According to CCL Secure, as well as delivering a much reduced risk of counterfeiting, significantly longer life in circulation, and cleaner surface that’s less likely to harbour bacteria, polymer banknotes are also more environmentally sustainable than paper alternatives.
The Federal Reserve System’s Cash Product Office announced earlier this month that Giesecke+Devrient Currency Technology America has been awarded a new contract to build the central bank’s next generation of high-speed currency processing equipment (NextGen).
The Chairman of the Federal Reserve, Jerome Powell, told the House Financial Committee in Congress that ‘with the partial closure of the economy, the flow of coins through the economy has gotten… It’s kind of stopped.’
Meanwhile, the logical advocates for cash, central banks, maintain determinedly their neutrality about different payment instruments and won’t promote one over another – arguing for choice and seeking the lowest payment cost to the economy and society.
We aren’t just publishers of Currency News™ – one of half of the publishing venture, Reconnaissance International, is also organiser of the three regional High Security printing conferences and the Optical and Digital Document Security events.