Physical Bitcoin Banknotes Launched

A Singaporean startup developing ‘smart banknotes’ for cryptocurrencies has launched sales of physical bitcoin banknotes with a pilot in a major Singaporean mall. Describing itself as a ‘smart banknote platform’ that manufactures physical notes with denominated values of cryptocurrencies like bitcoin, Singaporean firm Tangem has debuted ‘Tangem Note(s)’ in a pilot launch at the Suntech City shopping center in the city-state today.

The ‘banknotes’ will carry their value in bitcoin on a chip inside each note and are available in denominations of 0.01 BTC ($98) and 0.05 BTC ($485) at launch.

The hardware inside each banknote – it isn’t made of paper – is a Samsung Semiconductor S3D350A chip which, according to Tangem co-founder Andrew Pantyukhin says, ‘addresses all known attack vectors on hardware and software levels” on a Medium post. The accompanying cold wallet is “uncopiable”, Tangem says, while its co-founder insists the hacking of a single banknote would prove ‘uneconomical’ and would only be restricted to a single banknote even in the event of a hack.

Reference: https://www.ccn.com/physical-bitcoin-banknotes-launched-in-singapore-to-drive-adoption-2/

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