{"id":58267,"date":"2022-02-23T10:58:11","date_gmt":"2022-02-23T08:58:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58267"},"modified":"2025-09-04T15:56:51","modified_gmt":"2025-09-04T12:56:51","slug":"tether-to-turn-swiss-lugano-into-europes-bitcoin-capital","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tether-to-turn-swiss-lugano-into-europes-bitcoin-capital\/","title":{"rendered":"Tether to turn Swiss Lugano into Europe\u2019s Bitcoin capital"},"content":{"rendered":"<p>Tether and the authorities of Lugano, the ninth most populous city in Switzerland, announced plans to transform the city into Europe\u2019s Bitcoin capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> and stablecoins are revolutionizing the financial sector. <a href=\"https:\/\/twitter.com\/hashtag\/tether?src=hash&#038;ref_src=twsrc%5Etfw\">#tether<\/a> and The City of Lugano\ud83c\udde8\ud83c\udded <a href=\"https:\/\/twitter.com\/luganomycity?ref_src=twsrc%5Etfw\">@luganomycity<\/a> are teaming up to transform Lugano into the European <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> capital.<\/p>\n<p>Every city needs a plan. Join Lugano\u2019s Plan \u20bf <a href=\"https:\/\/t.co\/wmhFVePcPo\">pic.twitter.com\/wmhFVePcPo<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1495709553010397185?ref_src=twsrc%5Etfw\">February 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On March 3, Lugano mayor Michele Foletti and Tether CTO Paolo Ardoino will reveal details in a live broadcast.<\/p>\n<p>The initiative is promoted as \u201cPlan \u20bf\u201d for Lugano. It is intended to revolutionize the city&#8217;s financial sector, known for its friendly stance toward blockchain technology.<\/p>\n<p>Following the late-2020 launch of the MyLugano app and the LVGA Points citizen payment token, development of a corporation-focused blockchain 3Achain followed. In November 2021, the Lugano Living Lab digital innovations hub held an NFT-focused exhibition.<\/p>\n<p>A day after the announcement of the event, Foletti, in a Twitter response to criticism of Bitcoin, explained that the municipality is promoting 3Achain as \u201ca more sustainable, public and open-to-all blockchain with limited costs\u201d.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"it\" dir=\"ltr\">Ma noi puntiamo sulla nostra 3Achain, pi\u00f9 sostenibile, pubblica e aperta a tutti con costi limitati <a href=\"https:\/\/t.co\/r6HS5Fs42a\">https:\/\/t.co\/r6HS5Fs42a<\/a> Blockchain per noi \u00e8 un\u2019opportunit\u00e0 per tutti coloro che guardano al futuro con curiosit\u00e0 <a href=\"https:\/\/t.co\/EQHtidHgcW\">https:\/\/t.co\/EQHtidHgcW<\/a><\/p>\n<p>\u2014 Michele Foletti (@MicheleLugano) <a href=\"https:\/\/twitter.com\/MicheleLugano\/status\/1495884621921361928?ref_src=twsrc%5Etfw\">February 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>That could be perplexing, given the Bitcoin reference in the forthcoming event.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere is a tendency to link blockchain technology with digital currencies, such as Bitcoin, and more broadly with the world of finance. In fact it is used for a wide range of tasks, such as tracking the production process, certifying ownership, authenticity of a particular document, product or acquired right. Up to secure online voting and management of digital identity,\u201d says on the 3Achain project site.<\/p>\n<\/blockquote>\n<p>The blockchain promoted by Lugano authorities uses the Proof-of-Authority consensus algorithm.<\/p>\n<p>3Achain is based on Quorum. In 2017 the Ethereum-based platform was developed by JPMorgan, and in 2020 it was <a href=\"https:\/\/forklog.com\/en\/news\/consensys-acquires-jpmorgans-quorum-blockchain-platform\">acquired<\/a> by ConsenSys.<\/p>\n<p>Back in November 2021, Salvadoran President Nayib Bukele <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-to-issue-1-billion-bitcoin-bonds-on-the-liquid-network\">announced<\/a> the construction of Bitcoin City (Bitcoin City). It is expected to become a full-fledged metropolis with residential and business districts and the necessary infrastructure. The city is designated as a special economic zone where income, property, capital gains and payroll taxes are not levied.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full stream of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company Tether and the authorities of Lugano announced plans to transform Lugano into Europe\u2019s Bitcoin capital.<\/p>\n","protected":false},"author":1,"featured_media":58268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,468,1245],"class_list":["post-58267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-switzerland","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58267"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58267\/revisions"}],"predecessor-version":[{"id":58269,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58267\/revisions\/58269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58268"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}