Singapore’s Bitcoin Smart Banknotes Live, First Batch of 100,000 Copies
According to news.bitcoin.com reported today, a digital asset smart banknote maker in Singapore introduced a face value of 0.01BTC and 0.05BTC bitcoin smart banknotes, designed to make the circulation of cryptocurrencies like Banknotes are as convenient. The first smart banknote limit is 100,000 copies.
Digital asset banknote maker Tangem announced on Thursday that it will launch Bitcoin smart banknotes at Singapore’s Megafash Suntec City store.
Tangem wrote in the statement:
We will provide Bitcoin smart banknotes with 0.01BTC and 0.05BTC denominations. This measure will fundamentally improve and simplify the status quo of inconvenient access to cryptocurrencies and difficult circulation.
Tangem is headquartered in Switzerland’s “Crypto Valley” Zug and Hong Kong, China. According to its website, Tangem also has offices in Singapore, Moscow and mainland China.
The company said it is delivering the first batch of 100,000 Bitcoin smart banknotes to potential partners and distributors around the world.
Tangem also said that their Bitcoin smart banknotes are like a protected banknote and are easy to carry. Additional equipment is not required, you need only an NFC-enabled smartphone.
Tangem’s competitor, Opendime, offers a physical product with similar capabilities but looks more like a USB drive.
Tangem’s hardware is Samsung Semiconductor’s S3D350A chip. The company claims that it offers the first hardware storage solution on the market and that this electronic product complies with the EAL6+ and EMVCo security standards.
For such products, security and open source code are particularly important for gaining user trust. But as of now, the only company that Tangem discloses is its version of iOS and Android on Github.
However, Tangem said it has shared the complete source code of its proprietary chip firmware with a Swiss security company Kudelski Group, and they have completed an in-depth review of their product architecture and a comprehensive audit of security.