Tangem: Smart Bitcoin Banknote Hardware Storage Cards?
Ever since cryptocurrencies have emerged to the financial landscape, one of the major issues the market has been dealing with is how these digital assets can become an actual thing, more specifically, how can cryptocurrencies be used.
It definitely results in a very complicated fact for users to deal with these assets in a completely digital form, even more, when we are typically used to treat transactions physically. Luckily, this is something that now has a solution.
What Is Tangem?
Tangem is the first banknote for digital assets existing in the world. This project promises to resolve the issue of “physicality” of cryptocurrencies, an at the same time, offering the most secure and guaranteed space for users to trade physically their digital assets.
The banknotes of Tangem allow cash transactions between cryptocurrency users, it functions the same way as a regular bill but with the distinction of not being centralized, having guaranteed anonymity, and transactions 100% free of charges.
Like this, users can make crypto-related transactions using Tangem banknotes that will be integrated with a chip carrying the digital asset, being able to exchange the whole wallet by using the blockchain private key or just a part of it.
Also, the decentralized nature of the Tangem banknotes gives a warranty of no restrictions, which means technology won't put limits of any kind while transacting.
Tangem Bitcoin Banknote Hardware Storage Cards
Making digital assets physical is definitely a challenge, and the main concern is the security. In this matter, Tangem has managed to create a completely safe banknote with the integration of storage hardware that uses high-grade EAL6+ protection, which means any cryptocurrency is completely covered. Additionally, it uses irretrievable private keys that make impossible to replicate both wallet or the assets contained in it.
Furthermore, Tangem manages a Tamper-proof system on each and every one of its cards, and this is updated with all of the hardware and software attacks registered on cryptocurrency exchanges around the world to the date.
Practicality Of The Tangem Cards
Tangem cards or banknotes are designed to be easy and practical in the use, this means users don’t need to access to the blockchain or any exchange platform in order to make a transaction with cryptocurrencies. Like this, they just need to touch the card with a smartphone that possesses Near Field Communication (NFC) and that would be enough to make 100% sure that the card is enabled with digital assets.
It is expected that the first million cards of Tangem start circulating in the market by the end of the third quarter of this year, converting like this Tangem banknotes in the first hardware project massively produced for carrying cryptocurrencies.
The Team Behind Tangem
The project counts with one of the most multidisciplinary teams in the industry. If you want know more about them click here.
Although the very nature of cryptocurrencies is to be digital assets, a project like this can definitely be positive for the whole crypto industry. It actually facilitates exchange transactions between users, and at the same time opens a door for a massive adoption of cryptocurrencies by the world community.