Canada completed the conversion of its banknotes from cotton-based paper to polymer, or plastic, bills at the end of 2013, just about the time Bank of England announced it would join Canada and another 20-some nations by switching to plastic currency. Since plastic bills cost nearly twice that of paper bills, the question is why countries would make the change now, especially with a growing push by banks to convert consumers to digital payment systems. The pat answer is to combat counterfeiting, which had already begun to drop in Canada before the new polymer bills were introduced. Advanced new sensors that can be embedded in plastic film may offer a hint of the true potential for plastic-based currency.
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