Editor's Picks News

In Switzerland, physical blockchain banknotes will be manufactured for the Marshall Islands cryptocurrency

Traditionally, it is assumed that, due to its nature, a cryptocurrency is a purely virtual asset, however, Tangem, headquartered in Switzerland, will soon refute this stereotype by issuing physical banknotes for cryptocurrency.

Startup Tangem won a tender for creating a microprocessor banknote on a blockchain for storing the national digital currency of the Republic of Marshall Islands Sovereign (SOV). This altcoin will presumably be launched next year and will be in circulation on a par with US dollars, and thanks to the physical banknote this will become possible even without an Internet connection.

“Thanks to instant transaction verification, zero commissions and no Internet connection requirements, Tangem banknotes for end-users will provide physical SOV circulation outside the blockchain among all SOV holders and will not impose a technical infrastructure burden on RMI (Marshall Islands Republic – Ed.)” – stated in a press release Tangem.

The Swiss company Tangem is a manufacturer of cards associated with cryptographs. The company produces smart cards and smart notes with cryptography. They can be spent just like cash, without transaction fees for payments between wallets. In January of this year, it became known that the Japanese financial giant SBI would invest $ 15 million in investment in Tangem.


Related posts

Companies in South Korea hold more than 10 Billion Won in cryptocurrencies

Guest Author

Start-up Funds: Ripple Enters The South Korean Blockchain Market In Style


Cristiano Ronaldo Partners with Binance Crypto Exchange in a Bid to Promote NFTs

Joseph Alalade