Ireland CBDC Tracker

CBDC Information

CBDC Status

Research

Economic Information

GDP

$529,245,000,000

Population

5,262,382

Government Information

Form of Government

Liberal Democracy

Rule Of Law

7.69/10

Freedom Rankings

Cato and Fraser Human Freedom Index:

8.79/10

Freedom House Index:

9.7/10

Reporters Without Borders Freedom Index:

8.99/10

Ireland is currently in the research phase. Unlike some other members of the European Union, Ireland appears to be largely deferring to the European Central Bank’s work on its CBDC (referred to as the digital euro). The Central Bank of Ireland provides some information, but it is all predicated on the European Central Bank’s work.

Note: This page is dedicated to the work done by the government in Ireland. However, Ireland is a member of the European Union and Eurozone. If the European Central Bank launches a CBDC (referred to as a digital euro), then this page will be changed to reflect that. Until then, the Eurozone page has notes about the development of the digital euro.

Human Rights and Civil Liberties Concerns

Ireland scored highly across nearly all metrics—earning a 97 out of 100 in Freedom House’s 2023 Freedom in the World report. There have been reports of issues around the treatment of human rights and civil liberties, but most of those issues do not tie directly into the issuance or use of a CBDC. Furthermore, it must be said that the ability of the government to abuse a CBDC directly is debatable because the CBDC that would be used in Ireland would be provided by the European Central Bank—representing the European Union. Even then, however, it’s important to recognize that the creation of a CBDC could open the door to risks to financial privacy and financial freedom.

For additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.