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Currency Industry Insights

The global magazine of De La Rue, EXCHANGE, is designed to be a forum for all those involved in maintaining secure transactions worldwide and participation in a global economy. Two articles from our most recent magazine are highlighted below.

bitcoin

Crypto Currencies

Crypto Currencies

Alternative currencies are not new, but digital or virtual currencies are. The first, biggest and best-known ‘crypto currency’ – Bitcoin – was launched in 2009, by a mysterious person or group of people known as Satoshi Nakamoto. We interviewed Victoria Cleland, Chief Cashier of the Bank of England, to get her point of view on virtual currencies.

When asked whether digital currencies threaten the future of cash, Victoria's response was:

At the moment, in line with most other central banks, we are still seeing an increase in demand for cash year on year. There are a variety of reasons people like to use cash; it is anonymous, it is easy to use and some people like to hoard cash.

There are a lot of alternatives to cash out there – credit cards, cashless payment and so on – yet the demand for cash continues to pick up. Digital currencies could perhaps nibble away at the edges but perhaps they would more likely be used as a substitute for other electronic cash alternatives.

bitcoin

Integrated banknote service: the advantages

Integrated banknote service: the advantages

De La Rue’s banknote service covers every stage of design and production. It is the only supplier in the world to offer this range in-house for both paper and polymer notes. Exchange examines the benefits to customers.