Part 4/10:
Strategic timing: India outlined its CBDC plans in October 2022, and by December, it had launched a pilot program for retail CBDC, just two months later.
Speed of implementation: This swift progression underscores how eager India is to integrate digital currency into daily life, contrasting with traditional expectations where such significant changes take years.
The initiative emphasizes the Indian government's intent to provide consumers with a “power of choice,” aligning with the broader push for a cashless economy. Users will typically receive a QR code to facilitate instant transactions, streamlining the payment process.