Lugano’s Plan B — Huge progress for the mainstream blockchain adoption

Ground Zero News covers the most recent news from the crypto and blockchain space.

Introduction

Lugano’s Plan B Conference, City of Lugano

Lugano’s Plan B — held in the City of Lugano on March 3rd, 2022, was a conference focused on the growing challenges and opportunities in the world of digital assets, blockchain technologies and transformative cryptocurrencies.

Palazzo dei Congressi, City of Lugano

The fully booked conference was held in the city’s Palazzo dei Congressi, with an option for free online viewing. The audience consisted of people from all over Europe.

Speakers

The main conference speakers were:

  • Pietro Poretti — Head of the economic development, City of Lugano
  • Michele Foleti — Mayor, City of Lugano
  • JL van der Velde — CEO, Tether
  • Paolo Ardoino, CTO, Tether

The conference was opened by the mayor of Lugano, Michele Foletti, who gave an introductory speech on the rich history of the city and the role it played in the historical development of the region.

“Lugano is historically a land of revolutionary innovation and freedom. Lugano wants to be once again the home of innovation, namely the one started by Satoshi Nakamoto.”
Michele Foleti — Mayor, City of Lugano

Bitcoin, Tether and $LVGA to become legal tender in Lugano

Bitcoin, Tether and $LVGA to become legal tender in Lugano

The biggest news of the conference is that the city of Lugano, together with its partner Tether, is working on bringing Bitcoin, Tether, and the city’s stablecoin $LVGA to the mainstream as a way to pay all personal and corporate municipal taxes, as well as numerous services and everyday life fees.

Citizens of Lugano will be able to pay the following with the use of Bitcoin, Tether and $LVGA:

  • public services and parking tickets
  • market site fees
  • ID and passport issuance fees, naturalization fees, signature authorizations
  • construction permit fees, boat docking fees
  • tuition and meal fees for students
  • garbage taxes
  • access to public infrastructure, public events, rental spaces for events
  • excerpts from official legal registers

Lugano’s Plan B

Summary of the Lugano’s Plan B

The Hub

Together with Tether, Lugano is building a physical venue for the blockchain companies in Lugano. The size of the venue will be several hundred square meters and it will be located in the city center. The goal is to use the size and influence of Tether as a magnet to invite more companies to join the blockchain movement. The hub will also have a recreational space for students and blockchain enthusiasts, as well as a blockchain cafe intended for networking.

The infrastructure of Lugano should allow for an easy, straightforward approach to building blockchain-based products and companies with minimal bureaucracy.

The Fund

In order to support the growing number of blockchain companies, Tether, together with its partners, is establishing a fund, with an initial capital of 3 million Swiss francs (approximately $3,26m).

One of the goals of the fund is to help the local businesses successfully integrate their operations with blockchain-based payment and processing systems. The fund also aims to attract additional talent from abroad to come and work in Lugano.

Luga — City’s stablecoin

The city plans to develop the official stablecoin Luga, which will together with Tether simplify some of the payment processes running in the city.

Polygon as an infrastructure partner

One of Tether’s most prominent partners in developing Lugano as Europe’s blockchain capital is no other than Polygon. Polygon will also be a critical partner for developing and establishing the city’s stablecoin.

Colaboration with the University of Lugano

Each of the conference speakers addressed the growing challenge of finding a skilled blockchain workforce, not only in the field of blockchain development but in all areas of the industry.

Because of this, the University of Lugano will launch a specialized curriculum aimed to teach in-demand blockchain skills to the students. The team hopes to also attract new students, interested in building a career in the blockchain industry.

Tether will also offer 500 student scholarships in order to provide education to the young minds interested in learning blockchain and cryptocurrency skills.

Bitcoin World Forum

Pietro Poretti announces the Bitcoin World Forum, 26th — 28th October 2022.

Plan B will also host a new upcoming conference, called the Bitcoin World Forum and the dates are already set for 26th to 28th October 2022. The team hopes to attract some of the most prominent blockchain and crypto speakers to join the conference.

Pietro Poretti also announced that Adam Back, the CEO at Blockstream has already confirmed his attendance at the upcoming Bitcoin World Forum.

Lugano to mine Bitcoin on renewables only

One of the most surprising news of the conference was that the city of Lugano plans to install Bitcoin mining equipment which will run purely on renewable energy. Lugano is already one of the leaders in renewable energy production in the region, so it comes as no surprise that Lugano’s Plan B aims to use some of that energy to mine crypto.

Paolo Ardoino explained that Tether has recently invested a lot of resources into Bitcoin mining, hoping to achieve diversity in mining, opposed to the current situation in which the majority of the world’s mining comes from a few central places, such as Kazakhstan, the USA, and until recently China.

The mining infrastructure will be used in such a way that only the surplus of the generated electricity will be used for mining. The community will continue to hold the priority on the delivery of electric energy.

Notable quotes by the speakers

On traditional finance

“Bitcoin, crypto, blockchain… certainly the terms that frighten many, especially in institutional and conservative circles. But Lugano is not intimidated. (Lugano) believes that these technologies should be disseminated and accessible to all.”
Michele Foleti — Mayor, City of Lugano

On the future of crypto

“For us it is clear. Blockchain exists, Bitcoin exists, and it is here to stay.”
Michele Foleti — Mayor, City of Lugano

On crypto utility

“Today several hundred million people use cryptocurrency to achieve their financial goals.”
JL van der Velde — CEO, Tether

“We have seen recently in a really sad set of events, starting from the turmoil in Canada, and then, of course, the even worse situation that is the war in Ukraine, how Bitcoin and Tether are used as instruments of freedom.
JL van der Velde — CEO, Tether

“We created the payment token (in Lugano), which is accepted today by almost two hundred stores, restaurants and service providers in the city of Lugano.
Pietro Poretti — Head of the economic development, City of Lugano

On the future of Lugano

“Tether and the magnificent city of Lugano, have decided to commit to the building of the Bitcoin capital of Europe. We are working hand in hand to create the center of excellence that will demonstrate the real-world use of blockchain technologies.
JL van der Velde — CEO, Tether

On crypto utility outside of Europe

“We are seeing other cities now like Miami and Dubai, looking at crypto as an opportunity. Because we have to bear in mind that the entire crypto market is varying between two to three trillion dollars. It grew so big that it cannot be ignored anymore.
JL van der Velde — CEO, Tether

On blockchain development

“Lugano announced the 3A Chain, which is a city blockchain and a proof of authority blockchain.”
Pietro Poretti — Head of the economic development, City of Lugano

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Cheers,

  • The Ground Zero team

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