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Dec 01

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A New High Tech Currency

Many of us are used to using plastic debit and credit cards to make a majority of our purchases.  But how about plastic currency?  Canada has already created plastic money and will be rolling out the new bills later this month.  The currency is made from a single piece of polymer which gives it a much longer life than paper currency.  High security features are also imbedded in these new notes, making them hard to counterfeit.  Canada will start with putting the $100 note into circulation this month.  Canada will follow up with the $50 bill in 2012 and the $20, $10, and $5 bills in 2013.

In these trying times for many governments around the world, the new plastic currency may reduces costs by making currency last longer.  With the addition of additional security features, governments can crack down on counterfeiters as well.  Which countries will be next to produce plastic currency?

Here is a link to a short video on Canada’s new high tech currency.

About the author

Anand Khemlani

I am a founding member of Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I am a Certified Public Accountant (CPA), Accredited in Business Valuation (ABV), a Certified Fraud Examiner (CFE) and am a licensed Real Estate Broker. I regularly serve as an expert witness involving results of my forensic accounting assignments and damage analyses. My resume is available on Fulcrum's website

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