Paolo Ardoino was the chief technology officer at Bitfinex and Tether. He spoke about the Plan B Lugano strategy and Tether as an access point into Bitcoin (BTC). And, of course, his favourite pizza toppings.
Just as Ardoino landed in Norway, Ardoino explained that there was no “shilling”, unlike the WEF.
Tether was invited by Oslo Freedom Forum to speak because the stablecoin has become increasingly “instrument of freedom” and has been adopted in Myanmar. The Ukrainian government has also accepted crypto donations including Tether since the beginning of the Russia-Ukraine conflict.
“Tether” is one tool that can be used by countries in distress where their national currency has been devalued – people who want to fight insane inflation.
Ardoino gives two examples: Turkey and Argentina. The Turkish lira lost 50% of its purchasing power, and crypto, which is often used as a hedge against uncertain currencies, is currently experiencing a second wave in interest. Ardoino also acknowledged that:
“Bitcoin’s great, but people want price stability, long-term price stability. […] “Bitcoin can be used for many purposes, but is not understood by many.”
Concerning the Plan B strategy of Lugano where Bitcoin and Tether can be de facto legal tender, Ardoino said that educational models from Switzerland are being transferred to El Salvador.
“Bitcoin can be used by everyone. There are people in poor countries who need Bitcoin to provide basic financial infrastructure. You can also have the country with the largest number of banks in the world and still require Bitcoin.
Similar: Tether launches a crypto- and blockchain education program for Switzerland
Ardoino also criticized Satoshi Nakamoto’s selection of pizza toppings. Bitcoin Pizza Day was observed the day before the WEF. This day saw Bitcoiners all over the world eat pizza and try to pay with Bitcoin. Satoshi Nakamoto was the creator of Bitcoin. He loved pineapple and jalapenos when he ate pizza. Ardoino said that “nobody’s perfect”.