Blockstream, a leading Bitcoin infrastructure and blockchain technology company, has announced the launch of its new research center located in Lugano, Switzerland.
This new research and development center, which was installed in one of the most Bitcoin and cryptocurrency-friendly cities in the world, is designed to accelerate the creation of innovative solutions based on Bitcoin's Layer 2, focusing primarily on scalability solutions. Liquid Network y Lightning Network.
In a recent statement, Blockstream detailed that this new center opened its doors to foster collaboration with local partners and startups. It also noted that, in addition to consulting, the Bitcoin Layer 2 R&D center will dedicate resources to building innovative solutions based on the Liquid and Lightning networks. In total, the center will allocate grants of 10.000 Swiss francs, equivalent to about $11.300, to promising projects in this sector.
The launch of this hub aligns with the company’s commitment to fostering the growth and adoption of Bitcoin and blockchain technology in Europe, where it has been actively engaged with the community of developers and innovators.
Financial products: The core of Blockstream's new research center
Blockstream's new blockchain R&D center aims primarily to foster the development of financial products that leverage Bitcoin's Layer 2 capabilities. According to the release, the Liquid Network and Lightning Network networks allow Bitcoin transactions to be carried out faster and more securely. In addition, in the case of the Liquid Network, this network also encourages the adoption of new use cases for Bitcoin, such as asset tokenization, which represents a significant opportunity for traditional financial institutions looking to modernize their operations with blockchain technology.
By collaborating with local startups and other partners, Blockstream hopes to create a robust ecosystem that will empower Bitcoin and blockchain innovation in the financial space.
Blockstream CEO Adam Back highlighted his enthusiasm for building new solutions on Bitcoin’s Liquid and Lightning networks and providing resources and support to accelerate the development of these technological innovations. Back emphasized the creation of financial products that can benefit traditional sector businesses in the city.
“This initiative reinforces Blockstream’s dedication to innovation in the financial sector, particularly in Switzerland, a global hub for traditional finance and emerging blockchain technologies.”, the company reported.
Blockstream and the Build On L2 community
A key aspect of this new project is the cooperation with Build On L2, an online community of developers focused on Lightning Network and Liquid Network. According to the company, this collaboration will be crucial for the success of the new blockchain research and development center.
The Build On L2 community has seen significant growth, with thousands of members and hundreds of students enrolled in the Elements Academy. It has also provided significant financial support, including $150.000 for the integration of the Validating Lightning Signer (VLS) into Greenlight, an open-source project that improves Lightning Network applications across a variety of platforms.
On the other hand, Blockstream has also demonstrated its commitment to the European blockchain developer community by organizing events such as the Liquid Developer Bootcamp in Italy, where more than 20 developers acquired practical skills to create innovative blockchain solutions. This program not only focused on technical aspects such as interoperability on Bitcoin’s Layer 2, but also connected participants with members of the Liquid Federation, opening doors to job opportunities.
