Tether, the largest stablecoin in the cryptocurrency market, has announced that it has released a special "Plan B" for Switzerland's ninth largest city. Sharing the new partnership on Twitter, Tether plans to transform Lugano into the "crypto capital of Europe".
"#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 ₿"
According to a statement from stablecoin leader Tether, he looks forward to revolutionizing the financial industry in the city by transforming its economic system and introducing blockchain. It is not yet clear how the stablecoin company plans to do this, but it is stated that it will release more details in March.
The crypto and Bitcoin space is not new to Lunago, the Swiss city of 69k. So much so that in November, Lugano announced the launch of a Blockchain network connected by the city's own Ethereum Blockchain network. The newly introduced Blockchain network based on the proof-of-authority consensus algorithm was working on open source technology.
Ruby On Rails CEO Changes His Mind on Crypto
David Heinemeier, CEO of Ruby On Rails, an open source web development framework, was known for his skepticism towards Bitcoin. Heinemeie argued that western democracies would not need the freedom that cryptocurrencies provide. However, recent developments seem to have cleared David Heinemeier's doubts. Acknowledging that he was wrong about his approach to cryptocurrency, Heinemeier shared a blog post.
Criticizing the ongoing peaceful protests in Canada with the harsh intervention of the government, Heinemeier said that freezing all bank accounts of the protesters and treating them as terrorists is unacceptable. “This is crazy. Absolutely proof. Terrible. I still can't believe this has turned into a protest that will prove every Bitcoin is a prophet. I have to admit that I was wrong about the basic necessity of crypto in Western democracies. It is now clear to me that I was too hasty to reject crypto entirely. Crypto is our best chance to protect our freedom to trade right now and we should appreciate it. You don't need laser eyes or an NFT avatar to appreciate it though."