A Singaporean startup developing ‘smart banknotes’ for cryptocurrencies has launched sales of physical bitcoin banknotes with a pilot in a major Singaporean mall.
The ‘banknotes’ will carry their value in bitcoin on a chip inside each note and are available in denominations of 0.01 BTC ($98) and 0.05 BTC ($485) at launch.
Image credit: Medium/Hackermoon
Each banknote costs the company $2 to manufacture. The co-founder says the company is ‘making millions of units now’ in a bid to facilitate crypto transactions that are “immediate, free and anonymous”. Physically hand over the whole wallet together with the blockchain private key. No transaction fees, no need to await confirmation blockchain.
