Bitcoin paper is here! Tangem Smart Banknotes was recently launched in Singapore and I am very excited about this.
For one, it means that people who are not exposed to cryptocurrencies simply because there is no physical component backing the value such as cash will gently be won-over to decentralized currency.
To use, one has to just hand over his Bitcoin banknote to the second party and just like fiat, value exchanges hands.
Tangem claims that with an NFC enabled device, one can transfer ownership of these notes instantly and anonymously. To do this: “Physically hand over the whole wallet together with the blockchain private key. No transaction fees, no need to await confirmation blockchain.” Moreover, the company says that its banknotes are equipped with “high-grade EAL6+ protection for all cryptocurrencies. Irretrievable private keys prohibit replication of wallet and its assets.”
Would this solution work alongside existing regulatory frameworks in your locality?