Licence to Print Money

Licence to Print Money //

Money in the form of coins and banknotes has been around for centuries and had been a crucial element of human development. 

Before money, a bartering system was used as a means of trading both goods and services.

Asian Cutlery was a system used by the Chinese where miniature replicas of tools cast in bronze were then used as currency. However, the one major downfall of this system was that a lot of the tools were sharp and pointy and so people often reached into their pockets and injured themselves. Because of this, they were quickly reinvented as circles.

With the evolution of technology in recent times, virtual money such as Bitcoin have come about. 

Bitcoin is a digital asset and virtual payment system invented by Satoshi Nakamoto. There is no physical form of the currency as all transactions are done by computer. It has its own economy with millions of users around the world. This currency can even exchanged for other currencies. The money is described as 'decentralised virtual currency' as it is not government run or owned. The main advantage of the currency is the lower transaction fees which attracts large audiences that often make large transactions. 

It was inevitable that global super power Apple Inc. would get involved and so they did. There newest invention is Apple Pay, a virtual payment system that can be done using an iPhone 6 or later or even an apple watch. This has made it possible to pay for your everyday items using just your phone.

So with all these advancements in technology, the question arises of is there any future for real money such as coins and banknotes?

This is the question I aim to answer through my body of work. First I will be exploring all types of currency out there already. 

One major aspect of real money that I gathered through research online is that a huge number of people will always prefer to hand over real money as apposed to paying through a digital system. Reasons for this include the personal aspect of physically handing over the money. Another reason that is mentioned a lot is the actual feel of money. The feel of a banknote is very unique and so is a strong representation of wealth. People like to have money in their hands and in their wallets as it rewards them not only with wealth but with a sense of achievement in that they have earned it.

Cotton

Most banknotes are made from cotton paper with a weight of 80 to 90 grams per square meter. The cotton is sometimes mixed with linen, abaca or other textile fibres. This gives the banknote a very distinct feel as it is soft yet sturdy. 

There is also some satisfaction shared by everyone with a crisp bank note. When the ATM hands you a perfectly ironed £20 pound note, is almost gives the piece of cotton even more value somehow, even if its worth the same to anyone else.

Unique Design

Another aspect of money that I find fascinating is the fact that the production of the banknote has meant that it is almost impossible to replicate, this had to be achieved in order for the concept of money to work. With all the things achievable with technology these days, it's amazing that it is still so difficult to replicate and reproduce bank notes illegally, not that I'm interested in doing so.

Banknotes all over the world are unique to the country in which they are used. Euros, Dollars, Pound Sterling all have designs including famous buildings, iconic people in history etc. This gives the money a really personal and patriotic feel, which would be quickly lost if all money was handled with digitally. 

From this research, I have decided that there will always be a place for banknotes, even when up against technology. 

The main aspects of money that I will be focusing on in my own design work is the physical feel, weight and design. I will be exploring different stocks, drafting methods, tradtional techniques such as monoprint and etching. 

Thing to Think About //

Purpose - Will it act just as money? or will it have a secondary purpose?

Who will use/ receive the currency?

Where will the currency be used - Unique to a country? Global? will there only be one currency used by all in future?

What materials/ stock to be used? - e.g. cotton, plastic money etc

How many varitions? - e.g. £5, £10, £20, £50..., Larger numbers to communicate inflation that has reduced value of money

Imagery - Relevant to audience, relevant to country, Imagery relevant to value? e.g. the larger the value, the larger the animal etc.

Design my own currency? - e.g. design something with a similar purpose to £,€, $ etc.