The rapid growth in popularity of cryptocurrencies makes even initially far from the topic people to pay attention to them. But to understand the diversity of bitcoin and the technologies associated with them, ordinary person is difficult. Tangem’s why the startup decided to make the technology affordable by releasing “smart” cryptomancer.
Andrew Pantyukhin, one of the founders of the company, explained that the purpose of the startup is to produce a physical incarnation of Bitcoins, which can be touched. Each note will contain a special chip that contains crypto-currencies and other digital assets. The idea is that, given these “banknotes”, people will be able to make cryptocurrency transaction simply passing notes to each other in anonymity. And yet, unlike the online transactions, the process will take place instantly.
Pantjuhin told the publication Hackermoon that, on the idea of a startup, to obtain banknotes in a special ATMs, shops and chain stores — everything is exactly the same as with ordinary money.
The work on the bills began in 2014 when the company, with the support of chip makers, have access to the latest technologies.
Cryptomancer easy to use. All you need to do before using is to start the wallet and read the basics of its use, but otherwise the use of such notes will not differ from the simple cash. Hack bill will be difficult, and if this can be done, the cost of the effort will significantly exceed the original value of the banknote, to the same access to other assets of the owner of an attacker using it do not get.
Now the cost of production of one banknote is around two dollars, but with the increase in turnover of cryptogenes the developers plan to reduce the cost of production to the price of ordinary paper money. Now the case for small — to do cryptomancer public, and this will need to enlist the support of distributors and to establish commercial relationships with the right people, which will allow millions of people to access the physical incarnation of Bitcoins.
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Startup Tangem will release a “smart” cryptomancer
Vyacheslav Larionov