December 10, 2019 by Clementine
The Italian society SIAE intends to revolutionize the management of rights of authors, thanks to the Blockchain Algorand. This initiative would aim to establish “forward-looking solutions that ensure greater efficiency and transparency to our staff,” highlight the initiators of the project.
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A project for the future
According to a news release, the Italian society of Authors and Publishers (SIAE) wants to develop an ecosystem Blockchain dedicated to the management of rights of authors through his work with Algorand.
The company Blockchain SIAE, is a public institution which guarantees to authors an appropriate remuneration for the use of their works. Each year, the company distributes more than 1.2 million licenses for the use of a work protected by copyright. Now, SIAE intends to process all transactions necessary to the management of copyright based on the Blockchain Algorand (including the issuance of licenses).
“ I am honored that SIAE has chosen the Blockchain Algorand to serve as a backbone to its new initiative and I look forward to see their solutions implemented with the performance and features of Algorand 2.0.”, commented Silvio Micali, the founder of Algorand.
The Blockchain Algorand
Algorand would be particularly suited to the management of rights of authors. In fact, the Blockchain is a protocol of proof of interest (PdS), which guarantees the decentralization, scalability, and data security.
“Our collaboration with Algorand is part of a process of synergy and cooperation with major players in research and innovation, to a national and global scale, to explore the opportunities offered by the technology, to imagine a future of solutions that guarantee greater efficiency and transparency to our members,” said the company SIAE.
A few hours after the announcement of the partnership, the price of the Algo, the currency native to Algorand has increased by 12.2%.
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Clementine
Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.