In the picturesque Canton of Ticino, Lugano has transformed itself from a charming Swiss-Italian lakeside city into a burgeoning hub for cryptocurrency and blockchain innovation. Over the past decade, Lugano has embraced digital assets and blockchain technology with a strategic and forward-thinking approach, positioning itself as a leading city in Europe’s crypto landscape. This article explores Lugano's journey to becoming a crypto-friendly city, its implementation of the LVGA strategy, and its aspirations for the future.
Lugano’s crypto journey began with its recognition of the potential of blockchain and digital assets to drive economic growth, foster innovation, and enhance its global reputation. Switzerland has long been a proponent of blockchain technology, with the country often referred to as "Crypto Valley" due to its blockchain-friendly policies and infrastructure, especially in the canton of Zug. Lugano, inspired by this success, sought to replicate and localize these efforts in Ticino, probably achieving even more results, considering that the mayor of Lugano, already in office for some time, is a great supporter
.
The city’s commitment to cryptocurrency became evident when it announced partnerships with key blockchain organizations and hosted numerous conferences (like Plan B) to promote dialogue and innovation in the sector. Lugano’s open-minded regulatory stance and proactive engagement with blockchain technology attracted startups, investors, and developers from around the globe.
A significant milestone in Lugano’s crypto journey was the introduction of the LVGA (like a local digital currency) initiative. The strategy is centered around three core pillars:
Lugano’s ambitions go far beyond merely integrating cryptocurrency into its local economy. The city envisions becoming a global leader in blockchain technology and digital finance. Here are some of its future goals:
While Rome prepares a tax sting on cryptocurrencies in the 2025 budget bill for capital gains and other proceeds from blockchain operations in Lugano, mayor Michele Foletti, who has contributed in recent years to transforming the city into a real Monte Carlo, sent the Italians to follow their example, furthermore having an indigenous digital currency like LGVA which is perfectly equivalent to the Swiss franc, has transformed many projects and events for the city into an economic opportunity for everyone, considering that if you use it there is a 10% cash-back and if for example you run a marathon you can also "earn" it. In short, the best resource for the future and which Lugano has a clear key to, is the diversification of payments, therefore freedom, the important thing is to have more and more options
Born in Italy in 1976. Industrial computer technician and Political Science graduate. Web & Web 3.0 skilled. Involved in major Autonomous Organizations Decentralized. Real Estate Expert - Extrajudical civil mediator. Negotiator
After the 6 hours down occurred last week and the achievement of more than one billion total transactions couple of days ago, popular blockchain The Open Network (TON), linked to Telegram, is getting a good performance, with a growth of over 7%.
The transaction's increase, according to data from the analysis platform TON Scan, exceeded 1.04 billion, half of which occurred in the last three months alone. The rapid increase in the number of transactions indicates the growing commitment of the TON platform, supported by integration with Telegram's billion global users. The continued growth of the TON blockchain can largely be attributed to recent developments, including the introduction of the W5 smart wallet standard.
Over the past week, TON ecosystem has faced a series of setbacks amid a wave of unfavorable news. The turbulence began with the arrest of Telegram founder Pavel Durov, followed by two significant blockchain network outages that halted block production. In total, in just 68 days, the top ten coins within the TON ecosystem have collectively lost $5.13 billion in value.
Today arrived a message from Pavel Durov arrives, after several days during which, for obvious and well-known reasons, communications had ceased, and $TON confirms his desire to roar again. +7% in the last 24 hours, in the face of a crypto market that continues to suffer and move sideways before today's unemployment data, at 2.30pm. A situation which, however, began to develop as early as Thursday afternoon and which confirms that in reality there is something else that is moving on the $TON network and which is helping its recovery. There is an airdrop coming in addition to that of Hamster Kombat, and it will be that of Catizen, another game with a large following among those that have been popular on Telegram.
SOURCE: Coindesk, Criptovaluta.it
READ ALSO ---> "Is Disney back in the metaverse?" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
MILAN - The Meta Economist just met an emerging talent in the crypto economy. Her name's is Paola Angioni and she has a long experience as financial advisor. She's based in Milan but she works worldwide. Her main focus is about a topic we already treat but needed to be analyze properly. Together with Angioni in fact, we talked about crypto mining, the process by which new cryptocurrency coins or tokens are created and transactions involving existing coins are verified and added to the blockchain ledger. What Paola is developing involves mining in a completely new paradigma.
Here she presents Life Miner project in Paraguay, which demonstrates that the use of renewable hydroelectric energy in crypto mining can enhance efficiency and ecological responsibility in the sector. Hydroelectric power, a renewable and low-carbon energy source, provides a reliable and sustainable energy supply for mining operations. This transition reduces the reliance on fossil fuels, thereby lowering greenhouse gas emissions and minimizing the environmental footprint of mining activities. We met Paola in Milan and she's super focused on the Paraguay adventure.
