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:
United Arab Emirates 🇦🇪 pilots Central Bank Digital Currency amidst worries over human rights violations and increasing state surveillance.
✅ The United Arab Emirates government is in the pilot phase of its Central Bank Digital Currencies (CBDC) strategy, including cross-border transactions and domestic issuance.
✅ In 2018, the UAE central bank engaged in a wholesale CBDC pilot, 'Project Aber', with the Saudi Central Bank, aimed at enhancing cross-border payments and examining the viability of distributed ledger technology.
✅ By 2021, in collaboration with the Bank for International Settlements, the UAE central bank initiated another wholesale CBDC pilot, 'Project mBridge', targeting key inefficiencies in cross-border payments, while ensuring currency sovereignty and financial stability.
✅ 'Project mBridge' was duly completed in 2022 and by 2023, the launch of the CBDC strategy was announced by the UAE Central Bank governor Khaled Mohamed Balama as an evolution in money and payments. This was set out to take 12-15 months with companies G42 Cloud and R3.
✅ However, the UAE scored poorly (18 out of 100) in Freedom House’s 2023 report, raising significant concerns related to overseeing a CBDC, given the country's stringent laws regulating media and widespread surveillance.
✅ Activists, critics, and political dissidents have been targeted using financial tools as part of suppression strategies - something a CBDC could likely further enable.
✅ Advanced surveillance technologies have been used to monitor public spaces, internet activities, among others in the UAE, a CBDC could potentially enhance this ability, encroaching on individual liberties, and breaching privacy.
#HumanRights #CBDC #UnitedArabEmirates #FinancialFreedom
What do you think about the potential for state scrutiny and control in the personal finances of citizens in countries with strict media laws and stringent monitoring of activities using CBDCs?
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:
United Arab Emirates 🇦🇪 pilots Central Bank Digital Currency amidst worries over human rights violations and increasing state surveillance.
✅ The United Arab Emirates government is in the pilot phase of its Central Bank Digital Currencies (CBDC) strategy, including cross-border transactions and domestic issuance.
✅ In 2018, the UAE central bank engaged in a wholesale CBDC pilot, 'Project Aber', with the Saudi Central Bank, aimed at enhancing cross-border payments and examining the viability of distributed ledger technology.
✅ By 2021, in collaboration with the Bank for International Settlements, the UAE central bank initiated another wholesale CBDC pilot, 'Project mBridge', targeting key inefficiencies in cross-border payments, while ensuring currency sovereignty and financial stability.
✅ 'Project mBridge' was duly completed in 2022 and by 2023, the launch of the CBDC strategy was announced by the UAE Central Bank governor Khaled Mohamed Balama as an evolution in money and payments. This was set out to take 12-15 months with companies G42 Cloud and R3.
✅ However, the UAE scored poorly (18 out of 100) in Freedom House’s 2023 report, raising significant concerns related to overseeing a CBDC, given the country's stringent laws regulating media and widespread surveillance.
✅ Activists, critics, and political dissidents have been targeted using financial tools as part of suppression strategies - something a CBDC could likely further enable.
✅ Advanced surveillance technologies have been used to monitor public spaces, internet activities, among others in the UAE, a CBDC could potentially enhance this ability, encroaching on individual liberties, and breaching privacy.
#HumanRights #CBDC #UnitedArabEmirates #FinancialFreedom
What do you think about the potential for state scrutiny and control in the personal finances of citizens in countries with strict media laws and stringent monitoring of activities using CBDCs?
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