Tether announced a “₿ plan” for the city of Lugano, which is planned to become the European Bitcoin capital.
The city of Lugano, one of Switzerland’s most important financial centers, will become the European Bitcoin capital — such a transformation was announced by Tether, the stablecoin-issuer behind USDT, via Twitter.
Details of the project, designated as “plan ₿,” are promised to be presented on March 3, 2022, at an online conference where Tether’s technical director Paolo Ardoino and the Mayor of the city of Lugano Michele Foletti will speak.
For now, we know that the plan is to bring about some sort of revolution in the city’s financial sector, which is known for its blockchain-friendly attitude. For example, MyLugano, a crypto app based on the LVGA Points citizen token, is operating in the city. The project infrastructure runs on the corporate blockchain 3Achain based on Quorum with the Proof-of-Authority consensus algorithm.
The city also supports NFT technologies — in November 2021, local innovation laboratory Lugano Living Lab held an exhibition entirely devoted to non-fungible tokens.
