Thursday, 7 April 2016

OUGD505 Brief 1 - What could the future of currency be?

My sources:
http://www.forbes.com/sites/gregsatell/2014/11/08/the-future-of-money/#57c6e4b33243
http://www.investopedia.com/financial-edge/0212/bitcoin-may-be-the-currency-of-the-future.aspx
Book, Bernard Lietaer - The future of money
http://spectrum.ieee.org/static/future-of-money
http://www.cnbc.com/2014/04/24/future-of-money-what-currencies-will-look-like-in-25-years.html
https://www.virgin.com/entrepreneur/in-focus-the-future-of-money

Many sources believe the future of currency to be towards the digitisation, they believe the investment of money has been developing and evolving for some years towards the digitisation. Money therefore would theoretically be expected to be digital and all online, In my opinion I believe this to be untrue although I believe the further development of digitisation of money is definitely a forthcoming I also believe people still do not trust banks which leads me to my theory that money will always be physical for skeptics like me. I want control over my money! I believe that the current system in the uk will continue but also develop in the sense of security and protection - as I have previously highlighted there is a clear structure to the bank note, many security measures are put in place to avoid duplication such as uv ink, silver threading and so much more. Although I believe this to be strong there are many able to counterfeit the notes almost unoticeably, I believe the future of the note will create more barriers agains counterfiet notes such as further patterns, holographic marks, uv ink etc.

Counterfeit notes & Real notes:

http://www.bankofengland.co.uk/banknotes/Documents/kyb_lo_res.pdf








From reading the royal bank of englands "how to spot a fake" it is highlighted few of the security measure put in place, my fave out of the measures has to be the UV hologram, this must be incredibly hard to replicate - I feel a lot of these procedures could be continued on with the bank note - in the future.




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