An innovation must contribute to something useful, such as increasing productivity, reducing costs, improving our health, protecting the environment, or using fewer fossil fuels. We also must realize that a successful innovation in one country, industry, or company does not automatically translate into success when applied in another country, industry, or company. Different circumstances will produce different results, one of which can be failure.
Recent data show that about 64.7 percent of world currency reserves are held in US dollars and 25.8 percent in euro. As regards the private use of the euro as a parallel currency, the stock of banknotes shipped by banks to destinations outside the euro area has continued to increase gradually.