There is every reason to believe that some people haven’t really grasped the utility of cryptocurrencies. The Icynote project, whose creators are based in Geneva, indeed aims to produce physical, paid notes to store your Bitcoin in. A ticket costs a little more than eight euros, offering the possibility to store as many tokens as possible. With the added bonus of a real hologram to guarantee the authenticity of the amount…
If the initiative can make you smile, it is nevertheless very well explained on its official website, although in a very approximate French, which leaves you puzzled. One can read that the system uses a QR code that the buyer must scan to unlock the ticket before depositing funds. On the reassurance side, the manufacturer offers a dozen arguments including a “notarial proof […] of integrity, authenticity, non-repudiation and uniqueness“, recalling the principle of NFT.
An entire section of the Icynote website is dedicated to dispelling the fears of potential users. It states that the paper used for the banknotes is durable, as it is water and tear resistant (?) and uses ink similar to that used for Swiss francs. In addition, the hologram itself is certified to meet the requirements of traditional banks.
The issuer also easily compares its notes to the cold wallet, a term for techniques that avoid connecting one’s cryptocurrencies to the Internet. The best known examples are the paper wallet and Ledger USB keys, which we had the chance to test in our columns before.
In addition to the notes, Icynote also offers a dedicated application to be found on the Google Play Store (a version for iOS is also in the works). It is a basic application that allows you to convert Bitcoin into fiat currencies: you can find the US dollar, the British pound and the Japanese yen, but everything suggests that the South American market is one of the first to be targeted for the moment. The address of the BTC wallet is also listed, so that transfers can be made more easily.
Let’s end with a little disclaimer; it is imperative to remain cautious when faced with this type of novelty, especially since the company’s showcase is particularly shaky here.