Tangem Introduces Bitcoin Banknotes in Singapore

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Swiss-based startup Tangent has launched pilot sales of its new physical Bitcoin banknotes, according to a company press release published on May 3. The product will be made available at Singapore’s Megafash Suntec City store, with plans to deliver an initial supply of 10,000 notes to the company’s partners throughout the world.

Unlike traditional paper banknotes, the Tangem Notes are hardware units that house a Samsung S3D350A semiconductor chip that stores a specific value in Bitcoin. The company claims that the notes are tamper-proof, decentralized, and anonymous - and cannot be copied. A post on Medium detailed the benefits for consumers and merchants alike:

“Tangem banknotes allows brick–and–mortar transaction, users can conduct cash-like physical crypto transactions by just handing them over or receiving them. Unlike transacting cryptocurrency online, Tangem bank notes are anonymous and instant without any fees. Users can physically hand over the whole wallet together with the blockchain private key. They are truly decentralized, meaning it will never be restricted by technology limitations.”

According to Tangem’s press release, the notes will be available for purchase in two denominations: 0.01 and 0.05 Bitcoin, and will “radically improve the simplicity and security of acquiring, owning, and circulating cryptocurrencies for both sophisticated and incoming users.”

 

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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