The Swiss company SMD Security Printing Sàrl with its Icynote brand is trying to create a bitcoin in paper money, similar to traditional banknotes, for cold wallet, in the middle of the digital age and in the midst of the rise of cryptocurrencies.

Currently, traditional physical bills and coins are used less and less by buyers, since most operations are carried out through mobile wallets, computers connected to the Internet or using credit or debit cards.

However, there are markets and people who do not have much knowledge in the management of smart devices or Bitcoin exchanges who want to invest in cryptocurrencies and keep their assets off the Internet.

And it is precisely those markets that Icynote wants to target. Martín Demierre, co-creator of the brand, stated “For these people is the ticket since they would not have to worry about a possible hacking or having their bitcoins stolen. Furthermore, when it is moved outside the network, it does not leave traces, which in many cases could facilitate the purchase or sale.”

Although there are also businesses that accept bitcoin as a form of payment and could use the bill as a wallet and receive funds directly from their customers, the buyer would only have to scan the QR code and send their cryptocurrencies directly to the ticket of the establishment.

Banknote manufacturing

The security of the banknote will be guaranteed, for which its authenticity will be certified with holograms, use of inks with magnetic and infrared properties and a security seal. In addition, it seeks to shield the protection of the stored BTCs.  Icynote executive emphasized in an interview, the banknote’s production process, explaining that each piece contains the private keys that are kept hidden.

“In the manufacturing process, nobody can see the private keys because the Swiss company that prints is ISO 2700 certified; that is, there is integrity of the information, just like the printing of passports, checks or credit cards. A quantum generator, which is not connected to the Internet, provides a random number that cannot be repeated”, Demierre said.

During manufacturing there are two people, from different companies, mutually monitoring each other and who are monitored by video cameras. in none of the stages nobody can see the code, even people do not carry mobile phones with them. Demierre pointed out.

M. Rodríguez

Source: noticiasdebariloche.com

La entrada Swiss company wants to create bitcoins in the form of banknotes apareció primero en Bitfinance.