Tangem, a digital asset smart banknote creator recently introduced bitcoin banknotes at a shop in Singapore. Tangem has its headquarters located in Zug, Switzerland. Its main purpose of creating the bitcoin banknotes is to make easier for consumers that own and deal with cryptocurrency. This will enable deals to be done successfully. The bitcoin banknotes are already available to the general public. At the moment, bitcoin banknotes presently have just two denominations at hand, those are 0.01 and 0.05.
Tangem has already announced that it would launch the bitcoin banknotes this past Thursday at the Megafash Suntec City store, located at Singapore. The announcement noted; Available immediately in denominations of 0.01 and 0.05 BTC, Tangem notes radically improve the simplicity and security of acquiring, owning, and circuiting cryptocurrencies for both sophisticated and incoming users. The firm also stated that it is delivering the first shipment of 10,000 production notes to prospective partners and distributors around the world for commercial pilots.
Tangem describes their new bitcoin banknotes as; Comparable to well-protected paper banknote and cheap enough to hand over. The company also added that; No special infrastructure, no complicated applications- just touch the banknote with an NFC-capable smartphone to be 100 percent sure it has valid assets. Tangem explains their how their smart banknotes work with ease. With the new smart banknotes, you can transfer notes with a click of a button and anonymously. Physically hand over the whole wallet together with the blockchain private key; No transaction fees, no need to await confirmation blockchain, Tangem claims. It also states that; Moreover, the company says that its banknotes are equipped with high-grade EAL6+ protection for all cryptocurrencies. Irretrievable private keys prohibit replication of wallet and its assets.
One of the Tangem’s rival company, Opendime, has a similar product to the smart banknotes but in the form of a USB flash drive and does not have any amount indicated on them.
Tangem’s hardware operates with Samsung Semiconductor’s S3D350A chip. The company insists that they will offer the first hardware storage solution on the market with its entire electronics and cryptography certified to the Common Criteria EAL6+ and EMVCo security standards.
These days users worry a lot of security audits and open-source code to the grantee that the firm does not have access to the funds stored on their product. At the moment, Tangem only has publicly available code for its Android and iOS applications on Github.