One of the biggest claims and arguments that people say prevent bitcoin from ever being mainstream is the requirement for a physical version of the currency. Many have long since believed that because bitcoin is entirely digital, it will never see a widespread adoption.
Tangem Notes are highly secure smart cards carrying cryptocurrencies on a recently developed EAL6+ SecurCore microchip. Once loaded, they can be used as cash — handed over to other people for physical transactions or for extremely secure cold storage of digital assets.
This flaw in its design, has just changed drastically. A new smart banknote platform known as Tangem, has just launched its first pilot of physical bitcoin notes at the Megafash Suntec City store in Singapore.
The initial launch has notes in the denominations of 0.01 BTC and 0.05 BTC.
This change, can drastically change the future of bitcoin and make it even more widespread in its adoption by reaching parts of the world that have no access to internet and computers, as well as making it easier for the masses to use without having to understand the underlying blockchain technology.
The technology of the physical bitcoins is based on the new Samsung Semiconductor S3D350A chip which is the first hardware storage solution on the market with its electronics and the cryptography certified standards EAL6+ and EMVCo build directly into the physical money.
Singapore is only the first stop in Tangem delivering the first shipment of 10,000 production notes distributors around the world for commercial pilots.
The physical bitcoins are not actually paper money but operate more like a cross between physical money and a prepaid credit card.
They can be handed from one person to another in the way traditional currency can which is effectively like giving someone the entire contents of a physical wallet by handing them they keys.
They can also be scanned with an application to empty some or all of the contents of the money, and it can be reloaded again.
If the pilot goes well, it may be possible in the future we see more amounts created, even down to a single satoshi unit, which is the smallest unit of bitcoin.
This is a complete game changer in terms of usage of bitcoin as it means one can spend bitcoin in a physical means without having to spend the entire amount, without having to convert to fiat currency, and without having to worry about how change will be returned.
Currently one can purchase the tangem dev kit for $349.00 USD which includes:
- 10 x Tangem Notes, unloaded, including:
- 5 x 0.01 BTC graphics, unloaded
- 5 x 0.05 BTC graphics, unloaded
- Special developer features
- Fully unlocked and reusable
- Load and spend any amounts
- Priority access to Tangem engineers