The first bitcoin banknotes have appeared

in ico •  6 months ago


In Singapore the local company Tangem released the first bitcoin banknotes according to the creators – it's "smart banknotes". Of course, the invention is not made of paper, in fact – it's hardware cool wallets with integrated S3D350A chip from Samsung.

Bitcoin banknotes are related to our usual traditional money that each of them has its own value in BTC and can be transferred physically for payment.

In Tangem development is also referred to as"non-copied cold wallet." Of course, when creating a product developers had to think carefully how to protect their offspring from hacker and other attacks. According to the company's experts: "years of development of chips for credit and SIM cards, as well as identity cards have led to the creation of a completely safe product so that the cost of breaking one banknote was economically unprofitable." Thus, Tangem claims that "all known attack vectors at the hardware and software levels were taken into account."

However, there is a question that still needs to be refined: like any Fiat funds, bitcoin bills can be stolen physically. And also at the moment there is a limit on the transmission distance.
These disadvantages developers oppose: instant payment and no commissions.

Now banknotes in denominations of 0.01 and 0.05 BTC are available for purchase.

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