The intangible characteristic of bitcoin has been one of the biggest obstacles to its path to go mainstream. The lack of a physical version and being entirely digital, it has been believed by many that bitcoin won’t be able to achieve a widespread adoption.
But that may change soon. Tangem has made Bitcoin physical now by introducing a pilot project of 10,000 Bitcoin Banknotes that is being launched initially in Singapore.
So, Bitcoin is now tangible?!
Tagem, a new smart banknote platform is launching the Bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
These physical notes will be available in the denominations of 0.01 and 0.05 BTC. By utilizing the technology from Samsung “based on a recently developed S3D350A chip from Samsung Semiconductor, Tangem Note is the first… on the market with its entire electronics and cryptography certified to the Common Criteria EAL6+ and EMVCo security standards”, the notes are like banknote hardware wallets. Apparently, these are cost-effective and can be used like actual cash.
All in all, with the physical bitcoin notes, the Bitcoin's biggest flaw has been reduced to a great extent. These notes are not actually paper money but are somewhere between a prepaid credit card and physical money.
The whole article can be read on the Coingape page.
Do you think Bitcoin banknotes can replace cash in near future? Let us know your views in the comment section below!
Disclaimer: information provided by @cryptomedics does not constitute as investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the website's content as such. Do conduct your own due diligence and always do your own research before investing. If you like our content, show us some love, upvote, resteeem it and join our Telegram Discussion or the MainCryptoMedics Channel.