Startup Launches Loaded Bitcoin Cash Notes to Spread BCH Adoption

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Startup Launches Loaded Bitcoin Cash Notes to Spread BCH Adoption

Bitcoin Cash proponents can purchase collectible and loaded BCH notes from a company called Global Notes based in Melbourne, Australia. The creator of Bitcoincashnotes.com is a firm believer in Satoshi Nakamoto’s vision for a peer-to-peer electronic cash system and thinks the low fees tethered to the BCH chain are “vital for the economic feasibility” of the company’s physical bitcoin cash product.

Also read: Panda Exchange Deploys Hybrid Point of Sale and Crypto ATM in Bogota

Loaded Bitcoin Cash Notes

A startup called Global Notes has introduced a series of collectible bitcoin cash bearer bond notes that are loaded with a small fraction of BCH. The creator believes BCH funded notes are a great way to spread adoption by tipping people for their services and gifting friends and family as well. The company’s website Bitcoincashnotes.com has released its first release version 0.1.0 which contains a denomination of 1mBCH (0.001 BCH or $0.11 at the time of publication) per bill.

“[Bitcoin cash notes] are preloaded paper wallets that look and feel like real money — Each note contains Bitcoin Cash equal to its face value,” explains the Bitcoincashnotes.com website. “A private key has been encapsulated in each note underneath a tamper-evident seal, giving you access to the bitcoin cash at any time.”

Startup Launches Loaded Bitcoin Cash Notes to Spread BCH Adoption
Bitcoin cash notes front and back.

The company sells notes in a standard variety and a collectors’ edition. The bills look similar to a U.S. dollar but instead of dead presidents, these notes have a picture of Dorian Nakamoto. The note comes with a printed public key and private key so the bearer can sweep the funds at any time. On the top, there is a disclaimer detailing when the notes were issued with the promise that Global Notes originally loaded the funds on the bill and this can be verified onchain. Under the public key QR code, it says 1mBCH and version 0.1.0 alongside the bill’s print number.

On the right side of the bill is the private key which is covered by a tamper-resistant holographic sticker. Under the sticker, it says that there is a non-deterministic private key underneath and if the key is accessed and swept the bill will be void. The top of the note reads “Bitcoin Cash Note” and below Dorian it says “One Milli Bitcoin Cash.” The backside of the bill is a colorful orange design that reads “In cryptography we trust.” All the notes are numbered sequentially with a note ID alongside a version number which details the exact release of the bill.

“The 4 digit code printed at the top left-hand corner of the tamper-evident seal provides enhanced security against covering a tampered seal with a new seal,” the company details. “The 4 digit code equals the last 4 digits of the Bitcoin Cash address.”

Bitcoincashnotes Aims to Further Progress Economic Freedom to the Unbanked

Bitcoincashnotes says that it operates with high standards of integrity and the company values the trust customers provide. To ensure the private key is kept safe on the bill, the manufacturer’s applied a holographic tamper-evident seal made of a light-impenetrable material and scrambling text. The BCH note producer also details a number of ways customers can authenticate the integrity of the BCH bills.

Startup Launches Loaded Bitcoin Cash Notes to Spread BCH Adoption
BCH notes come in a standard version and collectible series.

First, they can inspect the note for any irregularities and check the note’s version number with the company’s changelog. This will ensure the note’s printed ID corresponds to the version number, explains Bitcoincashnotes. Customers can also verify that the four-digit code printed on the top left-hand corner of the tamper-evident seal to make sure it equals the last four digits of the BCH address. Furthermore, the funds can be verified onchain as well by scanning the QR code tethered to the public BCH address.

Currently, there are 15 different countries Bitcoincashnotes will not ship to including places like Algeria, Bahrain, Bangladesh, Bolivia, China, Ecuador, Egypt, Iceland, and Iraq. Additionally, the standard and collectible BCH bills can only be purchased with bitcoin cash. Bitcoincashnotes says the firm considers itself a “social enterprise” and aims to help change the world with the help of a reliable peer-to-peer cryptocurrency system.

“In the long term, we would love our notes to transform into something that provides economic freedom to the unbanked 3 billion people in the world who are constantly being ravaged by inflation — But for now, bitcoin cash notes are just a bit of fun for us regular banked people,” the bill manufacturer concedes.

What do you think about the loaded 1mBCH bills? Let us know what you think about this subject in the comments section below.

Disclaimer: Bitcoin.com does not endorse nor support this product/service. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. This editorial is for informational purposes only. 


Image credits: Shutterstock, and Bitcoincashnotes.com.


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