Noteworthy Litepaper

  • Trust: Vast sums of cryptocurrencies remain stranded in wallets of the deceased and those who have lost credentials. Billions more have been lost to hacking, phishing, spoofing, and other schemes. A user may have a sound strategy for managing passwords today, but this can’t ensure that a password won’t be mishandled following a family death. With the risks associated with crypto self-custody being completely different from traditional assets, users in the mainstream will remain hesitant before investing.
  • User experience: Public wallet addresses, private keys, two-factor authentication, exchanges, full-custody wallets, non-custodial wallets, seed phrases, gas fees, mining, sidechains. For the uninitiated, this is a minefield of confusing jargon that will shake the enthusiasm of any new user to store their hard-earned money in crypto. Most of us have had the experience of attempting to explain how Bitcoin works to our parents or grandparents, only to conclude that cryptocurrency’s confusing mechanisms to ensure its security are simply too much new technology for most people to easily understand.
  • High transaction fees: Proof-of-work coins are the workhorse of the crypto industry. Taken together, they represent a 66% dominance of the crypto market cap with Bitcoin accounting for 44% overall, as of this writing. However, average transaction costs for Bitcoin regularly reach over $200 which severely limits its circulation and usability. It is clear that getting Bitcoin and all of its sibling proof-of-work currencies into the mainstream will require that transaction fees can become effectively zero in most circumstances.
  1. Tangibility: A Noteworthy banknote is physical and denominated in the cryptocurrency it holds — just like any fiat currency across the globe. This is the simplest and most accessible paradigm for understanding and exchanging money and will dramatically reduce the perceived risks and overall confusion associated with adopting crypto.
  2. Self-custody: If you hold it, you own all aspects of its value, independent of the policies of exchanges, banks, or governments — just like with any fiat currency or precious metal. Noteworthy banknotes remove the remaining barriers to a truly permissionless form of crypto.
  3. Trust and Fungibility: Noteworthy banknotes are designed by our Chief Design Officer, Manuela Pfrunder who also designed the 9th Series Swiss Franc currently in circulation. Manuela’s designs integrate literally dozens of security features and printing processes to provide the world’s most advanced anti-counterfeit banknotes available today, and that unmistakable ‘feel’ that authentic currency has when held in the hand. This integrated design provides the baseline trust regime that is necessary so that a note may be physically exchanged for value in a secondary, off-ledger market for zero fees and without the intervention of any exchange, bank, or government. This is critical to bringing many more people into the crypto world who otherwise won’t have access to a digital wallet infrastructure.
  4. Real-time confirmation of funds: Our crypto banknotes possess a QR code so that any user may easily scan a note to confirm that funds are indeed allocated on the blockchain to its corresponding address. Noteworthy offers a smartphone app to authenticate funds associated with the wallet’s public address in conjunction with a chip embedded in the note as an additional security feature.
  5. Simple redemption into fiat currencies: Users may easily redeem their Noteworthy notes by exposing the private key hidden underneath the security foil for easy deposit into a digital wallet. After redemption, the note no longer holds crypto but remains a beautifully-designed souvenir.
  6. Intergenerational store of value: Just as with cash or precious metals, possession equals absolute ownership with Noteworthy banknotes. Significant infrastructure already exists for secure storage of valuables today whether that be in homes, banks, businesses, or institutions. In the event of a family death, control of these assets will be in the hands of the executor or trustee and not tied up in the changing landscape of crypto regulations or, worse, lost forever. A cryptocurrency banknote represents actual value in your hands as with other physical assets, unencumbered by third parties. Unlike other cold storage solutions and paper wallets, the simplicity and durability of Noteworthy-designed cryptocurrency banknotes will be able to stand the test of time amid a rapidly evolving technological landscape.

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