Central Bank Digital Currencies (CBDCs) are emerging as digital forms of fiat money issued by governments and backed by central banks. These currencies promise benefits such as faster payments, enhanced financial integration, and reduced transaction costs. However, they also pose risks including potential cyberattacks, increased surveillance, and disruption to traditional banking systems. The Bank for International Settlements (BIS) and the European Central Bank (ECB) are actively monitoring CBDC developments. The ECB suggests that a digital euro could strengthen monetary sovereignty and improve payment efficiency. The report distinguishes between wholesale and retail CBDCs, highlighting challenges in adoption, security, and privacy. Concerns about programmable money features include potential state control over individual financial behavior.