Memory of Currency


2018-2023 (ongoing)
Pearl shells, 4K videos, inkjet prints
Production support: Seimei Tanaka, Takahiro Ishido / Yukino Kowaki / Keigo Yanagida (Hirota Site Museum), Space Art Tanegashima2020



In this series of works, INOMATA implants into pearl oysters tiny 3D portraits of people who appear on bank notes around the world, such as Queen Elizabeth II, George Washington, Mao Zedong, Karl Marx and Yukichi Fukuzawa. The oyster then uses this template to create mother-of-pearl versions of the portraits. The accompanying video shows the oyster shells sinking into the ocean. We can imagine them becoming “fossil currencies”, provoking reflections on the economic system in which we live.


Artist AKI INOMATA began producing her Memory of Currency series in 2018. This interdiscplinary project engages with fields such as anthropology and biology in an attempt to create what she describes as “fossils of currencies.” INOMATA’s practice explores different means of producing art through unpredictable collaboborations between humans and other animals. For this project, a type of pearl oyster joins the creative process as her significant other (in the sense used by Donna Haraway).
The artist creates small 3D portraits of human figures, then implants them into the oysters, which cover these templates with layers of pearl. Using this sort of biological transformation process, INOMATA creates pearls with human faces. Each face is a familiar historical figure—Karl Marx, Elizabeth II, George Washington, Mao Zedong, Yukichi Fukuzawa—chosen from the designs of coins and other forms of currency from around the world. Queen Elizabeth featured on the currency of the UK, which once had the largest colonial empire in history, so watching a video of her pearl face sinking to the ocean floor has implications from a post-colonial perspective. In addition to representing the demise of the framework of nation states, this video can be cynically interpreted as portraying the legacy of colonial empires disappearing to become part of the detritus on the sea bed.
From the perspective of the author’s research, INOMATA’s Memory of Currency is a fascinating project because it provides observations that are full of hints for contemplating the nation state at a deeper level. Benedict Anderson described the nation state as an “imagined community,” and the notion that a state is mediated by the imagination of its members is now accepted as general knowledge. Some of the clearest manifestations of the fiction embodied in the concept of nation state can be found in phenomena derived from money and currencies.
Interestingly, one of the events that initially inspired INOMATA to begin this project was the banking crisis in Europe trigged by developments in Cyprus in 2013. An international deal by Eurozone countries to bail out the Republic of Cyprus inposed a one-time tax on deposits in Cypriot banks, leading to mass protests by local people and by depositors, who rushed to withdraw money from banks and ATMs.
Money is essentially a system requiring trust in credit. Most contemporary currencies are based on the credit worthiness of the issuing state, with coins and banknotes often bearing images of august personages who symbolize that state. And if the state loses its credit worthiness, faith in its currency evaporates, resulting in scenes like those seen in Cyprus. Today, it is fair to say that the nation state is increasingly unable to function as the absolute framework that it once represented. Moreover, such dysfunction is occurring worldwide, rather than being a phenomenon that only affects certain regions.
It is increasingly clear that multinational companies having transnational organizations and global operations are becoming comprehensive frameworks that replace the nation state. The emergence of currencies backed by corporate credit rather than by a state is still a very recent memory. Nevertheless, the use of e-money has already become a familiar part of everyday life through purchases at convenience stores and other shops. The story of how many Cypriots used virtual currencies to protect their assets during the banking crisis hints at how this transformation is progressing. The foundation of the credit upon which currencies are built is rapidly shifting to the backing of global-scale companies that transcend the boundaries of individual nation states. The main players in this field are supranational communities and digital networks.
As one of the elements in Memory of Currency, INOMATA produced videos featuring shells that have formed pearl portraits of some of the individuals used to represent modern currencies, picturing the shells sinking to the sea bed. The way that these fossils of currencies slowly sink seems to hint at the dusk of the nation state concept as a framework for interpreting our world. Daisuke Takekawa gives a detailed exposition of the use of shells as money in his 2007 paper “Primitive money as a representation of externalized memories,” in which he describes shell money as one of the primitive forms of money that functioned as a means of externalizing the memories of a community before the modern period. INOMATA’s project transcends categorization into natural objects and manufactured objects, fusing currencies of the past and the present.
Consequently, as INOMATA herself points out, this work has the potential to become a fossil rediscovered by future people. Perhaps such a discovery will be made not by humans, but by some other existence. Moreover, the author sees even further potential in this project, rooted in speculation and the predictive nature of currencies. Historian E.H. Carr described history as “an unending dialog between the past and present,” with the future emerging from that dialog. AKI INOMATA’s Memory of Currency emerges from such a dialog concerning money. It stimulates the imagination, inducing contemporary viewers to think about the future of currency. Its rediscovery as a fossil is likely to occur far into the future.
(Text: Hiroki Yamamoto)



  • Memory of currency
  • Memory of currency
  • Memory of currencyCourtecy of Seimei Tanaka, Takahiro Ishido・Yukino Kowaki・Keigo Yanagida (Hirota Site Museum), Kishin Himori・Asuka Taniyama・Hirohiro Koyamada (Space Art Tanegashima)
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
  • Installation view of Solo Exhibition “Memory of Currency”Photo: Hayato Wakabayashi
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