UK to scrap banknotes: replace them all with 'plastic' banknotes

According to foreign media reports, the Bank of England, the central bank of the United Kingdom, said that it will eliminate all paper currency notes in circulation next year and replace them with "plastic" banknotes made of polymer materials
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The United Kingdom began to use paper money in 1695, and it has a history of more than 300 years
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The British pound is the national currency of the United Kingdom.
The banknotes in circulation are 5, 10, 20 and 50 pounds, as well as 1, 2, 5, 10, 20, 50 new pence and 1 pound and 2 pound coins
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But starting in 2015, older paper money is being replaced by polymer banknotes
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Of these, the £5 note was the first to be phased out, while the £50 note began to be replaced by polymer notes in June this year
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So far, there are only £20 and £50 banknotes in circulation in the UK
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However, according to the Bank of England, this will be the last Christmas when Britons will finally be able to use paper money
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A few days ago, the Bank of England said in a statement: "Presumably everyone is preparing for Christmas, and I hope everyone can spend their banknotes before September 30, 2022, because the banknotes will not be able to continue to circulate after that.
Only newer versions of polymer banknotes can be used
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Polymer banknotes are safer and more durable than paper banknotes, according to Mark Carney, a former central banker who pushed for paper money reform
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Compared with paper banknotes, polymer banknotes are more difficult to counterfeit and will last more than twice as long as paper banknotes
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