The Italian Society of Authors and Publishers (SIAE) has reportedly forged a partnership with Algorand, to utilize its freshly rolled out blockchain network for designing a copyright management-focused ecosystem.
SIAE has previously initiated and putting in work for the project, along with the support from “La Sapienza” University of Rome and consulting firm Blockchain Core. SIAE now plans to shift its resources on the Algorand platform, mainly for its by design public nature and its efficient performance.
Algorand employs a pure Proof-of-Stake (PoS) protocol, which ensures decentralization, scalability, and security standards are met, turning it into the ideal tool for processing the abundant amount of metadata and transactions normally occur in copyright management.
Both Algorand and SIAE believe in the prospect of blockchain being the foundation technology for the future scene of the industry.
The partnership will also help further growth and evolvement of copyright management tools and services, which potentially give way for the birth of products, newer, more open and easier to access, ultimately make intermediation activities more efficient.
“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.” Gaetano Blandini, General Manager of SIAE, shared his remarks.