Singapore’s Digital Asset Smart Banknote Producers to Launch Bitcoin Banknotes

The digital asset smart banknote producers have released bitcoin banknotes at a store in Singapore. Presently, the currency notes are available in denominations of 0.01 and 0.05 BTC.

According to cryptovalley Zug’s website, the headquarters in Switzerland’s cryptovalley Zug and Hong Kong, Tangem is having offices in Singapore, Moscow, and China. The plan is to make own and circulate cryptocurrencies as popular as paper money.

On Thursday, Tangem, Digital asset banknote manufacturer released smart bitcoin banknotes at Megafash Suntec City Store in Singapore.

The firm says it “is delivering the first shipment of 10,000 production notes to prospective partners and distributors around the world for commercial pilots.”

The announcement is as follows:-

Available immediately in denominations of 0.01 and 0.05 BTC, Tangem Notes radically improve the simplicity and security of acquiring, owning, and circulating cryptocurrencies for both sophisticated and incoming users.

Tangem’s cryptocurrency space

Tangem’s is an impacted firmware based product in the cryptocurrency space. The security audits and open-source code are cardinal to earnings user’s trust to safeguard the firm. The company doesn’t have access to the funds reserved for their product. Tangem has a public code is for iOS and Android apps on Github.

Withal, the firm proclaims that it is sharing the full source code of its proprietary chip firmware. The company is associated with a Swiss security firm. Kudelsi Group accumulates that the firm is completed an in-depth review and has exhaustive security audit of its product’s structure.

How did Tangem’s Smart Banknotes work?

Tangem embellishes that bitcoin smart banknotes are secured paper banknotes and feasible to hand over. The shape has more like a USB thumb drive without any currency printed on them.

As asserting to the utilization of the firm asserts there is No special infrastructure, no complicated applications – just touch the banknote with an NFC-capable smartphone to be 100% sure it has valid assets.

The competitor Opendime is offering the physical product with a similar purpose. Tangem’s hardware is hinged on a Samsung Semiconductor’s S3D350A chip. “The company proclaims to provide the first hardware storage solution on the market. Hardware has entire electronics and cryptography certified to the Common Criteria EAL6+ and EMVCo security standards.”

Woow!! It’s fantastic to the step taken by Singapore to circulate bitcoin currency notes. Share your reviews on twitter and telegram.

Image source:- Bitcoin 

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Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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