Tags: Brexit | Financial Markets | Money | david bowie | london | england | fiat

Here's Your Ch-Ch-Ch-Change: David Bowie Now Adorns Local British Currency

a mural of singer david bowie by artist jimmy c in brixton, south london.
A mural of singer David Bowie by artist Jimmy C in Brixton, south London, his birthplace. (Matt Dunham/AP)

By    |   Sunday, 20 January 2019 03:44 PM

What Queen? Rock icon David Bowie is the face of Brixton's 10-pound bill.

The "Changes" singer's face has replaced that of Queen Elizabeth on local currency in a rapidly gentrifying London neighborhood — one of several experimenting with local currencies, The Wall Street Journal reported.

"It's money that sticks to the area," Madeleine Boomgaarden, who manages the project in Brixton, told the Journal.

The bill with "Space Oddity" Bowie's face represents 10 Brixton pounds, but has sold for as much as 50 pounds online, Boomgaarden added.

The bills in Brixton are produced by a specialized printer with diamond-embossed security paper and gold foil numbering.

"Brexit shows how exposed national currencies are," Boomgaarden told the Journal. "So, if sterling falls through the floor in March, Bowie notes might be what everyone's after."

According to the Journal, the local currency is a cousin to cryptocurrencies, which aim to replace fiat money with a decentralized payment system independent of traditional banks.

But the Bank of England has flagged concerns local money can undermine confidence in official bank notes, particularly when efforts fail, the Journal reported.

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The late singer David Bowie's face has replaced that of Queen Elizabeth on local currency in a rapidly gentrifying London neighborhood of Brixton, the star's birthplace, The Wall Street Journal reported.
david bowie, london, england, fiat, currency
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2019-44-20
Sunday, 20 January 2019 03:44 PM
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