Crypto-cash. Startup Tangem will release "smart" crypto banknotes

The rapid growth in the popularity of cryptocurrencies makes even people initially far from the topic to pay attention to them. But to understand the diversity of bitcoin and the technologies associated with them, ordinary person is difficult. Therefore, the startup tangem decided to make the technology mass and accessible by releasing "smart" crypto-banknotes.

Andrey Pantyukhin, one of the founders of the company, explained that the purpose of the startup is to release the physical embodiment of Bitcoins, which can be touched. Each note will contain a special chip that contains crypto-currencies and other digital assets. The idea is that, having such "banknotes" on hand, people will be able to make cryptocurrency transactions by simply transferring bills to each other, while maintaining anonymity. And, unlike online transactions, the process will take place immediately.

Pantjuhin told the publication Hackermoon that, on the idea of a startup, to obtain banknotes in a special ATMs, shops and chain stores — everything is exactly the same as with ordinary money.

The work on the bills began in 2014 when the company, with the support of chip makers, have access to the latest technologies.

Crypto-banknotes are easy to use. All you need to do before you start using is to start a wallet and read the basics of its use, but otherwise the use of such banknotes will not differ from simple cash. Hack banknote will be quite difficult, and if it can be done, the cost of effort will significantly exceed the original cost of the banknote, besides access to other assets of the owner of the attacker through it will not receive.

Now the cost of production of one banknote is around two dollars, but with the increase in turnover of cryptogenes the developers plan to reduce the cost of production to the price of ordinary paper money. Now it's small to make crypto — banknotes public, and this will require the support of distributors and establish commercial ties with the right people, which will allow millions of people to access the physical embodiment of Bitcoin.