That's quite another revolution in the crypto world; i would just about love to have some BTC bills in my literal wallet, probably pay my tithes with it. Its a welcome innovation for me.
Haha! Coming to you soon!
awesome that bitcoin has now its physical image this will be the beginning of a mass adoption of bitcoin and cryptocurrency.
We hope so. People are visual, physical creatures and Bitcoin sorely needs better, human-friendly interfaces to use it.
Is this a good breakthrough for bitcoin? I myself do not really understand whether this is really necessary for bitcoin at this time. Because this seems to be useless if bitcoin users are still not too many and still many people who do not know about the bitcoin itself.
About two billion people have heard about Bitcoin by now, but it's too cumbersome for most of them to try. The earliest holders of Tangem Notes in Singapore were predominantly first time users — and they are spreading the knowledge by showing the physical Bitcoin to everyone they meet and explaining as much as they can.
While it is difficult to imagine how these banknotes will go as a means of payment, but how they can be used as bonds. The organization that issued them should guarantee their redemption at par value in the case of presentation for payment.
Fortunately Tangem as a business does not have to guarantee anything — the Bitcoin value is physically on the smart banknotes, inside a highly secure chip, and can only be accessed by the current holder.
It would definitely be possible to use Bitcoin "banknotes" in this way, as bonds, but personally, I don't see a lot of purpose in that, especially when you can just keep your bitcoins on the blockchain while the keys to your coins in some safe place outside it. Really, what if this device fails or malfunctions due to natural wear and tear (or because of some other reason), what are going to do with it then, throw it away? Bonds as they are bring you interest, but what kind of interest these devices are going to give you? There's none, so they are pretty useless in this field of application. Apart from that, you don't need redemption as you can "redeem" the bitcoins in this device yourself.
These thingies are basically a hardware wallet (like Opendime sticks).
I think right now Tangem notes are the safest way to hold Bitcoin in the world. If you keep it physically secure, it should work for centuries (40 years certified), but more importantly the private key does not have a copy. With almost any other way there's always a risk someone would have a copy and you could lose everything.
While Opendime is closest to Tangem in principle, it follows a different security model and is less friendly to the mass consumer, we believe. Nonetheless, we are big fans of their work :-)
