🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 13.9%
One-Sentence Summary:
Central Bank in 🇪🇬 Egypt plans to issue its own digital currency by 2030, amidst concerns about freedom and rampant corruption.
✅ The Central Bank of 🇪🇬 Egypt is currently researching the development of Central Bank Digital Currencies (CBDCs), with the aim of offering savings and lending services.
✅ Reports from 2024 suggest the launch of this "E-Pound" may occur by 2030.
✅ 🇪🇬 Egypt's track record in Freedom House’s 2023 report rings alarm bells, scoring a low 18 out of 100, leading to worries that a CBDC could exacerbate current oppression and corruption issues.
✅ Activists, opposition parties, and critics of the regime face regular intimidation and suppression, portraying an image of an oppressive state control, which could be strengthened by a CBDC.
✅ Reports trace incidents of asset freezing, travel bans, and physical assault. A CBDC could amplify these practices as governments will be in direct control of citizen finances.
✅ The extensive corruption across government structures adds another layer of anxiety. Such a scenario puts at risk any potential promises around control, surveillance, and other risks a CBDC could bring.
✅ This concern also opens up the possibility of political favoritism affecting the policies around CBDCs, thereby disadvantaging certain segments of society.
Hashtags:
#HumanRights #FinancialFreedom #DigitalCurrency #FreedomReport #Egypt2023
Question:
Considering the current state of freedom and civil liberties in 🇪🇬 Egypt, how do you think the potential rise of the E-Pound will affect the socio-political landscape of the country? Could this be a tool for financial freedom or an instrument for further oppression and corruption? We're eager to hear 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