Can you introduce yourself to our readers and tell us about your professional background as an international financial advisor and tell us why you chose to focus on Bitcoin mining instead of cryptocurrency trading?
I am an international financial consultant with over 15 years of experience in the sector. Over the years, I have had the opportunity to work with various institutions and private clients, supporting them to achieve their financial goals through personalized investment strategies.
Bitcoin mining represents a fundamental aspect of the cryptocurrency ecosystem, being the process that guarantees the security and validity of transactions. This gives me a sense of active and concrete participation in building and maintaining a decentralized network.
Furthermore, mining offers stability that trading often cannot guarantee because it is subject to market volatility. While trading can be highly volatile and requires constant attention to market movements, mining allows you to have a predictable and constant income stream from the work of producing Bitcoin. This does not mean that mining is without risks or challenges, but I find that the long-term approach and the opportunity to use advanced and sustainable technologies, such as those offered by stable and long-lasting projects such as Life Miner, a physical company that operates in Paraguay, offer greater stability.
What is your point of view in the comparison between old and new finance? Traditional finance relies on centralized institutions and stringent regulations, offering security but limiting innovation. Digital finance, on the other hand, promotes decentralization and global accessibility, with tools such as cryptocurrencies breaking down traditional barriers. Currently, in my role as an international financial advisor and dealing with Bitcoin mining, I see enormous potential in digital finance to democratize access to investments, making them more inclusive and dynamic. Furthermore, the new finance is accessible to everyone, allowing you to start with very low amounts. However, the quality of information and the support of specialized operators are crucial to protect yourself from risks and fully exploit the opportunities offered. This evolution not only transforms the financial landscape, but also opens up new opportunities for a more equitable and innovative future.
What is in a few words Bitcoin mining and what role does it play in the cryptocurrency ecosystem?
Bitcoin mining is the process by which new units of the cryptocurrency are generated and released into the network. Miners use specialized hardware to solve complex mathematical problems, which allows new blocks to be added to the Bitcoin blockchain. This process is essential for the security and decentralization of the network, as it makes it difficult for any single actor to manipulate transactions or compromise the integrity of the blockchain.
Here's a video showing Life Miner project development:
What are the main economic benefits associated with Bitcoin mining and how can they be exploited by investors? The main economic benefits of Bitcoin mining include the possibility of obtaining new coins as a reward for the work of validating transactions and the potential increase in the value of Bitcoin itself over time. Investors can benefit from mining through investing in high-quality hardware, joining mining pools to stabilize earnings, and implementing strategies to reduce operating costs, such as using renewable energy sources.
What are the main environmental challenges related to Bitcoin mining and how can they be addressed effectively, especially in a context like that of Paraguay? The environmental challenges related to Bitcoin mining include high energy consumption and carbon emissions. In Paraguay, these challenges can be effectively addressed thanks to the availability of hydroelectric energy, which is a renewable energy source with low environmental impact. Using hydroelectric power significantly reduces the carbon footprint of mining, making operations more sustainable.
How are emerging technologies transforming the Bitcoin mining industry, making it more efficient and sustainable?
Emerging technologies are transforming Bitcoin mining through the introduction of more advanced hardware, such as next-generation ASIC chips, which are more energy efficient. Furthermore, the adoption of innovative cooling solutions and the use of artificial intelligence to optimize mining operations are helping to reduce the environmental impact and increase the sustainability of the sector.
What are the key differences between Bitcoin production and distribution, and why is it important to focus on production?
Bitcoin production, or mining, is about creating new coins and validating transactions, ensuring the security and integrity of the network. Bitcoin distribution, on the other hand, refers to the exchange and circulation of existing coins among users. Focusing on production is crucial because it keeps the network secure and decentralized, while distribution relies on a stable and secure network to function effectively.
Which strategies can Bitcoin miners adopt to ensure maximum transparency and security in their operations? To ensure transparency and security, Bitcoin miners can adopt different strategies, such as the use of blockchain technologies that make every transaction traceable and verifiable. Furthermore, participating in reliable mining pools and adopting advanced security measures, such as the use of firewalls, data encryption and continuous monitoring of mining activities, are crucial. Transparency can be further improved through regular audits and the publication of operational reports.
How can entrepreneurs and investors contribute to and benefit from the Bitcoin mining industry in a long-term perspective?
Entrepreneurs and investors can contribute to the Bitcoin mining industry by investing in innovative and sustainable technologies, creating efficient infrastructure, and collaborating with other companies to develop renewable energy solutions. In the long term, they can benefit through participation in projects that aim to reduce operational costs and increase profitability, as well as by diversifying their investments in the cryptocurrency sector to mitigate risks.
