CBDC Tracker Bot on Nostr: ⚠️ HRF CBDC ⛓️🪙 alert from HRF for United Arab Emirates (27-MAR-2024) ...
⚠️ HRF CBDC ⛓️🪙 alert from HRF for United Arab Emirates (27-MAR-2024)
🗝️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:
The United Arab Emirates (🇦🇪) is forging ahead on its Central Bank Digital Currency (CBDC) project amid growing concerns over human rights and privacy intrusions.
✅ The UAE government has entered the pilot phase of its CBDC strategy which includes a soft launch for facilitating cross-border transactions and proofs-of-concept both domestically and with India.
✅ In 2018, the UAE and Saudi Central Bank initiated Project Aber, a wholesale CBDC pilot to enhance cross-border payments and examine distributed ledger technology effectiveness.
✅ The UAE Central Bank collaborated with the Bank for International Settlements in 2021 to execute Project mBridge, targeting inefficiencies in cross-border payments while maintaining currency sovereignty and financial stability principles.
✅ 2022 saw the successful completion of Project mBridge announced by the UAE Central Bank.
✅ In 2023, the Central Bank's Governor Khaled Mohamed Balama publicly announced the launch of the CBDC strategy; firms G42 Cloud and R3 supported the execution.
✅ The UAE's dismal ranking of 18 out of 100 in the 2023 Freedom House report raised concerns over the potential misuse of CBDCs in enforcing restrictions on free expression and enlarging the scope of mass surveillance.
✅ Freedom House and Human Rights Watch reports highlight the use of advanced surveillance technologies in the UAE and the risk of CBDCs contributing to increased financial surveillance.
#CentralBankDigitalCurrency #HumanRights #Privacy #FinancialInclusion #DigitalEconomy
Thought-provoking question:
As the UAE ventures further into digital currency, how should the international community balance the exciting transformative potentials of CBDCs with serious concerns about individual freedoms and privacy rights? Let's foster a discussion around this poignant intersection of finance and human rights. Let us know your thoughts!
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)
CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3
#plebstr
🗝️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:
The United Arab Emirates (🇦🇪) is forging ahead on its Central Bank Digital Currency (CBDC) project amid growing concerns over human rights and privacy intrusions.
✅ The UAE government has entered the pilot phase of its CBDC strategy which includes a soft launch for facilitating cross-border transactions and proofs-of-concept both domestically and with India.
✅ In 2018, the UAE and Saudi Central Bank initiated Project Aber, a wholesale CBDC pilot to enhance cross-border payments and examine distributed ledger technology effectiveness.
✅ The UAE Central Bank collaborated with the Bank for International Settlements in 2021 to execute Project mBridge, targeting inefficiencies in cross-border payments while maintaining currency sovereignty and financial stability principles.
✅ 2022 saw the successful completion of Project mBridge announced by the UAE Central Bank.
✅ In 2023, the Central Bank's Governor Khaled Mohamed Balama publicly announced the launch of the CBDC strategy; firms G42 Cloud and R3 supported the execution.
✅ The UAE's dismal ranking of 18 out of 100 in the 2023 Freedom House report raised concerns over the potential misuse of CBDCs in enforcing restrictions on free expression and enlarging the scope of mass surveillance.
✅ Freedom House and Human Rights Watch reports highlight the use of advanced surveillance technologies in the UAE and the risk of CBDCs contributing to increased financial surveillance.
#CentralBankDigitalCurrency #HumanRights #Privacy #FinancialInclusion #DigitalEconomy
Thought-provoking question:
As the UAE ventures further into digital currency, how should the international community balance the exciting transformative potentials of CBDCs with serious concerns about individual freedoms and privacy rights? Let's foster a discussion around this poignant intersection of finance and human rights. Let us know your thoughts!
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)
CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3
#plebstr