4429) Did You Know Series (133): 1) Several Central Banks are introducing QR-Codes in BankNotes as an anti-counterfeiting device and Dynamic Digital Information: 2) The AuVerIn signatures/Codes introduced by the Federal Republic of Germany in its Currency Banknotes:
From early experiments in Sweden to broader global adoption, QR codes in banknotes have evolved as both a security feature and a gateway to dynamic digital information.
A 500-krona Banknote from Sweden issued by incorporating QR codes by Sveriges Riksbank .
QR-code technology was invented in 1994 by Masahiro Hara.
Its implementation started in 2011 with a two-coin series struck by the Royal Dutch Mint (RDM).
The insertion of a QR code in bank notes was developed a few years later.
The progress achieved has been significant, with many variations currently in circulation that include a QR code.
The situation contrasts with that of the coins, where QR codes have so far mostly been inserted in commemoratives or bullion Coin issues.
The implementation of QR codes in bank notes provides an additional level of security embedded in the paper:
The QR Code also gives users access to dynamic information about the currency, the issuing institution, or the commemorative events celebrated in the design.
Apart from being the earliest country to implement QR-code technology in coins, The Netherlands was also first in proposing QR-coding in euro notes in 2007. The proposal was not implemented primarily due to security concerns.
In 2012, Sveriges Riksbank announced that it would produce the world’s first bank notes to feature QR codes:
Swedish artist and engraver Göran Österlund won a 2011 competition to design the Banknotes.
Although the new bank notes were expected to enter circulation in 2015, the project was temporarily abandoned due to security concerns. There was a risk that scanning the codes could allow access to users’ personal information.
Some examples of this early currency are known to exist in 500-krona Banknotes that incorporate QR codes on both sides.
When scanned, they redirected to the Riksbank website, which contained information about the institution, its history, and the services it offered to citizens. The corresponding 500-krona notes, without the QR codes, entered circulation in 2014, and the technology has not yet been implemented in Swedish bank notes.
Obverse and Reverse of a 100-Naira Banknote issued by Nigeria in 2014.
In 2014, the Central Bank of Nigeria issued the first functional bank note with a QR code.
A nominal value of 100 naira, it commemorated the centennial of the country’s formal reunification. The QR code engraved on the reverse led users to a website about Nigeria’s history. The Banknotes (151.00 mm x78.00 mm) have been regularly issued.
A 20 Zloty Banknote (138.00 mm x 69.00 mm) was issued in 2015 by Narodowy Bank Polski to commemorate the 600th anniversary of the birth of the historian Jan Długosz.
The QR code was laser-engraved on the obverse against a white background and redirects to a dedicated webpage of the Narodowy Bank Polski that provides information about the Banknotes.
Obverse of a 20-Zloty Banknote issued in 2015.
Thomas de la Rue (a Banknote printing major) printed 5-cedi bank notes (131x68 mm) for Ghana in 2017. The notes were issued in 2017 to commemorate the 60th anniversary of the Central Bank of Ghana.
A QR code was engraved in the reverse that, when scanned, leads to the Bank’s webpage that contains information about the Banknotes.
After years of hyperinflation, Zimbabwe introduced its new currency, Zimbabwe Gold (ZiG), in 2024 to replace the Zimbabwean dollar.
It is backed by physical gold and reserves held in foreign currencies (mostly U.S. dollars) to guarantee stability.
Nonetheless, the measure could not avoid the rapid depreciation of the new currency, and in February 2025, it retained only 5% of its original value against the American dollar.
Those with the lowest nominal values (1, 2, and 5 ZiGs) were not issued, and to date, only the 10- and 20-ZiG notes have entered circulation (since April 30, 2024).
The banking authorities have decided not to put in circulation notes of higher denominations for the time being to prevent inflation.
All notes incorporate a QR code in the obverse that is supposed to redirect to a webpage of the country’s Central Bank.
Russia, the country that has made so far, the most extensive use of the QR technology in its domestic bank notes.
Its Central Bank issued in 2015 a 100-ruble bank note to commemorate the annexation of Crimea by the Russian Federation, which was illegally seized from Ukraine in 2014.
The obverse of the note is dedicated to Crimea and features the castle Swallow’s Nest.
The QR code appears embedded on the lower green stripe and redirects to a webpage of the Bank of Russia with information about the note.
The country also issued a 2018 polymer 100-ruble commemorative bank note made to celebrate the FIFA World Cup in Russia that year.
The QR code redirects to a webpage of the Bank of Russia, that contains information about the note’s security features. While both types of notes were meant to circulate, the country’s ATMs do not accept the polymeric notes issued in 2018.
In 2017, 200- and 2,000-ruble bank notes featuring a QR code on the obverse were issued by Russia.
