Bitcoin Goes Physical – Swiss Startup Launches Bitcoin Banknotes

tangem-Bitcoin-Goes-Physical---Swiss-Startup-Launches-bitcoin-banknotes

A startup company by the name of Tangem, operating out of Switzerland and Singapore, launched a pilot sell of physical Bitcoin banknotes according to the press release on May 3.

Tangem describes these physical Bitcoins as “smart banknotes”. They include chips developed by Samsung which would allow the consumers to physically carry Bitcoin stored in denominations of around 0.01 BTC (around $100) to 0.05 BTC (around $500). The first batch will be shipped from Singapore to potential partners and distributors around the world.

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The idea behind the physical Bitcoin banknotes was stated to increase the ease of use of spending cryptocurrency while improving simplicity, security, owning, and circulating of cryptocurrency.

Singapore has recently developed a reputation as being a hub for both blockchain development and cryptocurrency in Asia. Singapore and China recently completed a shipment of gasoline utilizing blockchain technology throughout the entire shipping process in early April.

Singapore central bank also re-confirmed its commitment to utilize blockchain for its international payments.

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