These Smart Banknotes Could Bring Crypto To The Masses

People love crypto because it’s a decentralised trust-less system that needs no middleman—it allows digital exchange of value using existing computing power. That’s great! But managing private keys and buying and selling crypto is complex; you need to open an account on an exchange, get a wallet, manage keys and passwords. In most countries you need to pass lengthly and complex Know Your Customer hurdles.

There’s just so much friction involved; a transaction takes a long time, uses a lot of energy and involves a lot of risk (bitcoin is very easy to lose). The sceptic or the average Joe just isn’t going to bother. Would not something tangible, accessible, easy to grasp and less of an illusion be so much easier? Like a physical crypto bank note? Why not allow the masses to skip this digital cash metaphor and revert to something simpler, almost reminiscent of China’s easily receivable Hong Bao (红包). Here I chat with Andrew Pantyukhin, Co-Founder at Tangem, who is changing this paradigm and bringing physical crypto to the masses.

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