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Tether And The City Of Lugano Presented Its “Plan B.” What Did We Learn?

The City of Lugano in Switzerland, the most important Italian-speaking city outside of Italy, is not playing around. The goal of their “Plan B” is to “make Lugano the blockchain hub for the entire Europe,” according to Tether’s Paolo Ardoino. And it will probably succeed. The city wants to attract investment and talent, attract wealth and smart minds, and they’re putting their money where their mouth is. Why do they have to brand their plan using bitcoin’s name, though? In NewsBTC’s previous article about the project we were very critical, and even raised the possibility of this being an affinity scam. Bitcoin name is heavily used in all promotional materials, but the protagonists talk about blockchain and crypto like there’s no tomorrow. Why would Tether Ltd. and its partners not make this a crypto project and call it a day? We closed said article giving them the benefit of the doubt: “And here comes the Mayor of the city of Lugano and Tether to sing bitcoin’s praises. A “blockchain not bitcoin” guy and the organization behind the most controversial stablecoin. Even though it’s suspicious, let’s give them the benefit of the doubt and hear what they have to say. They might surprise us at the March 3rd conference. Maybe Lugano has a Plan B after all.” Do they have a Plan B? Let’s find out. Bitcoin Legal Tender In Lugano. And USDT. And LVGA The story’s headline is that Bitcoin, Tether, and LVGA, the city’s own cryptocurrency, will be legal tender in Lugano. Residents will be able to “pay all personal and corporate municipal taxes” in any of those cryptocurrencies. Besides that, the city’s authorities have already onboarded 200+ shops and businesses to accept them. There’s more though. You’ll be able to use bitcoin, USDT, and LVGA to pay for: public services, parking tickets, dog taxes, ID and passport issuance fees, naturalization fees, construction permit fees, boat docking fees, tuition and meal fees, garbage taxes, signature authorization, access to public infrastructure, access to public events, rental spaces for events, and cemetery taxes. Who Presented The News And What Did They Say? The panel consisted of: Michele Foletti, the city’s Mayor, who spoke in Italian. Jan Ludovicus van der Velde, CEO of Tether, who spoke via video. Pietro Poretti, economic development division for the City of Lugano. Paolo Ardoino, CTO of Tether The Mayor said that “Lugano is, historically, a land of technological innovation and freedom.” He believes that “Bitcoin, blockchain, and crypto” should be “disseminated and accessible to all.” And he’s convinced “that this journey will bring benefits to all the citizens and that’s why this is our commitment.” Jan Ludovicus van der Velde briefly recapitulated bitcoin’s history and talked about the value of open-source software. About cryptocurrencies, he said that while the adoption is wide scaled, in practice, “we lack the ability to exchange with the local bakeries and tailors. We lack the ability to pay for hi..

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Tether & The Swiss City Of Lugano Promise “Europe’s BTC Capital.” Is It, Though?

What’s “Lugano’s Plan B”? The 9th biggest city in Switzerland plans to become Europe’s Bitcoin city. And Tether is there to help. How will the two entities accomplish that? On March 3rd, Tether’s Paolo Ardoino and Michele Foletti, the Mayor of the city of Lugano, will unveil the plan at a live-streamed conference. #bitcoin and stablecoins are revolutionizing the financial sector. #tether and The City of Lugano @luganomycity are teaming up to transform Lugano into the European #bitcoin capital. Every city needs a plan. Join Lugano's Plan ₿ pic.twitter.com/wmhFVePcPo — Tether (@Tether_to) February 21, 2022 Announcing the event, Tether summarized the situation as follows: “bitcoin and stablecoins are revolutionizing the financial sector. Tether and The City of Lugano are teaming up to transform Lugano into the European bitcoin capital.” For their part, the city’s official Twitter said, “The journey of the City of Lugano continues to discover the innovative sector #blockchain #Bitcoin #StableCoin.” Continua il percorso della Città di #Lugano alla scoperta del settore innovativo #blockchain #Bitcoin #StableCoinProssimo incontro il 3 marzo 2022, ore 17 al LAC, su iscrizione, oppure streaming @Tether_to @LuganoLivingLab https://t.co/g3NYTffvAT — Lugano (@luganomycity) February 21, 2022 “We at Tether_to and the Administration of the City of Lugano have been tirelessly working together to prepare Lugano’s Plan ₿!,” completed Tether’s Paolo Ardoino. He was also bold enough to predict, “100% crypto will relocate to Lugano.” We at @Tether_to and the Administration of the City of Lugano have been tirelessly working together to prepare Lugano's Plan ₿! 3rd March 2022 , I'll join @MicheleLugano (mayor) in a live conference, to disclose the plan!100% #crypto will relocate to Lugano #Bitcoin https://t.co/dely2sBeNM — Paolo Ardoino (@paoloardoino) February 21, 2022 This all sounds wonderful, but, are they selling smoke? Even though bitcoin is prominently shown in all of the promotional material, a deeper look at the player’s words suggests the Lugano plan is to be a crypto city. Which is very different from a bitcoin city. Related Reading | USDC Leaves Tether Behind In Terms Of Market Cap And Becomes First On Ethereum How Much Bitcoin Will Lugano‘s Plan B Have? In a recent Twitter exchange, Michele Foletti responded to the worst question possible. Someone asked the Mayor of the city of Lugano about the usual bitcoin FUD, that it’s slow and expensive like the Lightning Network doesn’t exist. That it’s bad for the environment like that narrative didn’t collapse a while back. How did Foletti respond? “We focus on our 3Achain, more sustainable, public and open to all with limited costs http://3achain.org Blockchain for us is an opportunity for all those who look to the future with curiosity.” Ma noi puntiamo sulla nostra 3Achain, più sostenibile, pubblica e aperta a tutti con costi limitati https://t.co/r6HS5Fs42a Blockchain per noi è un..

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usdt to paypal

How to Exchange Tether to PayPal

How to Exchange Tether (USDT) to PayPal There are many reasons you may want to exchange your Tether to PayPal. Given PayPal’s breadth of services compared to Tether, it is more commonly used as a payment method. So you may use an online exchange such as ExPay 24 to exchange …

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Tether to WebMoney

How to Exchange Tether to WebMoney (Usdt To WMZ)

How to Exchange Tether (USDT) to WebMoney (WMZ) There are many reasons you may want to exchange your Tether to WebMoney. Given WebMoney’s breadth of services compared to Tether, it is more commonly used as a payment method. Also, it is not possible to perform a Tether to WebMoney exchange …

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Stablecoin

What is Stablecoin

Stablecoin is a stable digital currency at a steady price. When traders introduced bitcoin and similar digital currencies as one of their payment methods, they quickly faced the fundamental problem of price fluctuations. Stablecoin is a solution to deal with market fluctuations. The price of most digital currencies is determined …

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cryptocurrencies

The Top 10 cryptocurrencies

Introducing the Top 10 cryptocurrencies with the largest market capitalization in the year 2020 The storm of cryptocurrencies has swept the world of financial services. Previously, the question was whether these cryptocurrencies could survive in the market or not, but now the question has been replaced by the evolution of …

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tether

Tether Wallet

7 Best Tether Wallet Options to Store USDT Tether is undoubtedly the most popular stable coin in the world of digital currencies and, in short, designed to stabilize the US dollar and flexibility in blockchain technology. USDT is one of the top 10 digital currencies in the world that needs …

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