Fed launches banknote app for children

The Federal Reserve has turned to mobile phones to educate the younger members of the country’s population about the national currency.

A new interactive smartphone and tablet app designed for children has been launched by the central bank, to provide easily understandable information about the security and design features of the current dollar series.

The app, Money Adventure, is the Federal Reserve board’s first foray into public apps. It is currently only available for the iPhone and iPad, with the rollout for Android expected later this year.

Unlike most banknote apps, the Fed’s is geared towards children and makes use of games to provide information about both the banknotes and the historical events depicted on them.

At the moment, the app only includes the $20 note, featuring former President Andrew Jackson. Children have options to test the note through both touch and tilting the phone. Replicating embossed ink on the note, the app software vibrates the screen of the phone when brushed.

The app is another element of the central bank’s Currency Education programme, which provides training and information about dollar banknotes.

The Fed board manages the programme but works closely with the country’s secret service and Department of the Treasury’s Bureau of Engraving and Printing.

Utilising technology

A number of central banks around the world have turned to mobile applications when conducting public outreach about currency management.

One of the first central banks to enlist the technology was the Czech National Bank. The app featured detailed pictures and descriptions of all valid versions of the Czech banknotes and coins.

This allowed users to compare the cash in their hand with specimens of what it should look like, including what the notes should look like when back-lit and when viewed under ultraviolet light.

More recently, the Hong Kong Monetary Authority launched two apps – the first is an educational tool, providing information on the intricacies of the security features and the design of the note; the second allows people with visual impairments to interact with physical banknotes using the phone’s camera.