In today’s unpredictable world, resilience and clarity about our supply chain are more vital than ever. On average, supply chain disruptions lasting a month or more happen every three to four years, according to a report by McKinsey & Company. And for every decade of operations, a company can expect disruption to cost as much as half a year’s profits.
The temporary “emission reduction due to the COVID-19 lockdown” is not a significant one.
Various trends in Europe, America and the India have made the likelihood of a cashless society greater. Banks find virtual money more profitable and governments dislike cash for its capacity to evade their radar: hard currency has many enemies. But, as Thomas Savare, CEO of Oberthur Fiduciaire points out, “cash is the last bulwark against the invasion of privacy”.
A security trend has reversed recently in the world of currency. With decades of decline in cash payments, contactless transactions seemed to have steady wind in their sales, namely given their reputation of enhanced security. But as money slowly transfers to the virtual and contactless world, so does crime and fraud. Hard currency, with its own security systems, maybe be fighting the war on cash harder than was expected.
Oberthur Fiduciaire is a french-based leading banknote printing company. Today they are working with over 70 central banks across the globe to deliver the most secure banknotes, which will be used for the years to come. In an age where online and electronic payments seem poised to abolish the good old banknote, Oberthur Fiduciaire believes that cash isn’t only practical, it is also the symbol of liberty and freedom. Moreover, it is often more secure than other means of payment.
You will be surprised to find out that one of the most advanced and fast growing markets is the industry of fraud. One need only look at the statistics!
