CBDC tracker launched by the Human Rights Foundation

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With Central Bank Digital Currency (CBDC) research and adoption progressing throughout the world at a steady pace, many groups and communities have voiced concerns regarding educational outreach for CBDCs, and any possible risks that could arise out of the same.

With the same motive, the Human Rights Foundation has launched a CBDC tracker that will likely go fully operational by the end of this year. The launch event was held at the Oslo Freedom Forum by the non-profit group. For now, the CBDC tracker was seen publishing educational content and a tip line.

The Chief Strategy Officer of the Human Rights Foundation, Alex Gladstein, said, “It’s going to be an online resource that describes the progress of central bank digital currencies around the world, especially in authoritarian countries, and the civil liberties red flags and risks that come along with this.”

The CBDC tracker was the result of a fellowship that lasted for eight months at the Human Rights Foundation. The fellowship holders included podcaster Matthew Mezinskis, policy analyst Nick Anthony, and researcher Janine Romer.

While the Human Rights Foundation is an active supporter of Bitcoin, the CBDC tracker launched at the Oslo Freedom Forum has mentioned a few concerns, including the establishment of a direct link between central banks and their respective citizens.

A CBDC tracker website has also stated how various CBDCs are only at the point of research, and only three have been launched till now. It included the eNaira in Nigeria, the Bahamas’ sand dollar, and the Jam-Dex of Jamaica. 

Fourteen more pilot projects are currently underway across the world, while some, like the digital yuan, have already grown popular with millions of users.

Most central banks worldwide have jumped to researching CBDCs with the many benefits they present, while international organizations like the IMF have also been involved in many of those pilot projects. The next few years could see many of these projects reaping results.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash