India has had some success to encourage digital transactions in a first phase to bring in the unbanked masses. Seems to me something similar yet on a smaller scale as Argentina Mercado Pago adoption.
Now India is thinking to go to the next stage of a real digital currency CBDC. Not a cryptocurrency.
The Reserve Bank of India is set to launch the pilot of its central bank digital currency (CBDC), which it categorizes as legal tender in a digital form. Commonly known as the digital rupee, it will be exchangeable at par with existing currencies and will be considered acceptable for payments and a