Japan has announced the issuance of new banknotes featuring historic figures that appear to rotate in 3D. The design change aims to combat counterfeit bills and enhance security measures. The new banknotes include the 10,000 yen, 5,000 yen, and 1,000 yen bills, all of which will have larger face value numbers for easy recognition. Additionally, tactile marks will be added to assist visually impaired individuals [72f04388].
The 10,000 yen note will showcase Eiichi Shibusawa, also known as 'the father of Japanese capitalism,' with Tokyo Station depicted on the reverse side. The 5,000 yen note will feature educator Umeko Tsuda, accompanied by wisteria flowers on the back. Finally, the 1,000 yen note will display the portrait of microbiologist Shibasaburo Kitasato, with 'The Great Wave off Kanagawa' adorning the flipside [72f04388].
The introduction of these new banknotes is part of Japan's ongoing efforts to promote cashless payments while maintaining the availability of physical currency. Japan aims to encourage the adoption of digital payment methods, as cashless payments have become increasingly popular in several countries, including the United States, China, and South Korea. However, it is important to note that existing banknotes will remain valid, and the issuance of new banknotes does not imply the phasing out of physical currency [72f04388].
In addition to the design changes, the new banknotes will incorporate enhanced security features to deter counterfeiting. The inclusion of rotating 3D figures adds a dynamic element that makes it more difficult to replicate the banknotes accurately. These measures aim to ensure the integrity of the currency and maintain public trust in the monetary system [72f04388].
The issuance of the new banknotes is expected to be completed by the end of March next year, with approximately 7.5 billion new banknotes being printed. The introduction of these banknotes aligns with Japan's broader goal of transitioning towards a more cashless society, while still providing options for those who prefer to use physical currency [72f04388].
Meanwhile, in Nepal, farmers are cashing in on the cultivation of the Edgeworthia gardneri shrub, known as argeli in Nepali and mitsumata in Japanese, which is used to make Japanese banknotes. The bark of the shrub is exported to Japan, where it is processed to print the yen. Due to a shortage of Japanese manufacturers, foreign-produced mitsumata, including from China and Nepal, have been used as raw material to make banknotes since 2010. Kanpou Nepal, the sole supplier of argeli used to make the Japanese yen, now exports between 80 and 100 tonnes annually. The cultivation of argeli has provided a source of income for farmers in remote Nepali villages and has contributed to the country's economy [523f9cd3].
The introduction of the new banknotes in Japan and the cultivation of argeli in Nepal highlight the interconnectedness of global currency systems and the economic opportunities they create. While Japan focuses on enhancing security measures and combating counterfeiting with the inclusion of rotating 3D figures, Nepali farmers are benefiting from the demand for the shrub used to make Japanese banknotes. These developments demonstrate the diverse ways in which currency production and circulation impact different regions and communities [72f04388] [523f9cd3].