Tangem - Enable Bitcoin physical transaction without blockchain
Tangem
Enable Bitcoin physical transaction without blockchain
Screenshots
Hunter's comment
As the frontpage of Tangem site claims, it is the first smart banknote for digital assets which is Bitcoin to be precise in this case.
The Tangem is basically a hardware storage which its private keys is irretrievable so every Tangem is unique and under EAL6+ protection. Users can trade Tangem without worrying the banknotes being compromised.
I got one Tangem for the 0.01 BTC face value but it comes without Bitcoin loaded inside already. User have to transfer Bitcoin to the banknote via apps from Google Playstore or Apple Store.
The card is about the same length but narrower and slimmer compared to normal credit card size as you can see in the third screenshots. Definitely an ideal physical dimension for a banknote.
Tangem mobile apps is essential in verifying, loading and withdrawing the digital assets inside. The apps itself is not under early Beta stage but I have tested to scan my Tangem via NFC and it read the content without problem. I could literally load 0.01 BTC into it and maybe trade with someone else who would receive it.
Tangem offers a completely new ways to transact Bitcoin without some of the biggest drawbacks. All you need to do in a Bitcoin payment is just hand over the card, the process is validated immediately with zero fee while leaving no trace at all.
Bitcoin might be the biggest innovation of this century in digitalizing currency, but if we take a step back and try to use it in traditional way as if it was physical cash, interesting results can be expected and Tangem is absolutely one of them.
Disadvantage
When you make the digital asset physical again, you expect it possesses the disadvantages of physical cash as well. Whoever get access to the Tangem could withdraw the Bitcoin inside via the apps. And if you lose the banknote, the Bitcoin within is gone as well as you don't control the private keys.
Link
https://tangem.com/?ref=steemhunt
Contributors
Hunter: @fr3eze
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Great hunt @fr3eze! This hunt has been verified and approved by the Steemhunt Moderation Team. Great job! Happy hunting.
Absolutely appreciate it !
Interesting news my friend !
But , as you said, if you loose your card everything is gone...!
They must find a way to protect our coins...Like to block the card and take back the coins...! Thanks for sharing !!!
Don't think that's a good idea. As that would cause much problem to the transaction process and potential scam.
Really its Smart banknote for digital assets.
Gorgeous!!
Winderful idea I would say too.
Pros :
BUT
If losing card means losing everything, maybe i will not use it
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Great to see somebody keep improving those old physical Bitcoins. BTC needs these things more than any other coin due to the terrible fees and speed.