Kong Cash Releases Technical Overview Paper

kong cash

One of the most amazing tech projects of 2019 has to be Kong- Physical Crypto Cash. I met them in Japan while they debuted their project. Both physically and visually jaw dropping this physical bill contains a chip set that helps you verify the legitimacy of the currency. At a certain period the physical cash becomes worthless and the digital equivalent becomes the way to manage it.

The Kong project proposes a novel way to create sound physical cryptocurrency, or more appropriately crypto cash. There are two primary goals for Kong: (1) achieve a form factor that is conducive to circulation for the purchase of goods and services and (2) minimize the trust required in the issuer of crypto cash given the current state of the art in secure computing. Kong notes don’t store cryptocurrency directly, but rather are backed by cryptocurrency in a trustless fashion through smart contracts. The holder of a Kong note can transparently audit – and ultimately access – the digital cryptocurrency based on a predefined set of conditions.

Read the full paper here.

Nullius in Verba.

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