The city of Ticino and Tether will undertake to create a center of excellence for the adoption of crypto and distributed ledger technologies

The City of Lugano and Tether Operations Limited, a company that supports the Blockchain technology-based platform that powers the largest stablecoin by market capitalization (USD₮), announced on March 3, 2022 in a crowded conference at the Centro dei Congressi a collaboration aimed at creating a European center of excellence for the adoption of the Blockchain.
The memorandum of understanding signed between the locality on the banks of the Ceresio and the company incorporated under US law will encourage the adoption of Blockchain technology at a local level and will allow citizens to pay taxes and fees for all services in Bitcoin, Tether or stablecoins based on the Swiss franc.
Established in October 2014 and headquartered in British Virgin Islands, Tether was the first and only stablecoin available on the market until March 2018; it has revolutionized the traditional financial system by offering a more modern approach to money; it has contributed to a system that fosters interconnectivity by adding fiat-digital currency to the Bitcoin and Ethereum Blockchains; and it is committed to full transparency and regulatory compliance.
Together, the two partners will work towards the shared goal of increasing the city's Blockchain capabilities and promoting the Lugano urban agglomeration as a new hub for the adoption of Blockchain at the European level.
The honors were done by Michele Foletti, Mayor of Lugano, assisted by Pietro Poretti, head of the Economic Development Division, in the presence of Paolo Ardoino, Chief Technical Officer of Tether.

Video, the vernissage of the cooperation between Lugano and Tether

A laboratory for practical applications from synergy

The goal of this partnership is to apply Blockchain technology in a concrete way on a municipal scale.
So far, in fact, most Blockchain projects have focused on fundamental issues (theoretical, scientific, philosophical), paying little attention to local communities and the development of practical applications.

A boost for the Living Lab and its mission to innovate

Lugano is already home to various initiatives devoted to innovation, including the Lugano Living Lab which implements projects in the field of innovation and digital through experimentation and prototyping on an urban scale.
The specific ecosystem of Lugano therefore allows Tether to go beyond most of the current implementations of the Blockchain, working together with the Municipality to create the first practical cases on an urban scale.

Future scalability and a unique payment system in the world

In the near future, the city aims to allow citizens and companies to pay taxes, fees, goods and services provided by the public body also in cryptocurrency, accepting only Bitcoin, Tether, and some Swiss franc-based stablecoins. Lugano will thus be one of the first cities in the world to implement a complete cryptocurrency payment system.
Together with Tether and other service providers, the City will ensure the necessary technological infrastructure for local businesses wishing to integrate their existing payment services with Bitcoin and permitted stablecoins.
Among the solutions proposed to integrate payment services there is Lightning Network, today a widespread, highly scalable and robust payment system, which allows you to overcome the scalability obstacles associated with the Blockchain without sacrificing security, reliability and privacy.

“3Achain”: this is how Lugano promotes a blockchain with triple A

Two funds of up to 3 and 100 million to help companies and start-ups

The memorandum of understanding between Lugano and Tether inaugurates a strategic collaboration based on various initiatives, including the creation of a specialized hub in the city center intended to host companies and start-ups, facilitating their establishment and the management of daily activities, and that can act as a catalyst for all things Blockchain.
The city on the banks of the Ceresio could become a home for the crypto community, but not only.
Led by Tether, a group of leading cryptocurrency companies will create a million dollar fund (starting from a base of 3 million francs) to help finance startups active in the Blockchain space and focused on building Blockchain services to local level.
An additional fund of up to 100 million francs will be used to finance similar blockchain or crypto projects that are really in Lugano (not just with a post office box...) together with the Polygon Technology group.
In addition, Tether will contribute its experience and knowledge in the field of education and training of the new generations in Blockchain technology, through collaborations with local universities and research institutes, making available 500 scholarships in the sector.

An initiative of interest also for the green fintech world

The initiative may also be of interest to green finance.
The use of natural resources and ecological alternatives to power the extraction of Bitcoin allows the latter to act as an accelerator in the development of renewable energies.
Another example of how a territory, by investing in Bitcoin technology, can use the proceeds from mining to reinvest in upgrading local infrastructure.

Michele Foletti: “Lugano is investing in its future”

“Lugano is investing in its future”, said Michele Foletti, Mayor of Lugano.
“In recent years, we have already implemented Blockchain-based solutions, including the MyLugano app and its payment token LVGA Points, the Lugano digital franc, and the city's Blockchain infrastructure 3Achain. We strongly believe in this technology and its scalability potential. The strategic partnership with Tether will help build a better and more open, transparent and intelligent city."

Paolo Ardoino: "We have in mind a model for the world"

“Lugano is a dynamic city, with people who want to innovate and are oriented towards the future,” added Paolo Ardoino, Chief Technical Officer of Tether.
“As the world's leading stablecoin, we envision a future where businesses of all sizes will be able to leverage Blockchain platforms to improve the quality of life of citizens locally by providing more sustainable, transparent and trusted financial and everyday services. We look forward to Lugano becoming a model that anticipates global adoption”.

Upcoming events: the “Bitcoin World Forum” from 27 to 29 October

This is, in fact, the latest development of a process started by Lugano over a year ago with concrete actions aimed at positioning itself as the destination of choice in a rapidly growing sector.
The city's Blockchain 3Achain already has about thirty partners among the most important public and private companies in the country.
The city also announced an event that for the month of October this year, on the 26th and 27th, the Bitcoin World Forum, in the presence of top speakers such as Adam Back, Max Keiser and Samson Mow.
The event will promote the debate on freedom of communication and finance and will explore topics such as financial disintermediation, the accessibility of financial services, people without access to banking services and regulation.
Tether will support the conference by bringing the main leaders of digital finance to Lugano, creating opportunities for collaboration and networking.