Italian Copyright Authority, Algorand to Establish Blockchain Ecosystem for Copyright Management

The Italian Society of Authors and Publishers (SIAE) has collaborated with Algorand to build up a new ecosystem for copyright management, based on Algorand’s recently introduced blockchain platform.

SIAE had earlier began to build up the venture—with the assistance of “La Sapienza” University of Rome and consulting firm Blockchain Core. SIAE has now chosen to concentrate on the Algorand platform for its by design public nature and its high performance.

Algorand utilizes a pure Proof-of-Stake (PoS) protocol that ensures decentralization, security, and scalability, making it specifically appropriate for the handling of the swarm of metadata and transactions essential in copyright management. Both Algorand and SIAE are certain that soon, blockchain innovation will turn into the cornerstone of the industry.

This joint effort will make it possible to strengthen and evolve copyright management instruments and administrations, ultimately making new, more open and accessible items, further enhancing the effectiveness of intermediation activities.

SIAE General Manager Gaetano Blandini clarified the objectives of the activity:

“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.”

Turing Prize winner and Algorand author Professor Silvio Micali likewise said of the joint effort:

“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.”