Central Bank Digital Currencies (CBDCs) represent a major step by governments into the world of digital money. Unlike decentralized cryptocurrencies, CBDCs are issued and regulated by central banks, offering the promise of faster payments, reduced transaction costs, and greater financial inclusion. Countries like China, Sweden, and the Bahamas are already piloting or launching their own digital currencies, signaling a shift in how state-backed money could function in the future. However, CBDCs also raise critical concerns: How much privacy will users retain? Could governments use CBDCs for increased surveillance or control over spending habits? As more nations explore digital fiat, the conversation around CBDCs is becoming as much about economics as it is about freedom, privacy, and the future balance of power between citizens and the state.