RBI is testing out the e-ropee as an alternative to physical cash for some use cases. They are asking banks not to report low value transactions in a bid to offer same degree of anonymity as physical cash. If we go down this route of transacting with programmable money, then it could be possible for the state to impose all kinds of restrictions. That could be scary. For now, however, the RBI has no such plans. And we will just have to wait and see how the pilot pans out over the next few days.