Italian Copyright Authority Replaces Hyperledger With Algorand

Algorand and the Italian Society of Authors and Publishers (SIAE) have joined forces to develop a new network for copyright management, the companies announced in a press release. Recently launched blockchain platform, Algorand, is the base for the copyright management system.

After starting a previous project with the advice of La Sapienza University of Rome and consulting firm Blockchain Core, employing Hyperledger, SIAE decided to focus on Algorand for this one. This is owed to the fact that it’s a high performance decentralized platform.

“The world is evolving, but the founding mission of the Italian Society of Authors and Publishers, the protection of creativity, does not change,” said SIAE general manager Gaetano Blandini. “Our collaboration with Algorand is part of a process already started and is aligned with research and innovation on a national and global scale.”

Algorand is fit for handling the numerous metadata and transactions necessary for copyright management because it’s an authentic Proof-of-Stake protocol that assures security, scalability, and decentralization.

SIAE and Algorand are congruent that blockchain technology will be a keystone of the industry in the coming future.

This teaming up makes it possible to develop and fortify copyright management tools and services, eventually creating new, more open and accessible products. This further improves the efficiency of intermediation activities.

The following are the goals of SIAE according to Blandini:

• Explore opportunities offered by technology.
• Provide a future of solutions that guarantee greater efficiency and transparency to members.
• Synergy and cooperation with major players in the fields of research and innovation.

Commenting on the partnership with SIAE, Silvio Micali, the founder of Algorand, said:

“Collaboration between technology providers and forward-thinking organizations such as SIAE opens up vast opportunities for progression towards new economic models that promote inclusivity, transparency, and frictionless transactions.”