In recent years, Japan has seen a surge in counterfeiting and to combat this issue, the country has introduced new banknotes featuring 3D holograms. The new bills pay homage to Japanese capitalism, women’s equality, and scientific innovation. Prime Minister Fumio Kishida highlighted the significance of these new bills in revitalizing the Japanese economy.
The bills feature holograms of historical figures such as Eiichi Shibusawa, Umeko Tsuda, and Shibasaburo Kitasato. The unique feature of these holograms is that their images change depending on the viewing angle. This adds to the security measures of the bills and is a world first. Shibusawa was a key figure in Japan’s economic development during the Meiji era while Tsuda was a pioneer in women’s education and Kitasato was a bacteriologist known for his contributions to preventive medicine.
Despite a growing trend towards digital payments, Japan remains heavily reliant on cash. Bank of Japan Governor Kazuo Ueda emphasized the importance of cash as a secure and universally accepted form of payment that will continue to be significant in Japan. The government plans to release around 7.5 billion new banknotes by March of the following year while ensuring that existing bills remain valid.
