One Italian copyright authority known as the Italian Society of Authors and Publishers (SIAE) has recently teamed up with Algorand in order to develop a new copyright management ecosystem on the blockchain. The system will be based on Algorand’s newly launched blockchain platform which was viral in the cryptocurrency news before.
SIAE had already started developing this project with the help of the University of Rome “La Sapienza” and the consulting company Blockchain Core. The Italian copyright authority has now decided to focus on the Algorand platform for its design public nature along with its high performance.
Meanwhile, Algorand is known for using a pure Proof-of-Stake (PoS) protocol which guarantees decentralization, scalability as well as security. All of this make the company perfectly suitable for handling the swarm of metadata and transactions that are necessary in copyright management. Both Algorand and the Italian copyright authority are now enthusiastic and overly confident about improving the copyright management industry thanks to blockchain technology.
The blockchain latest news today also show that the collaboration will strengthen the industry as well as its tools and services. Its main goal is to create new, more open and more accessible products, ramping up the efficiency of intermediation services.
The head of the Italian copyright authority SIAE, Gaetano Blandini, has further explained and described the main goals of the initiative, stating:
“To explore the opportunities offered by technology, to imagine a future of solutions that guarantee greater efficiency and transparency to our members […] Our collaboration with Algorand is part of a process of synergy and cooperation with major players in the fields of research and innovation, both on a national and on a global scale. Together we continue to write a story that began 137 years ago and that today embraces the future.”
The founder of Algorand, Professor Silvio Micali, also talked about the collaboration with the Italian copyright authority and noted:
“The collaboration between technology providers and companies projected into the future, such as SIAE, paves the way to great opportunities for progress towards economic models that promote inclusiveness, transparency, and frictionless transactions. I am honored by the fact SIAE selected the blockchain developed by Algorand, making it the backbone of its new initiative. I will be thrilled to witness the creation of these solutions, supported by the performance and features we implemented in Algorand 2.0.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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