DFINITY Foundation, the not-for-profit organisation behind the development of Internet Computer blockchain, has entered a partnership with the municipality of Lugano, Switzerland, in line with the city’s plans to encourage blockchain development and ultimately become a regional crypto hub.
The Foundation is also launching a $1 million grant fund to encourage Lugano-based startups and developers. Per the announcement, the grant will be issued to developers leveraging the unique capabilities of the Internet Computer to build services that serve the global community.
I am delighted to announce that the DFINITY Foundation has partnered with the Municipality of Lugano to award grants to Lugano-based blockchain companies. We are proud to support our local developer community, and this partnership is a major step forward in Lugano’s journey as a leading blockchain hub.
Michele Foletti, Mayor of Lugano.
As part of the partnership, DFINITY intends to establish an ICP.Hub in Lugano to promote the unique capabilities of the Internet Computer blockchain. Also, the collaboration will see Lugano integrate the ICP blockchain into the MyLugano app, a digital wallet used for crypto payments by the city’s residents and visitors.
Additionally, MyLugano will be upgraded to support more digital currencies, other than the three supported cryptos declared as ‘de facto’ legal tender by the city – LVGA, Bitcoin and Tether. Among the new cryptos include ckBTC, a multi-chain cryptocurrency pegged to bitcoin.
Per the announcement, ckBTC benefits from the Internet Computer’s speed, security and scalability and can be transferred with near-instant finality (1-2s) and for a fraction of the cost of a Bitcoin transfer on the Bitcoin network.
“The DFINITY Foundation is grateful for the opportunity to work with the Municipality of Lugano and bring ckBTC to the MyLugano app,” said Dominic Williams, Founder of DFINITY Foundation. “This partnership is an excellent example of our new technology combined with Lugano’s forward thinking in regard to blockchain technology to accelerate the mass adoption of Web3.”
