Simplify the following text for a Grade 12 native English-speaking person.
Original: Polymer banknotes were developed by the Reserve Bank of Australia ( RBA ) , Commonwealth Scientific and Industrial Research Organisation ( CSIRO ) and The University of Melbourne and were first issued as currency in Australia in 1988 .
Simplified: Polymer banknotes were created by the Reserve Bank of Australia , CSIRO and the University of Melbourne and were first used as money in Australia in 1988 .