Swiss City To Become The ‘European Blockchain Hub’
The 9th largest Swiss city Lugano has partnered with Tether to pay taxes in crypto, as announced on Thursday March 3rd at the ‘Plan B’ event. The end goal is for businesses and individuals to be able to make every day transactions for goods and services using cryptocurrency across the city.
The collaboration has shared the final mission of becoming a ‘European blockchain hub’ by showcasing real-world examples of how blockchain can be applied and successful in a community. For the partnership they will be implementing the lightning network, which is a second layer technology applied to bitcoin. This uses micropayment channels to conduct transactions more efficiently.
Other announcements at the event held by the mayor of Lugano include plans for the Bitcoin World Forum to be held at the city on October 26-28th.
Who Are Tether?
Tether was launched in 2014 working to disrupt the traditional financial system. Their work supports innovation throughout the blockchain space, giving customers the capability to ‘transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency.’