digital Currencies be designed to prevent misuse and to safeguard freedom and human rights?

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Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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⚠️ 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:

"Croatian National Bank's consideration of Central Bank Digital Currency raises human rights and corruption concerns."

✅ Croatia 🇭🇷 is considering a Central Bank Digital Currency, but the Croatian National Bank's report suggests the country's current economic system and cash role do not justify a digital currency yet.

✅ Despite a commendable score of 84/100 in the Freedom House 2023 report, corruption remains an issue, which could be exacerbated by the introduction of a CBDC in Croatia.

✅ Any potential abuse of a CBDC by the Croatian government is questionable as the CBDC would be under the jurisdiction of the European Central Bank.

✅ With a significant level of corruption including nepotism, bribery, fraud, and patronage, the potential for government promises about CBDC risks to be trustworthy is doubtful.

✅ Concerns about potentially using CBDC policies to further political favoritism through subsidies, price controls, or other targeted restrictions are prevalent.

#CBDCs #HumanRights #Croatia #Corruption #DigitalCurrency

Do you think bringing digital currency into a country with current issues of corruption would amplify the problems, or could it help to bring about greater transparency and accountability? Let's discuss!

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Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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