Currency Spectrum Futures – what lies beyond traditional banknotes?

What might more radical banknotes of the future look like, and what kind of worlds would they inhabit? SICPA embarked on a multi-year exploration to better understand the evolution of banknotes and other payment artefacts – their purpose, use and form.

We adopt a design lens to delve into the Currency Spectrum – from physical cash to digital – examining how non-traditional banknotes and related payment instruments might respond to future needs. Whom would they serve, what possibilities might they unlock, and with which trade-offs? Among the many critical questions explored:

• What would banknotes optimised for storage rather than tractions look like? 
• Would ATM-printed scrips eventually replace traditional banknotes?
• What would competitive digital cash look like?
• What defines a competitive payment artefact in an evolving financial ecosystem? 

First, we map the boundaries of the Currency Spectrum, spanning the area between the physical and digital – from cash, to non-traditional banknotes, to digital financial tools. We then present insights gathered from 250 contacts, spanning over 30 futuring workshops and multi-stakeholder events.

We present speculative design outcomes, which produced over 30 conceptual use cases, across 15 different speculations. We conclude by sharing the resulting recommendations, emerging tensions, and choices to make by central banks and other cash cycle actors, concerning the evolution of cash and related payment instruments.