Brief
In an age of Apple Pay, Bitcoin, contactless, Paypal and other options for the transferring of funds, is there a future for "real" money?
Undertake research into the development of coinage and banknotes while also exploring the cultural understandings of legal tender.
Following this initial engagement, begin a more developed interrogation of financial transactions in order to complete your own proposal for the future of the banknote.
Research & Initial Thoughts
Money is seen as any 'clearly identifiable object of value that is accepted as payment for goods and services'.
For the most part each country has their own currency, some share the same currency e.g. the euro. There are ways to exchange a certain amount of one currency for another to use within another country, known as 'exchange rates'.
But this hasn't always been the case, before money, goods were generally exchange for other goods. Those goods being anything from cattle to wheat to expensive beads were used as currency before money came about.
Given how the world revolves around money it needs to be something universal and most definitely needs to be versatile enough to allow for use by anyone even those visually impaired, so incorporating something such as braille is a must.
One thing I started off by doing was asking friends and family what they would currently change or do differently about the current bank note.
Plastic Bank Notes
Polymer
Most currency notes at this moment in time are paper bank notes, but slowly over the years more and more countries are transitioning over to polymer notes simply because of how much of an advantage they have over paper bank notes.
Waterproofing is a current problem with paper bank notes, accidentally putting money through the washing machine or spilling something onto it etc. are all everyday problems with having paper notes. But using polymer for bank notes that are coated in varnish protect from this problem occurring.
Process of Polymer Bank Notes:
Aside from the obvious con of the transition, that being cost, ultimately it would benefit the economy long term through not having to replace the notes as often from ripping, tearing etc. since polymer is a much more durable material.
Another benefit of polymer banknotes include them being harder to counterfeit, especially considering in 2012 over 700,000 counterfeits were removed from circulation which show it's an obvious problem with current bank notes.
Security Features are another advantage that polymer bank notes have over current paper notes. Examples of these features include intaglio printing, offset and letterpress printing, latent images, micro-printing and intricate background patterns.
Some of these examples are things that I will be able to incorporate into my bank note such as letterpress and intaglio printing, but other more complex features such as micro-printing won't be feasible due to it's complexity.
One potential security feature that I think is feasible and could potentially be included is a clear screen print of either a symbol or type. But this wouldn't be visible upon first glance but only when looked at from certain angles.
I will aim to incorporate at least one or possibly even several of these security features to ensure my bank note is something realistic and functional as opposed to purely aesthetic based.
Another problem with the current bank notes, is the ability to differentiate between notes within dark lighting. Although this doesn't seem like such a problematic thing, I think it's something that should definitely be solved given how money is such an integral part of everything we do and so it should be made to withstand any given environment.
Potentially adding something such as a reflective number onto the bank note so that it will be easier to differentiate between them in dark environments.
Given how the world revolves around money it needs to be something universal and most definitely needs to be versatile enough to allow for use by anyone even those visually impaired, so incorporating something such as braille is a must.
 |
| Example of braille on a banknote |
Plastic Bank Notes
Polymer
Most currency notes at this moment in time are paper bank notes, but slowly over the years more and more countries are transitioning over to polymer notes simply because of how much of an advantage they have over paper bank notes.
Waterproofing is a current problem with paper bank notes, accidentally putting money through the washing machine or spilling something onto it etc. are all everyday problems with having paper notes. But using polymer for bank notes that are coated in varnish protect from this problem occurring.
Process of Polymer Bank Notes:
Aside from the obvious con of the transition, that being cost, ultimately it would benefit the economy long term through not having to replace the notes as often from ripping, tearing etc. since polymer is a much more durable material.Another benefit of polymer banknotes include them being harder to counterfeit, especially considering in 2012 over 700,000 counterfeits were removed from circulation which show it's an obvious problem with current bank notes.
Security Features are another advantage that polymer bank notes have over current paper notes. Examples of these features include intaglio printing, offset and letterpress printing, latent images, micro-printing and intricate background patterns.
Some of these examples are things that I will be able to incorporate into my bank note such as letterpress and intaglio printing, but other more complex features such as micro-printing won't be feasible due to it's complexity.
One potential security feature that I think is feasible and could potentially be included is a clear screen print of either a symbol or type. But this wouldn't be visible upon first glance but only when looked at from certain angles.
I will aim to incorporate at least one or possibly even several of these security features to ensure my bank note is something realistic and functional as opposed to purely aesthetic based.
 |
| Example of Micro-Printing |
 |
| Example of Intaglio Printing |
 |
| Example of Letterpress Printing |
Potentially adding something such as a reflective number onto the bank note so that it will be easier to differentiate between them in dark environments.
 |
| Example of Reflective Lettering |
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