The Human Rights Foundation (HRF), a pro-Bitcoin non-profit organization, recently announced the launch of a Central Bank Digital Currency (CBDC) tracker at the Freedom of Information Forum. ‘Oslo. This tool aims to flag potential civil liberties issues as more countries embark on the development of CBDCs.
HRF unveils its revolutionary CBDC tracker
Since the emergence of central bank digital currencies (CBDC) by States, many voices have been heard from all walks of life to criticize these initiatives. Although they can facilitate financial inclusion, they are also singled out as potential weapons used by governments to control citizens.
The Human Rights Foundation also seems aware of the issues surrounding these technologies which are spreading rapidly among policy makers and central bankers.
Yesterday June 14, during the Oslo Freedom Forum in Norway, the Human Rights Foundation announcement the launch of a revolutionary new tool: a central bank digital currency (CBDC) tracker designed to monitor developments in this area in terms of respect for civil liberties.
Indeed, the creation of the CBDC tracker follows an eight-month fellowship granted by the HRF to policy analysts and researchers. Among them is Nick Anthony of the Cato Institute, known for his strong opposition to CBDCs. This diversity of experts will help bring a balanced perspective on issues related to CBDCs and human rights.
CBDC Tracker: The Fight for Civil Liberties in Authoritarian Countries
As mentioned earlier, HRF’s CBDC tracker aims to monitor the progress of central bank digital currencies, with a specific focus on authoritarian countries. Its role will be to identify red flags and potential civil liberties risks associated with the adoption of these CBDCs.
According to HRF Chief Strategy Officer Alex Gladstein, the introduction of CBDCs creates a direct link between citizens and central banks, raising significant human rights concerns. The CBDC Tracker will therefore serve as an online resource providing an in-depth analysis of these issues.
” It will be an online resource that outlines the progress of central bank digital currencies around the world, particularly in authoritarian countries, and the red flags and civil liberties risks that come with it.”
The online tracker has already published educational material and offers a user advice line. It should be fully functional by the end of the year. Currently, the vast majority of central banks around the world are still in the CBDC research stage. So far, only three CBDCs have launched: Sand Dollar in the Bahamas, Jam-Dex in Jamaica, and eNaira in Nigeria.
In the United States, the CBDC project is generating heated debate, with voices such as Tom Emmer, Republican member of the United States of Congress, or Alex Mooney, Congressman from West Virginia, who strongly oppose the issuance of the digital dollars. The issue of CBDCs remains a hot topic not only in the United States, but also in many countries around the world, and continues to attract media and political attention.
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