Spanish nanotechnology could be used on new Euro banknotes
According to the Spanish National Research Council (CSIC), the next batch of Euro banknotes could be made with new materials and nanotechnology developed in Spain. Presented at the CSIC headquarters in Madrid, they claim that the objective of the new notes is to improve their safety and durability, while increasing the quality and sustainability.
A research team from the Madrid Institute of Materials Science (ICMM-CSIC), is responsible for this development, and it works in collaboration with the Bank of Spain. Funding for this comes from the Eurosystem the monetary authority of the Eurozone.
The Bank of Spain has been advising and collaborating in the CSIC research so that the results of the project can be applied to euro banknotes. This project, which began in October 2019, is due to conclude its first phase in 2022, and is subject to strict confidentiality requirements.
Tasked with safeguarding the integrity and security of euro banknotes is The European Central Bank. With this objective, the European Central Bank, and all national central banks, such as the Bank of Spain, try to incorporate increasingly advanced technologies to achieve better banknotes.