It has been analyzed that SIAE had already started to develop the project, with the help of “La Sapienza” the University of Rome, and Blockchain Core, the consulting company. Now, SIAE has decided to focus on the Algorand platform for its by design public nature and its high performance.
However, Algorand uses a pure Proof-of-Stake (PoS) protocol that guarantees decentralization, scalability, and security, making it particularly suitable for handling the swarm of metadata and transactions necessary in copyright management. Both Algorand and SIAE are confident that in the near future, blockchain technology will become the cornerstone of the industry.
This collaboration will make it possible to evolve and strengthen copyright management tools and services, ultimately creating new, more open and accessible products, further improving the efficiency of intermediation activities.
Gaetano Blandini, the General Manager of SIAE, explained:
“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.”
Also, Professor Silvio Micali, the winner of the Turing Prize and Founder of Algorand, said:
“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.”