Japanese company Raimu Inc. has prepared for release a series of physical bitcoin units to promote the digital currency among the public. The coins contain amounts small enough to compete with fiat change.

The Suzuka-based trading company will now dedicate its efforts to the manufacturing and sale of physical bitcoins. It will also provide consulting services on business application of the bitcoin technology and fintech.

In an interview with Corbett Report, the President of Raimu and founder of Satori Coin Inc. Motonori Kan explained that since bitcoin is purely a digital entity, it may benefit more a physical dimension to get understood. Thus, his company started with installing Japan's first bitcoin ATMs and then moved on to develop physical bitcoin which would look like ordinary money to let people get used to seeing bitcoin as such.

“Bitcoin exists only in the Internet. We wanted to spread the understanding of bitcoin among Japanese people, so we imported a bitcoin ATM back in Spring 2014. But we quickly realised that ATM concept was way too advanced for most Japanese people.”

Thus, the company decided to reach the utmost simplicity by creating physical coins. Unlike Casacuis and Denarium, which Kan regards as “too expensive”, Satori Coins represent a tiny share of a bitcoin worth half a dollar in current price. Every Satori Coin has its private QR-code which can be scanned by any blockchain app in order to transfer the money to one's online wallet. The code is hidden under a hologram seal.

“If for instance, the value was stolen or lost because of mismanagement, the amount of bitcoin loaded is so small, it is unlikely that you will lose much sleep. Even if you encounter this mishap, it will be a valuable learning experience,” reads the official website.

Earlier in March, Japanese government acknowledged digital currencies as “methods of payment equivalent to conventional currencies.”


Maria Rudina