Modernizing Canada's currency through chemistry

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Chemistry = Solutions

Jun24

Modernizing Canada's currency through chemistry

6/24/2011 2:06:00 PM by smayes

“Do you want to pay with cash or plastic?”

Beginning in November 2011, that could be a redundant question. That’s when the Bank of Canada will begin introducing polymer banknotes into circulation, in an effort to modernize Canada’s currency. Canada won’t be the first country to use chemistry-inspired cash – some 30 other countries in the world already have at least some polymer-based bills in circulation, as they last much longer and provide more security than the cotton-based money.

Biaxially-oriented polypropylene or BOPP – a non-fibrous and non-porous polymer – will be used to make the new currency. BOPP-based bills can incorporate all of the security features of paper banknotes, plus some additional technologies that cannot be reproduced by scanning or photocopying, making them more difficult to counterfeit than conventional money.

While the main advantage of polymer banknotes is their security, they also provide improved durability; polymer bills are proven to last at least four times as long as conventional paper bills. Their extended lifecycle means that fewer banknotes have to be printed in the long term, which not only improves the quality of the bills in circulation, but also provides cost-savings.

Polymer banknotes also address society’s increasing concern with environmental protection; they are 100 per cent recyclable and can be converted into other plastic products after they are removed from circulation. When compared to traditional paper banknotes – which are made from farm-grown cotton and are disposed of through incineration or landfills – polymer bills present a much “greener” option.

Polymer banknotes are a clear example of how chemistry improves our lives, by providing a more durable, secure and environmentally sustainable currency for Canadians.