Bitfinex and Tether chief technology officer Paolo Ardoino spoke to Cointelegraph concerning cryptocurrency adoption in Europe.
As one of a number of Cointelegraph representatives attending the Paris Blockchain Week Summit (PBWS) at the historic Palais Brongniart — a neoclassic building that had been the headquarters for the Parisian stock market from 1826 to 1987 — European news newsperson Joe Hall Sat down for an in-depth interview with the chief technology officer of Bitfinex and Tether, Paolo Ardoino.
Previously ranked 88th in Cointelegraph’s prestigious prime 100 2021 for his influential impact on the expansion of the decentralized finance (DeFi) scheme, Ardoino spoke on an array of topics, including the adoption of Bitcoin and Tether actual legal tenders within the Swiss town of Lugano, the measurability issues of well-liked blockchain networks and therefore the potential for brand spanking new countries to just accept Bitcoin within the future.
In early March, nation town of Lugano — that is additionally a significant monetary hub in Switzerland — fashioned a collaborative partnership with stablecoin operator Tether to launch a three million franc initiative designed to encourage the adoption of blockchain technologies and therefore the use of digital assets.
Utilizing Bitcoin (BTC), Tether (USDT) and therefore the native national loyalty token, LVGA Points, the assets are often transacted by locals for activities like taxation and buying of public product and services.
In addition, the project has conjointly pledged to make instructional scholarship programs within the 3 universities in Lugano, a blockchain summer camp and a maximum-valued 100 million swiss franc ($107.2 million) pot to foster the growth of blockchain start-ups:
“In just one month since the announcement, working with the city we have set up a working group that includes tax, legal and relocation advisors […] and we have been able to start onboarding 25–30 different companies and startups [...], which between the company’s assets and private wealth are valued between 300 to 400 million Swiss Francs.”
Ardoino noted that these firms relocated their operations from each among European country still as from countries like India and Singapore. He declared that their intention is to "use these few startups as a template” to pave the path for others in the future.
( Tom Farren, Cointelegraph, 2022 )