Bitcoin Global News (BGN)
May 04, 2018 -- ADVFN Crypto NewsWA software company in Switzerland
is now printing physical Bitcoin bills. They are the first
physical, tangible manifestation of a cryptocurrency. They are
definitely not the everyday paper bill. Tangem has extensive
experience with microelectronics that allow the bills to maintain
the security that cryptocurrencies use with. This is just the tip
of the iceberg for further applications of nanochips with embedded
flash memory.
Bitcoin
Bills
Each bill is essentially a
standalone bitcoin wallet. The wallet is what creates security. In
this way, not only is the security of the cryptographic passwords
intact, but “breaking into” one one bill’s wallet does not provide
access to any others.
Unlike using cryptocurrency online,
physical transactions are immediate, free, anonymous and there are
no fees. They are truly decentralized, meaning it will never be
restricted by technological limitations. - Cofounder Andrew
Pantyukhin
They will be available in similar
places to where ATMs would be located. They are available in
denominations of 0.05 and 0.01. With Bitcoin around the $10,000
mark, this is $500 and $1000 USD.
Potential
Other currency - This technology
can be applied to any country’s standard fiat currency for added
security benefits, or to materialize any other existing
cryptocurrency. Starting with Bitcoin had the benefit that it is
the most widely used cryptocurrency, but it also has no “owner.”
Profits many when individuals exchange for the smart bills will go
entirely to Tangem.
Identification - The technology of
cryptographic signatures could be added to government or privately
issued identification cards. It would provide an unhackable,
unreplicatable form of identity verification.
Other - loyalty cards, gift cards,
tickets - essentially any applications that require or could
benefit from digital proof of something physical, or the reverse as
in these Bitcoin Bills - physical proof of digital
assets.
We are a new way of tying the
physical and digital together, which has never been done before.
Inherently we treat digital as easily copyable and this technology
guarantees it cannot be copied. That again has never been possible
or practical before. - Cofounder Andrew Pantyukhin
By: BGN Editorial Staff