In the Plan B initiative, launched on March 3, 2022, it was decided that citizens in Lugano, Switzerland, would be able to use cryptocurrencies in many services and pay taxes. The goal of the project was to accept cryptocurrencies as payment for all goods and services in Lugano. The city of Lugano collaborated with Tether on the Plan B initiative, and together they set up the Center of Excellence for Blockchain Adoption with the goal of becoming Europe's blockchain hub.
In Lugano, more than 150 businesses, including McDonald's, have so far been given the opportunity to accept payments with cryptocurrency. The city of Lugano and Tether have announced the launch of the Plan Business Hub to celebrate the first anniversary of the project.
The Plan Business Hub, which will help explore the potential adoption of Blockchain Technology in businesses and the long-term use of cryptocurrencies in EU, will house more than 300 blockchain experts and enthusiasts and serve as a global point of reference in Lugano, according to a report by CoinJournal.
Lugano Mayor Michele Foletti said that the aim of this collaboration is to make Lugano a center of excellence for blockchain technologies, and they have seen increased interest in the first 12 months. Emphasizing that the strength of the project is the ability to show the real-world use of blockchain technologies, Foletti said that businesses of all sizes and sizes have started using blockchain platforms to improve their processes.
