Sunday, May 6, 2018

What's in your wallet? Blockchain tech company to roll out physical Bitcoin banknotes you can carry and use

In a much more novel way to help integrate cryptocurrencies into the mainstream of society, a blockchain based tech company has announced on May 3 that they are in the process of rolling out new physical banknotes that will have a chip inside that will connect directly to your bitcoin wallet.

The purpose of these banknotes is to try to engender the public into recognizing Bitcoin as a viable currency and to help promote Bitcoin's use in everyday commerce.

Tangem, a start-up operating from Switzerland and Singapore, has launched a pilot sale of physical notes of Bitcoin (BTC), according to a press release published May 3. 
Tangem Notes, described in the press release as “smart banknotes” with a chip developed by Samsung Semiconductor, reportedly allow consumers to physically carry Bitcoin stored in denominations of 0.01 (about $96) and 0.05 BTC (about $482). The first pilot batch, consisting of 10,000 notes, will be shipped from Singapore to potential partners and distributors around the world. 
According to the press release, the idea behind creating physical notes of Bitcoin was in part to increase the ease of spending crypto, “improv[ing] the simplicity and security of acquiring, owning, and circulating cryptocurrencies.” – Coin Telegraph


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