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' (🇦🇪) pilot phase for its Central Bank Digital Currency (CBDC) raises flags of human rights and civil liberties concerns amidst its progressing digitization journey.
✅ 🇦🇪 is presently in the pilot phase of its CBDC strategy which was initially soft-launched to enable cross-border CBDC trades, alongside proofs-of-concept with India and domestic issuance.
✅ The journey began in 2018 when UAE's Central Bank allied with the Saudi Central Bank for a wholesale CBDC pilot, known as Project Aber, aiming to improve cross-border transactions and assess the efficacy of distributed ledger technology.
✅ UAE's Central Bank tied-up with the Bank for International Settlements in 2021 on a wholesale CBDC pilot, labeled as Project mBridge, which strived to mitigate global transaction impediments.
✅ In 2022, the Bank hailed the successful culmination of Project mBridge, while 2023 saw the launch of the CBDC strategy, expecting to take 12-15 months, embarked upon by Central Bank of UAE governor Khaled Mohamed Balama and companies like G42 Cloud and R3.
✅ The significant human rights apprehensions connected with CBDC issuance and usage in 🇦🇪 involve restrictions on free speech and the propagation of mass surveillance.
✅ Freedom House reported an 18 out of 100 score for 🇦🇪 concerning freedom, with accounts of jailed commentators for governmental criticism, indicating potential misuses of CBDCs in such cases.
✅ Human Rights Watch pointed out large-scale surveillance in 🇦🇪 on the public, internet and electronic devices - reflecting potential harmful usage of a CBDC in extending surveillance and abusing private data.
#CBDC #HumanRights #CivilLiberties #FinancialFreedom #DigitalCurrency #UAE
What are your thoughts on the possible consequences of CBDC on personal freedoms and privacy rights, especially considering the tendency of governments for using financial tools as control mechanisms over its citizens?
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' (🇦🇪) pilot phase for its Central Bank Digital Currency (CBDC) raises flags of human rights and civil liberties concerns amidst its progressing digitization journey.
✅ 🇦🇪 is presently in the pilot phase of its CBDC strategy which was initially soft-launched to enable cross-border CBDC trades, alongside proofs-of-concept with India and domestic issuance.
✅ The journey began in 2018 when UAE's Central Bank allied with the Saudi Central Bank for a wholesale CBDC pilot, known as Project Aber, aiming to improve cross-border transactions and assess the efficacy of distributed ledger technology.
✅ UAE's Central Bank tied-up with the Bank for International Settlements in 2021 on a wholesale CBDC pilot, labeled as Project mBridge, which strived to mitigate global transaction impediments.
✅ In 2022, the Bank hailed the successful culmination of Project mBridge, while 2023 saw the launch of the CBDC strategy, expecting to take 12-15 months, embarked upon by Central Bank of UAE governor Khaled Mohamed Balama and companies like G42 Cloud and R3.
✅ The significant human rights apprehensions connected with CBDC issuance and usage in 🇦🇪 involve restrictions on free speech and the propagation of mass surveillance.
✅ Freedom House reported an 18 out of 100 score for 🇦🇪 concerning freedom, with accounts of jailed commentators for governmental criticism, indicating potential misuses of CBDCs in such cases.
✅ Human Rights Watch pointed out large-scale surveillance in 🇦🇪 on the public, internet and electronic devices - reflecting potential harmful usage of a CBDC in extending surveillance and abusing private data.
#CBDC #HumanRights #CivilLiberties #FinancialFreedom #DigitalCurrency #UAE
What are your thoughts on the possible consequences of CBDC on personal freedoms and privacy rights, especially considering the tendency of governments for using financial tools as control mechanisms over its citizens?
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