A move to fight counterfeiting: Japan issues new banknotes with 3D hologram technology
File photo.
Earlier this week, the Japanese government issuedits first new banknotes in two decades. These new banknotes are equipped with 3D hologram technology to fight counterfeiting, reported newsagency Associated Press on Thursday (July 4). Though the banknotes were released with much fanfare, the currency already in use would remain valid.
Citing local media, the reportsaid that people would still need older bills to use most vending machines and to pay bus fares. The government said that by the end of March 2025,nearly 7.5 billion new banknotes would have been printed.
A look at the new banknotes
According to Prime Minister Fumio Kishida, the new10,000 yen, 5,000 yen and 1,000 yen bills feature people celebrating Japan's capitalism, women's equality and scientific innovation.
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The 10,000 yen bill has the face ofEiichi Shibusawaknown as “the father of Japanese capitalism,” a key figure in building the country's modern economy.
The 5,000 yen bill featuresUmeko Tsuda, a pioneer feminist and educator who founded a college. While, the 1,000 yen bill features physician andbacteriologist Shibasaburo Kitasato, who was instrumental in the research of tetanus and the bubonic plague.
The backs of each of the bills feature Tokyo Station, wisteria flowers and ukiyo-e artist Katsushika Hokusai’s Mount Fuji, respectively.
The new banknotesalso feature larger printing so they’re easier to read, especially for the ageing population.
'Hope people will like new bills'
Addressing a press conference at the Bank of Japan, Prime Minister Kishida said on Wednesday, "I hope the people will like the new bills, and they will help energize the Japanese economy."
It may take some timefor ordinary people to get hold of the new banknotes. According to the Bank of Japan, the new bills would first go to banks and other financial organisations.
Then, they would be redistributed to automatic teller machines (ATMs) and stores.
(With inputs from agencies)