As a seasoned analyst with over two decades of experience in the tech and finance industries, I find Blockstream’s latest move to establish an R&D hub in Lugano, Switzerland, not only strategic but also a testament to the growing maturity and acceptance of Bitcoin and blockchain technology. Having closely followed the evolution of blockchain since its inception, I am particularly impressed by Blockstream’s commitment to fostering innovation around Bitcoin, especially with initiatives like the Liquid and Lightning networks.
According to CoinDesk’s report, the Bitcoin and blockchain technology company Blockstream has established a research and innovation center in the city of Lugano, Switzerland.
Blockstream, a significant player in Bitcoin (BTC) infrastructure development, revealed on November 7th that they’re establishing a Research & Development (R&D) hub. This venture aims to strengthen the advancement of financial technology related to Bitcoin. Meanwhile, Tether and Lugano City have unveiled a statue dedicated to Satoshi Nakamoto, the creator of Bitcoin, in Lugano.
To clarify, this project is crucial for the company, which is headed by Adam Back, a renowned British cryptographer and one of the pioneers in Bitcoin, as it pertains to the functioning of Bitcoin’s Liquid and Lightning networks.
Our latest hub focuses on boosting creativity within Layer 2 through partnerships with local entrepreneurs and organizations. We offer support in the form of resources, guidance, and even funding for promising initiatives.
-Blockstream.
After participating in Bitcoin-related events held in Lugano and Viareggio, Italy, Blockstream has now officially launched its Research and Development (R&D) hub.
Significantly, Blockstream’s project aimed at enhancing the wider Bitcoin financial landscape has been recently launched, following their successful acquisition of $210 million in debt financing to foster the development of layer-2 Bitcoin technologies. Additionally, these funds were intended for increasing their BTC reserves and improving their bitcoin mining infrastructure.
In August 2023, the firm revealed plans to raise $50 million for its crypto mining venture.
Before now, Blockstream had garnered $125 million in funding back in January 2023, which they aimed to use primarily for the growth of their mining colocation services. They subsequently introduced Liquid Network, a system designed for settlements between exchanges, market makers, and brokers, in September 2018.
The company’s wallet Blockstream Green allows users to hodl their BTC.
With the desktop version, one can track prices, monitor fees, and organize UTXOs. Greenlight by Blockstream is another platform that helps developers to easily integrate non-custodial BTC payments in their apps.
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2024-11-07 20:48