🗝️ℹ️ (Key Information)
CBDC Status: Pilot
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 6.59%
One-Sentence Summary:
Reserve Bank of Australia's development of Central Bank Digital Currencies (CBDCs) raises concerns on financial surveillance and controls, and citizen's freedom to protest and travel.
✅ 🇦🇺 is in pilot phase of developing CBDCs, taking part in multiple projects from 2021-2023, with final report from Reserve Bank of Australia suggesting a CBDC decision is several years away.
✅ Public concerns focus on potential uses of CBDC for widespread financial surveillance, imposing financial controls, negative interest rates, and disrupting the financial system.
✅ Reserve Bank of Australia governor Michele Bullock, in late 2023, suggested uncertainty over retail CBDCs, while future experiments are expected on wholesale CBDCs.
✅ Despite being a free society without significant human rights abuses reported, Australia draws concern with possible CBDC implementation threatening freedom to protest and travel.
✅ Australia's recent restrictive laws on protests, and misuse of CBDC to freeze and seize funds of activists, political rivals and protestors is a concerning potential facet of CBDCs.
✅ Australia maintained one of the strictest quarantine regimes in response to COVID-19, potentially integrating such travel restrictions into a programmable CBDC system.
#CentralBankDigitalCurrency #HumanRights #FinancialFreedom #Australia #Protests #FreeSociety
Are we ready to trade off aspects of our freedoms for the supposed benefits of CBDCs? What mechanisms could be put in place to prevent potential misuse? Let's hear your thoughts and ideas!
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
