Production of New Zealand Bank Notes Continues Decline

Cash

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Remember cash? Do you still carry any? In the last few years with eMoney it has almost become non existent. New Zealand was one of the first countries to adopt EFTPOS as a way to reduce the risks and costs around cash management many yeas ago.

With so many people buying everything from groceries to electronics online or on finance, cash has become almost a thing of the past and something Kiwi travellers now find quite novel when we travel overseas.

It has been very interesting for the Government to deal with because in many cases where goods are purchased from overseas, they miss the opportunity to charge GST or other duties when parcels come from overseas in the mail.

New forms of virtual money have appeared and companies like Google, Facebook and Zynga have started creating their own value systems and many new barter organisations have appeared, while the old vanguards such as Bartercard are growing in popularity.

The old system of cash jobs, the grey market is probably the main area still propping up physical currency at all because even money transferred via eWallets through intermediaries such as the Telcos  is still auditable. Out of interest, New Zealand hasn’t minted 5 cent coins since 2004, 20 cent coins since 2008 and the number of bank notes produced has been in decline at a rate of over 10% p.a. since 2010 even though our population has grown dramatically with increased immigration.

It is expected that within another 20 years bank notes and coins will become collectors items and future generations will look at them as an interesting historic item and wonder why anyone ever bothered with them.

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Enhanced Human World Champs

The Enhanced Human World Champs are coming to New York next year and I’m wondering if it is going to change everything. Whilst the glamour sports of the Olympics like gymnastics will continue to draw a crowd, things are going to change dramatically for athletics in particular.

It started with the military with HULC as per the video above and with products from New Zealand from companies like Rex Bionics, which was of course about helping disabled people, but the obvious thought was “If disabled people can move and compete with able bodied people, what could strong and fit people do?”

The rest as they say is history, now we have people running the Super Marathon (126.6km) in under 4 hours. The question is whether people will continue to support the traditional sports or will just consider them as boring in future? The irony is that whilst much of this technology was developed for military use, most of the things that humans would have done in these exoskeletons are now done by robots.

NZ6 Goes Pop Pop Pop

I was just sitting down to dinner this evening and I heard this loud noise, POP, POP, POP, POP. It reminded me of back when I was a young fella riding a Triumph Saint which used to backfire when the timing was slightly out. At first I thought it was lightning, we seem to get a lot more storms these days, semi tropical. One minute the weather isn’t that bad, nek minit its persisting down. Perhaps Auckland weather has always been like that, but it does seem to be more dramatic these days.

NZ6

But no, I looked up into the sky and there was the new NZ6, Air New Zealand‘s supersonic passenger aircraft, breaking the sound barrier with its new green low impact mini sonic booms. Not only is the noise reduced, which is just as well given that  I live under the flight path from Auckland to LAX, but it meant that these super fast planes were approved for the long haul flight.

I remember back in the day when that was a 12 hour flight and was an absolute major. You would lose pretty much a full day each way and arrive jetlagged heading for business trips to the USA. Now its a meal and a quick movie, it just about takes longer to get to and from the airport, through immigration and security than it does to get to Los Angeles.

I’d love to have another ride on that old Triumph again though, backfires and all.