The Swiss City of Lugano Embraces Blockchain Technology
The city of Lugano in Switzerland has made a significant move towards embracing blockchain technology by integrating Polygon’s Proof of Stake (PoS) into its MyLugano payment application. This integration is a milestone for Lugano, known as Europe’s most crypto-friendly municipality, as it aims to become a blockchain hub.
MyLugano, an award-winning app, has connected nearly half of Lugano’s population to the city’s loyalty program through its stablecoin, LVGA. The latest update to the app enhances its local payment capabilities and provides users with access to decentralized applications on the Polygon network.
Enhanced App Features and Future Plans
The updated app now includes an asset section that allows more experienced crypto users to activate and manage a multi-chain digital wallet for personal custody. Currently supporting several tokens, the app plans to expand this offering in the future.
Lugano’s vision extends beyond the app, aiming to transform the town into Europe’s blockchain capital. The city plans to accept Bitcoin, Tether, and LVGA for various payments, including taxes, parking tickets, public services, and student tuition fees. Polygon PoS will play a crucial role in facilitating these transactions.
NFT Collection and Collaboration
MyLugano is also launching an NFT collection in collaboration with Lugano Living Lab. The collection titled “LVGA/XY Flowers” features artist Yuri Catania’s work and will be transformed into a living green space with over 2,000 paper flowers being planted. The artwork will be immortalized as NFTs on the Polygon network and distributed to participants involved in its creation.
Revolutionizing Local Commerce
The MyLugano app, a partnership between the city of Lugano and Tether, is revolutionizing local commerce for nearly 30,000 residents. It streamlines the use of digital currencies in transactions with local small and medium enterprises.
Center of Excellence for Blockchain Adoption
In March 2022, Lugano inaugurated its Center of Excellence for Blockchain Adoption in collaboration with Tether. This initiative solidifies Lugano’s goal to become a prominent blockchain epicenter in Europe. The city aims to integrate cryptocurrencies into everyday financial transactions, starting with tax payments.
Hot Take: Lugano’s Advancements in Crypto Adoption
Lugano’s integration of Polygon’s PoS into its payment app is a significant step towards establishing itself as a blockchain hub. By embracing blockchain technology and offering a range of crypto payment options, Lugano is leading the way in crypto adoption. The city’s innovative app and plans to accept cryptocurrencies for various payments demonstrate its commitment to creating a crypto-friendly environment. With the launch of an NFT collection and the inauguration of a Center of Excellence for Blockchain Adoption, Lugano is positioning itself as a pioneer in the crypto space. As other Swiss cities have already ventured into accepting cryptocurrencies for tax settlements, Lugano is further solidifying Switzerland’s reputation as a crypto-friendly nation.
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