Tangem Launches Bitcoin Smart Banknotes
Tangem, a new smart banknote platform, is now selling physical Bitcoin notes in Singapore at the Megafash Suntec City store.
It is the first physical form of digital assets. The notes come with a special chip installed in them which allows the users to hold with them, cryptocurrencies and other digital assets.
The notes come in denominations of 0.01 and 0.05 BTC and simple to use. The process of acquiring, owning, and circulating cryptocurrencies is a lot safer now as well.
Tangem Notes are based on Samsung Semiconductor’s S3D350A chips which were recently developed to become the first hardware storage solution wherein everything was certified to the Common Criteria EAL6+ and EMVCo security standards.
Vijay Sondhi joined Tangem as the Senior Strategic Advisor for guiding the platform into new verticals and markets. He has worked for five years as the Senior Vice President and the Head of Innovation at VISA and has quite a unique executive network.
Tangem has gotten its security architecture reviewed in depth by the Kudelski Group which is led by Jean-Philippe Aumasson. Kudelski would now be performing a comprehensive security audit on the complete source code of the proprietary chip firmware used in the notes.
Singapore is setting the lead for a whole new system wherein cryptocurrencies work alongside traditional currencies. Tangem would be delivering its first shipment of 10,000 production notes to its various prospective partners and distributors all over the world.
The company operates out of Singapore and Switzerland with all of the manufacturing done in South Korea and Southern China. For R&D, the company has turned to Taiwan, Israel, and Russia. To encourage mass adoption of the Blockchain technology and the technologies supplementing it, Tangem has developed a hardware-software platform.