Bitcoin and Banknotes – When Physical Meets Digital

Cryptocurrencies, the best known of which is Bitcoin, exist almost entirely in the digital sphere, connecting with the physical world only if the owner writes down their digital key or if they use one of the growing number of ATMs where they can exchange their cryptocurrency for physical cash. A new venture, Noteworthy*, is looking to change that, embedding cryptocurrencies into what will look and feel like a traditional banknote.

Peter Vessenes, who was the founding Chairman of the Bitcoin Foundation, has teamed up with Larry Felix, former Director of the US Bureau of Engraving and Printing, to start a co-venture called Noteworthy. Felix is CEO and has gathered together a team to make this a reality. Many of their names will be recognised by banknote industry insiders, for example Philippe Barreau, Douglas Crane and Edmund Moy as part of his adviser team and Manuela Pfrunder and Thomas Hipschen in the design team (see sidebar).