What future development opportunities do you see in the Bitcoin mining sector and how can investors prepare to seize them?
Future development opportunities in Bitcoin mining include adopting more efficient and sustainable technologies, expanding into new regions with access to renewable energy sources, and improving cooling techniques to reduce operating costs. Investors can prepare for these opportunities by staying current on technological innovations, investing in research and development projects, and partnering with industry leaders to leverage synergies and optimize operations.
How does the Life Miner project in Paraguay manage to combine the efficiency of Bitcoin mining with a sustainable approach and what are its advantages compared to other operators in the sector?
Life Miner chose Paraguay for its Bitcoin mining operations due to the availability of renewable hydroelectric energy, which significantly reduces the carbon footprint. By using clean energy and implementing advanced energy efficiency technologies, Life Miner manages to combine efficient mining with a sustainable approach. This approach not only reduces operating costs, but also makes Life Miner an industry leader in sustainability, offering competitive advantages over other operators using more polluting energy sources.
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
There is a new way to bridge the difference between fiat money and cryptocurrencies. Transak, a Web3 payments provider, has made an agreement with blockchain development platform Cometh to introduce a simplified fiat money to Layer three (L3) onboarding solution. This new system supposedly makes it easier to purchase crypto assets directly on Cometh's L3 blockchain, Arbitrum Orbit.
According to the company's announcement, the integration allows users to purchase ethereum (ETH) on Muster, Cometh's Arbitrum Orbit platform, without having to manage crypto tokens and gas tokens.
By automating interactions directly via Transak One and Cometh's Web3 development platform smart contracts, the solution eliminates the need for intermediate steps such as token bridging, significantly reducing transaction times.
Before this system, users needed to create a multi-step process involving purchases on a Layer 2 solution and subsequent bridging on Muster. A complicated and time-consuming model. "Transak says users can now directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) markets and other blockchain interactions much faster" - Bitcoin.com reported.
According to Steven Goldfeder, co-founder and CEO of Arbitrum development company Offchain Labs, the collaboration “simplifies the user experience, unlocks the potential for mainstream adoption, and showcases the power of building innovative solutions on Arbitrum’s scalable infrastructure".
SOURCE: Bitcoin.com
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
The Abu Dhabi Agriculture and Food Safety Authority has told local farmers that their farms cannot be used as a site for crypto-mining. The Abu Dhabi Agriculture Authority has issued a notice banning cryptocurrency mining on farms. The UAE government body stated that this activity is considered "an improper use of the farm for purposes other than those intended." Furthermore, anyone caught violating this law would face fines of up to 10,000 dirhams, equivalent to approximately $2,700.
Cryptocurrency mining is a process that enables users to earn crypto-assets by confirming transactions on blockchain networks that use a Proof-of-Work (PoW) consensus mechanism. In this system, miners compete to solve extremely complex mathematical puzzles, a process that requires substantial computational power and energy. These puzzles are integral to validating and securing transactions on the network. Once a miner successfully solves a puzzle, they add a new block to the blockchain and are rewarded with a specific amount of newly minted cryptocurrency. This reward incentivizes miners to continue contributing their computational resources to maintain the network’s security and integrity.
Although cryptocurrency mining is prohibited on farms, the UAE is generally a crypto-mining friendly jurisdiction. In fact, data from 2023 shows that the UAE's Bitcoin mining capacity was approximately 400 megawatts, which accounted for about 4% of the global hash rate. This indicates a significant presence in the global cryptocurrency mining industry, reflecting the UAE's supportive stance towards this activity.
The technological acceleration of this historical moment has a pervasive socio-economic impact and is changing technological and cultural paradigms, involving the production system in all its forms. Those who produce, those who transform, those who distribute, those who sell and those who consume are increasingly brought together thanks to the infosphere.
Agriculture and technology, two apparently distant worlds, are in reality profoundly interconnected.
Complex technology such as blockchain can have various areas of application in the agrifood world:
SOURCE: CoinDesk
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Address poisoning is a type of attack aimed at holders of cryptocurrencies. It's a kind of attack where someone watches a blockchain for transactions, then sends a small amount of crypto to an address that looks very similar to the original one.
Address poisoning can indeed be a significant concern in the crypto space. It's a form of phishing attack where attackers try to trick users into sending funds to a fraudulent address by creating one that looks very similar to a legitimate one. This is often done by making slight modifications to the characters or using visually similar characters.
For example, they might change a lowercase "L" to an uppercase "i" or add an extra character that's hard to notice at a glance. Unsuspecting users might not notice the difference and end up sending their funds to the attacker's address instead of the intended recipient.
