DFINITY Foundation Partners with the Municipality of Lugano, Switzerland, Offering a $1M Fund for Blockchain Startups

The DFINITY Foundation, a non-profit organization focused on research and development for blockchain technology, has announced a partnership with the Municipality of Lugano in Switzerland. As part of this collaboration, the Foundation has also launched a $1 million grant fund to support startups in Lugano that are working to enhance and build on the Internet Computer blockchain.

The grants will be awarded to developers in Lugano who utilize the unique capabilities of the Internet Computer and develop open internet services that can benefit the global community. They are particularly encouraged to integrate ckBTC, a multi-chain Bitcoin “twin” that is secured with real Bitcoin, into their projects.

This partnership aligns with Lugano’s broader plans to foster blockchain development in the city. These plans include the launch of the MyLugano crypto-payment app, widespread adoption of cryptocurrencies locally, and the establishment of numerous blockchain companies in the city.

Lugano supports payments in LVGA, Bitcoin, and Tether, which have been declared as “de facto” legal tender by the city. This means that citizens can use these digital currencies for purchases at over 400 local businesses, earn cash back rewards, and progressively pay fees and taxes to the city administration.

As part of the collaboration, the MyLugano app, developed by NOKU, has undergone a major update. With the update, the app now offers a multi-chain, multi-wallet solution, allowing more experienced users to manage assets from various blockchains within the app. This includes managing Internet Computer’s blockchain infrastructure and ckBTC.

Dominic Williams, the Founder and Chief Scientist of the DFINITY Foundation, expressed his excitement about the partnership and stated that the Internet Computer acts as a Layer 2 for Bitcoin, enabling smart contracts on the platform to hold, send, and receive Bitcoin seamlessly.

The collaboration between the DFINITY Foundation and the Municipality of Lugano is expected to drive innovation in blockchain technology and further establish Lugano as a hub for blockchain development. The grant fund will provide crucial support to startups in the city, enabling them to explore the potential of the Internet Computer and contribute to the global blockchain ecosystem.

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