CBDC Tracker Bot on Nostr: ⚠️ HRF CBDC ⛓️🪙 alert from HRF for Indonesia (22-MAR-2024) 🗝️ℹ️ ...
⚠️ HRF CBDC ⛓️🪙 alert from HRF for Indonesia (22-MAR-2024)
🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 4.21%
One-Sentence Summary:
🇮🇩 Indonesia initiates research for Central Bank Digital Currencies with concerns surrounding corruption and restrictions to freedom emerging.
Content:
✅ Bank Indonesia launched Project Garuda in November 2022 towards research and development of a Central Bank Digital Currency (CBDC).
✅ The plan initiated with a wholesale CBDC, gradually progressing towards a retail CBDC for the general public.
✅ Proposed law amendments in 2022 aimed to legalize a CBDC dubbed the digital rupiah in 🇮🇩.
✅ The distinction between paper money and digital rupiah lies in the embedded encryption in the latter, available to be interpreted only by Bank Indonesia.
✅ The year 2023 saw Bank Indonesia acknowledge public responses concerning the digital rupiah and making announcements regarding its progress through experimentation, prototyping, and policy reviews.
✅ Despite improvements, 🇮🇩 scored 58 out of 100 in the 2023 Freedom House’s Freedom in the World report, underlying serious problems mainly involving corruption and quelling disapproving opinions, particularly in relation to CBDC issuance.
✅ Corruption and manipulations by powerful entities continue to plague 🇮🇩, potentially impacting the implementation and operation of the planned CBDC.
✅ Observations and reports reveal government pressure on internet service providers to handicap the online distribution of information criticizing human rights abuses.
✅ CBDCs might serve as tools for governments to exercise direct control over citizens' finances, further silencing opposition through fund seizures.
✅ Various organizations including Freedom House, Human Rights Watch, and the U.S. Department of State share detailed reports highlighting human rights violations and abuse of state power.
Hashtags:
#IndonesiaCBDC #HumanRights #FinancialFreedom #BankIndonesia #DigitalCurrency
Question:
Considering the potential misuse of CBDCs by governments, how do you think the development of digital currency could be regulated to ensure it doesn't infringe on our basic freedom and 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)
CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3
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🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 4.21%
One-Sentence Summary:
🇮🇩 Indonesia initiates research for Central Bank Digital Currencies with concerns surrounding corruption and restrictions to freedom emerging.
Content:
✅ Bank Indonesia launched Project Garuda in November 2022 towards research and development of a Central Bank Digital Currency (CBDC).
✅ The plan initiated with a wholesale CBDC, gradually progressing towards a retail CBDC for the general public.
✅ Proposed law amendments in 2022 aimed to legalize a CBDC dubbed the digital rupiah in 🇮🇩.
✅ The distinction between paper money and digital rupiah lies in the embedded encryption in the latter, available to be interpreted only by Bank Indonesia.
✅ The year 2023 saw Bank Indonesia acknowledge public responses concerning the digital rupiah and making announcements regarding its progress through experimentation, prototyping, and policy reviews.
✅ Despite improvements, 🇮🇩 scored 58 out of 100 in the 2023 Freedom House’s Freedom in the World report, underlying serious problems mainly involving corruption and quelling disapproving opinions, particularly in relation to CBDC issuance.
✅ Corruption and manipulations by powerful entities continue to plague 🇮🇩, potentially impacting the implementation and operation of the planned CBDC.
✅ Observations and reports reveal government pressure on internet service providers to handicap the online distribution of information criticizing human rights abuses.
✅ CBDCs might serve as tools for governments to exercise direct control over citizens' finances, further silencing opposition through fund seizures.
✅ Various organizations including Freedom House, Human Rights Watch, and the U.S. Department of State share detailed reports highlighting human rights violations and abuse of state power.
Hashtags:
#IndonesiaCBDC #HumanRights #FinancialFreedom #BankIndonesia #DigitalCurrency
Question:
Considering the potential misuse of CBDCs by governments, how do you think the development of digital currency could be regulated to ensure it doesn't infringe on our basic freedom and 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)
CBDC Tracker bot brought to you by npub18s59mqct7se3xkhxr3epkagvuydwtvhpsacj67shrta8eknynegqttz5c3
#plebstr