In reference to David Jhinku’s blog regarding the change of the Canadian currency, Canada is finally challenging the use and creation of counterfeit bills by introducing a new polymer based note. One hundreds are released this November, with fifties released in March 2012, and twenties, tens, and fives following in 2013. This new currency has security features that people will find hard to replicate; they include:

Raised ink
Large Window
Metallic Portrait
Metallic building
Small numbers
Transparent text
Maple leaf border
Frosted maple leaf window
Hidden numbers

The pros: The new bank notes last nearly 2.5 times longer; are more secure.

The cons: The cost of production is almost double the present cost of our current paper notes. At almost 19 cents per note, it may seem silly to install a new note system regarding our economy and lifestyle.

In hindsight, the new note system may be an investment for the past as we are slowly moving away from cash to digitalized payments, whether with the credit card system or our cell phones. Although cash accounts for 50% of transactions, it will slowly decrease until new methods overshadow our current ways. The Bank of Canada should take this into consideration and always be a step ahead.

Reference article: https://blogs.ubc.ca/davidjhinku/
http://www.bankofcanada.ca/banknotes/bank-note-series/polymer/