The Singapore company Tangem released bitcoin-bills, which the developers themselves call "smart banknotes." However, they are not made of paper - in fact it is hardware cold wallets with integrated chip S3D350A from Samsung, reports Finance Magnates.
At the same time, the novelty has common features with traditional banknotes. So, each bitcoin-bill represents a certain fixed denomination in BTC and can be transferred physically for payment. Tangem called them "uncopiable cold wallet".
Tangem Bitcoin Banknotes
According to the company's representatives, the technology used in banknotes is completely protected from external interference and takes into account "all known attack vectors on hardware and software levels." In addition, it is noted that the years of development of chips for credit and SIM-cards, as well as identity cards led to the creation of a sufficiently safe product, so that the cost of hacking one note was economically unprofitable.
Another advantage of banknotes before online transactions is the developers call the instant payment and the absence of commissions. However, they also adopted all the shortcomings of other physical media, including the potential risk of theft and limited transmission range.
As stated in the press release of Tangem, currently available for purchase are banknotes with a face value of 0.01 and 0.05 BTC - about $ 96 and $ 480 at the time of publication.