Bitcoin Goes Physical: Swiss Start-Up Launches Pilot Sale Of BTC "Banknotes"

Content adapted from this Zerohedge.com article : Source

Is this a step towards mainstream adoption of cryptocurrency?

We now have the first "physical bitcoins". A pilot program is in place to see if the mainstream populations adopt it more than they did before.

Authored by Ana Alexandre via CoinTelegraph.com,

Tangem, a start-up operating from Switzerland and Singapore, has launched a pilot sale of physical notes of Bitcoin (BTC), according to a press release published May 3.

image courtesy of CoinTelegraph

Tangem Notes, described in the press release as "smart banknotes" with a chip developed by Samsung Semiconductor, reportedly allow consumers to physically carry Bitcoin stored in denominations of 0.01 (about $96) and 0.05 BTC (about $482). The first pilot batch, consisting of 10,000 notes, will be shipped from Singapore to potential partners and distributors around the world.

According to the press release, the idea behind creating physical notes of Bitcoin was in part to increase the ease of spending crypto , "improv[ing] the simplicity and security of acquiring, owning, and circulating cryptocurrencies."

Singapore has developed a reputation as a hub for cryptocurrency and blockchain development in Asia. Recently, The Singapore Fintech Association and the Fintech Association of Japan signed a Memorandum of Understanding to collaborate on fintech development. Additionally, China and Singapore completed a shipment of gasoline entirely using blockchain technology in early April. In March of this year, Singapore's central bank reaffirmed its commitment to using blockchain for cross-border payments.

Non-adapted content found at zerohedge.com: Source

---

Disclaimer : Account @zer0hedge is not affiliated with ZeroHedge.com.

I read ZeroHedge multiple times a day to find the best articles and reformat them for Steemit. I appreciate the upvotes but consider following the account and resteeming the articles that you think deserve attention instead. Thank you!

Head over to ZeroHedge.com for a more complete news coverage about what affect the economy, geopolitics & cryptocurrencies.