Singapore represents bitcoin banknotes

Singapore represents bitcoin banknotes

An important news for cryptocurrency market came from Singapore. Bitcoin banknotes are issued recently.

They were issued by local company Tangem. The developers call them “smart banknotes”. They are not made of paper. In fact, these are hardware cold wallets with integrated chip S3D350A made by Samsung, according to Finance Magnates. At the same time the new innovative development has some common features with traditional banknotes. Thus, every bitcoin note has definite fixed nominal value in BTC. It can be transferred physically for payments. The representatives of Tangem call this solution a «copy-protected cold wallet».

According to words of Tangem team, technology used in banknotes, is totally protected from external interference. It takes into consideration all known attack vectors on hardware and software levels. Besides, it is noted, that “many years of chip development for credit, identity and SIM-cards led to creation of safe product”. Now the expenses to hack one banknote areeconomically unprofitable.

Another preference of these notes is absence of fee and quick payment. Nowadays the banknotes with nominal value 0,01 and 0,05 BTC are available for purchase.

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