To mitigate the risk of falling victim to address poisoning, users should always double-check the addresses they are sending funds to, preferably by using copy-and-paste rather than typing them manually. Additionally, using hardware wallets or wallets with built-in address verification mechanisms can provide an extra layer of security. It's also essential for crypto users to stay informed about common phishing tactics and remain vigilant when conducting transactions.
Address poisoning is quite a tricky issue in the crypto space. This attack involves the creation of a crypto address that looks like the original one by attackers, with the aim of deceiving the owner of the original address, inducing him to make a transaction to the wrong address.
Address poisoning takes advantage of the fact that many cryptocurrency transactions and wallets have long strings of characters that are difficult to verify at a glance.
In fact, attackers changes only a few characters in the middle. The goal is to deceive the user, pushing him to send funds to the wrong address during copy and paste.
To protect your wallet from Address Poisoning there are several good practices to follow:
Final Considerations
By taking proactive measures to protect your transactions and informing yourself in advance about potential risks, you can significantly reduce the risk of falling victim to such attacks. By adopting these proactive measures and staying vigilant, individuals can better safeguard their crypto transactions against address poisoning and other malicious activities.
READ ALSO ---> "Is Disney back in the metaverse?" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
More than a year and a half after the FTX exchange's bankruptcy a new proposal to repay victims of the 2022 crash, was unveiled. FTX now promises to refund all creditors and says the plan is "subject to finalization and approval" by the U.S. Bankruptcy Court for the District of Delaware. Some experts say that may not be enough.
FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors recover 118% of their claims - in cash - within 60 days of court approval, according to new documents filed Tuesday evening, shared also by Coindesk.
FTX's available assets would now be between 14 and 16.3 billion dollars, thanks to the intense fund recovery activity through the liquidation of collateral (and non-collateral) assets of the company.
Only creditors who hold claims of less than $50,000 will be entitled to the 118% recovery.
According to FTX's plan, other non-government creditors will recover 100% of their claims plus interest of up to 9% to compensate them “for the time value of their investments.” The deal is still subject to approval by the Delaware bankruptcy court overseeing the bankruptcy case. The proposed payments are higher than previous estimates from FTX Assets, which in October said it expected to repay only 90% of client funds.
From the creditors side, the conditions are not so positive. Wired reported that "some creditors of the bankrupt crypto exchange FTX are preparing to reject a plan that would see them recover 118 percent of the money they lost. The proposal is far less generous than it might seem, they claim".
SOURCE: Coindesk, Wired
READ ALSO ---> "Is Disney back in the metaverse?" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Binance founder has been sentenced for 4 months in prison. The cryptocurrency trading platform created in 2017 by Changpeng Zhao said to be ready to cover at all costs.
Binance founder Changpeng Zhao was sentenced to four months in prison for putting profits before the law. The company was found guilty of unintentionally helping to finance several criminal activities around the world. Zhao, who is 47 and has a personal fortune of nearly $40 billion, pleaded guilty on the last day of April and will now have to spend several months in prison in the United States, as well as pay large fines.
"The sentence, handed down in a US federal court in Seattle, is far lighter than the three years prosecutors had argued for" - CNN journalist Allison Morrow says
“Words cannot explain how deeply I regret my choices that result in me being before the Court,” he said in a letter to the judge. “Rest assured that it will never happen again.”
CNN also reported that Binance agreed to pay more than $4 billion in fines and other penalties as part of a coordinate settlement with the federal government last fall. The company admitted to engaging in anti-money laundering activities, unlicensed money transmitting and sanctions violations.
Zhao according to Bloomberg, agreed to step down as CEO and pay $200 million in fines.
SOURCE: Binance.com, CNN News
READ ALSO ---> "Is Disney back in the metaverse?" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Bitcoin is ready to open another chapter. For the most popular cryptocurrency, born in 2009 from the idea of a programmer who calls himself Satoshi Nakamoto is coming a new important revolution: the fourth halving. The halving established by the four-year cycle of the asset will inevitably change its acquisition and use methods. In fact, a halving of daily emissions is expected: 6.25 Bitcoins will no longer be created for each block of transactions, but 3.125. With very important consequences.
The halving involves a decrease in the creation of Bitcoin, which from today goes from 900 to 450. The cryptocurrency therefore becomes increasingly scarce, in other words it can be said it will become "a more scarse than gold", said SkyTg 24.
The price of Bitcoin now stands at around $64,500, close to the record recorded in November 2021, before the new peak reached last month, triggered precisely by the wait for the halving appointment . The halving will inevitably define new balances, especially in the medium and long term. As always, we encourage you to weigh every decision, not based solely on short-term forecasts. Looking back, after each Halving we have witnessed an impressive growth in the value of bitcoin.
SOURCE: SKYTG24
IMAGE CREDITS: André François McKenzie
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
