The Swiss company Tangem is testing the waters of this new technology.

Using a tiny chip and NFC technology, a Swiss company is issuing Bitcoin smart banknotes that could be passed from one person to another as easily as good old paper cash. Tangem is launching this new method of digital to physical monetary transactions, launching the cards at the Megafash Suntec City store in Singapore.

To confirm the value of BTC held on the card via the encrypted private keys, one only needs to scan the card with any NFC-enabled smartphone and the existence of funds is verified on the blockchain. Through the digital wizardry of the Bitcoin blockchain, cryptography, and Samsung semi-conductor technology, the card is protected from copying, counterfeiting, and double-spending.

For now, the card will be released in increments of 0.05 BTC and 0.1 BTC. In the future, it is likely more increments could be created that could make trading Bitcoin as easy as handing a card from one individual to another.

This has positive implications for ease of trade in cryptocurrency, particularly as it pertains to offline usage of Bitcoin.

Perhaps in the future, we will be handing each other smart BTC pennies, nickels, dimes and notes without the need for a central bank or governing power to control and manipulate funds. Maybe cryptocurrency will not look all that different from fiat (except the constant dwindling value, excessive debt problems, and government manipulation issues). The easier cryptocurrency is to use, the more its value and adoption will continue to grow. It is just a matter of time.

For an in-depth look at the details of this transaction solution, check out this article.

*This is not professional trading advice - it's just my opinion!

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Source:

https://www.newsbtc.com/2018/05/04/bitcoin-smart-banknote-launched-in-singapore-is-new-tool-for-mass-adoption/

https://hackernoon.com/these-smart-banknotes-could-bring-crypto-to-the-masses-4be57bcca1c7

Image source:

https://hackernoon.com/these-smart-banknotes-could-bring-crypto-to-the-masses-4be57bcca1c7