Central bank digital currency (CBDC) pilots have evolved into implementations in the past several months. The value proposition of CBDCs is extremely significant and in-line with the principles of decentralized finance (defi) Central banks around the world are developing CBDC pilots. The case of India’s push to digital payments is one example of a nation that may come out ahead in terms of long-term CBDC implementation, despite not having significant first-mover advance in the digital currency space. It will be important for governments to solidify their wallet choices in policy considerations when developing CBDCs, with CBDCs being the gateway into the world of Web 3.0 and beyond.