Tangem is launching Bitcoin notes in Singapore. These notes are, in fact, hardware storage units with an S3D350A chip manufactured by Samsung. Like banknotes, they can be transferred to another person or entity as a physical payment. These are self-contained wallets with their own private key.
Tangem is saying their Bitcoin notes come in denominations of 0.01 and 0.05 BTC.
It works like cash. Tangem said its notes can be used for physical transactions, just present the card. There is no fee. It can be validated instantly. You can remain anonymous.
According to the company, it is safe and reliable, guarded against hacking and replication and is capable of storing data for more than 20 years. Easy to use, there is no special software needed. Just touch the card with an NFC-capable phone to check if it is funded.
Bitcoin notes are blockchain-connected. Users can deposit and withdraw cryptocurrencies from the host blockchain where transactions are instantaneous, Tangem stated.
The Tangem cold wallet is impossible to replicate with its high-gradeEAL6+ protection for all cryptocurrencies. That, and a set of private keys secure the user’s funds, the firm announced. A million units will be produced and circulated in early 2018.
Tangem is headquartered in Zug and has offices in Hong Kong and Singapore. Its research and development centres are in Taiwan, Russia, and Israel. Manufacturing takes place in South Korea and China.