Name: Australia's banknotes may be the most advanced in the world | CNBC Reports
Uploaded: 2020-02-25T09:22:00.000Z
Duration: 1 min 53 s
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Australia's currency is one of the most advanced banknotes in the world.

The nation's cash is completely waterproof, hard to counterfeit and

ultimately cleaner since it's resistant to moisture or dirt.

Australia's banknotes are made of polymer, which feels a bit waxy.

While U.S. banknotes, on the other hand, are made from cotton fiber paper.

Polymer banknotes tend to last two to three times longer than paper notes,

And when you think that, for example, the U.S. ten dollar bill

is replaced every four and a half years, well that can amount to a lot of cash.

Australia continues to advance its banknotes too.

Take a look at Australia's new $5 banknote.

As you tilt the banknote, you'll see a rolling color effect, and if you move it the proper way,

you'll even see this bird move its wings and change colors.

In 2015, the Reserve Bank of Australia said it would add a tactile feature

to help the visually impaired know the value of each note.

Australia was the first to introduce polymer banknotes, and now

it's been adopted completely by other countries like Canada and Vietnam.

While the United Kingdom introduced polymer into its circulation in 2016.

But as some countries push for a future cashless society in years to come,

will other countries even bother advancing their own banknotes?