The Obverse of the 200-ruble Banknotes (150.00 mm x 65.00 mm) portrays the Monument to the Sunken Ships located in Sevastopol, which belonged to Ukraine until its occupation by Russia in 2014. The design is also featured on the reverse 100-ruble commemorative note issued in 2015.
The Obverse of the 2,000-ruble banknote (157.00 mm x 69.00 mm) features the Russky Bridge that connects the island with the mainland in Vladivostok.
The QR codes were engraved on the respective obverses and link to a dedicated webpage of the Bank of Russia containing information on their security features. The implementation of the QR codes as well as the new colours used in both banknotes were selected through a public vote.
In March 2021, Russia announced plans to gradually update the designs of its bank notes and make them more secure.
All new Banknotes would feature a QR code:
The plan was expected to be completed in 2025.
In line with the former, the country launched a 100-ruble bank note (150.00 mm x 65.00 mm) in 2022, depicting, among others, the Kremlin’s Spasskaya Tower on the obverse.
Interestingly, the time on the chimes is 20:22 in allusion to the first year of circulation of these notes.
The QR code engraved on the obverse leads to a webpage of the Central Bank, containing information about the means of protection and the artistic elements of the Banknote.
Similarly, the initial designs of the new 1,000- and 5,000-ruble banknotes were unveiled in 2023.
While the 5,000-ruble Banknotes entered circulation, the release of the 1,000-ruble notes has been delayed due to the introduction of modifications in the original design. The notes were expected to enter circulation in 2025 with new bank notes of 10, 50, and 500 rubles, but the final designs are not yet known.
Reverse of a 25-Apsar Banknote printed for the National Bank of Abkhazia in 2023.
Through its 100%-owned company Goznak, Russia has even printed banknotes incorporating this technology for separatist regions that the country acknowledges as independent states (Abkhazia) or where it maintains military control (Transnistria).
Abkhazia issued 500-apsar notes in 2018, followed by issues in denominations of 25 Apsars (2023) and 50 Apsars (2025), while Transnistria issued 50-ruble notes in 2025, all of which incorporate QR codes.
The AuVerIn Codes/Signatures implemented on the Federal Republic of Germany (FROG):
Interestingly the Federal Republic of Germany has implemented the AuVerIn codes/signatures which goes a step further:
in Germany the AuVerIn Code does not use QR codes. Instead, they rely on an invisible, encrypted code called the AuVerIn-Code, which can be scanned with a smartphone camera and the AuVerIn app. This technology is designed specifically to avoid visible identifiers like QR codes, offering stronger protection against counterfeiting.QR-Codes in Bank Notes
What is the AuVerIn Code:
What is AuVerIn relief signature?
AuVerIn Signature is a modern anti-counterfeiting technology used on coins and collectibles. It combines a physical relief signature with an invisible digital code that can be scanned via smartphone, ensuring authentication, verification, and access to product information.
Definition: AuVerIn stands for Authentication, Verification, and Information.
Technology: It embeds an invisible code into the product surface, readable only through the AuVerIn app and a smartphone camera.
Purpose: Provides maximum protection against counterfeiting by combining physical and digital security features.
Application: Used especially in numismatics (coins), where authenticity is critical.
How It Works?
Relief Signature: A physical micro-relief engraved on the coin surface.
Invisible Code: Hidden within the coin design, not visible to the naked eye.
Smartphone Scan: Collectors scan the coin with the AuVerIn app to confirm authenticity.
Digital Extension: Links the physical coin to secure digital information, bridging traditional collectibles with modern verification.
Key Benefits:
Counterfeit Protection: Harder to replicate than traditional mint marks or holograms.
Collector Confidence: Provides verifiable proof of authenticity.
Digital Integration: Offers additional product information (e.g., history, specifications) via the app.
Government Adoption: The German Federal Ministry of Finance has adopted AuVerIn for official coin issues.
Risks & Considerations:
App Dependency: Requires smartphone and AuVerIn app access
Technology Adoption: Still relatively new, so not all mints or collectors are familiar with it.
Long-Term Support: Effectiveness depends on continued support and updates to the AuVerIn system.
What is in store in the future?
Slowly but steadily, more countries seem to rely on the integration of QR-code technology in their bank notes. New technological developments would possibly lead to a widespread incorporation of QR codes both in visible and invisible formats in Banknotes and even the universalisation of other digital moneys like the cryptonotes, hybrid bank notes that bear public and private keys to access a cryptocurrency account so as to raise the bar for counterfeiters.
Rajan Trikha has commented:
ReplyDelete"Very informative and interesting post."
Thank you so much, Trikha sahab.
DeleteSantosh Khanna has commented:
ReplyDelete"Thanks for sharing this informative post"
Thank you so much, Khanna sahab.
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