SIAE chooses Blockhain Algorand to protect copyright

The Italian Society of Authors and Publishers (SIAE), the leading Italian copyright collection agency founded in 1882, and Algorand, a leading blockchain platform dedicated to the homogenization of innovative and ordinary finance, announce the first important milestone of a project to create an open DLT platform that allows a transparent and efficient management of authors' rights.

The two organizations have been working together since 2019 and for the first time, copyrights are represented as digital assets. The history of SIAE begins 139 years ago and today, with Algorand, the organization embraces a future enhanced by technology to continue its mission to protect the creativity of its users. Now he has decided to do it through the use of innovative technologies.

This week, more than 4 million NFTs (Non Fungible Tokens) have been created that will digitally represent the rights of the more than 95,000 SIAE member authors. NFTs, a type of digital asset registered on the blockchain, will therefore be used for the first time to represent the copyright of SIAE members. The digitization of these rights on a decentralized and transparent public blockchain is the first requirement to build an open infrastructure capable of end-to-end copyright protection, as envisaged by SIAE for the future of the sector.

“Guaranteeing the protection of creativity has been SIAE's mission for 139 years, and this project demonstrates that our goal is to continue to guarantee it for the next 139 years”, said Gaetano Blandini, SIAE's General Manager. “We are not interested in building technological infrastructures to generate profit. Instead, our goal has been and always will be to create added value for our members. This is why we can afford to talk about open infrastructures and make all our know-how available to the community. Blockchain technology is certainly an interesting trend to continue to be explored due to its characteristics of transparency and efficiency – by design – fundamental for those who, like us, manage the salary of the hard work of others ".

The creation of these unique digital resources is the first step towards even more ambitious goals, allowing a more transparent and efficient management of the rights themselves, in their path between those who use the right (those who listen to music, for example) and those who perceive their rights. economic return, the creators of music. In the future, the role of intermediaries in the content and rights management ecosystem will fundamentally change. SIAE, a non-profit organization that truly belongs to the authors, can and will facilitate the transition to new blockchain-based platforms that will rapidly and profoundly change business models for many other intermediaries in rights and content management. A big step forward for the SIAE, often accused of being extremely inefficient and not so much in the interests of its members, but rather that of the bureaucratic machine and, above all, always considered extremely onerous.

The project provides for a blockchain that is open and accessible to all, and it is an Italian project with potential international membership. Copyright management is a global topic and blockchain-based solutions are scalable for wide adoption. To benefit everyone in content creation and the consumer ecosystem, all global copyright collection agencies must strive for mass adoption, in a phased approach. SIAE intends to share the results of its project with the wider community to accelerate a truly decentralized management of these metadata, which is fundamental for an accurate and transparent management of rights. In this way we would quickly arrive at a truly decentralized management of these metadata, which are fundamental for a correct and transparent management of rights. The system is also already designed – in a vision of true open decentralization – to be able to transfer the management directly to the holders of the rights, who will then be able to directly manage the metadata relating to their rights.

At this point the authors will be able to consider themselves truly owners of the rights of their works, with minimal intermediation and the possibility of freely exchanging them.

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The article SIAE chooses Blockhain Algorand to protect copyright comes from ScenariEconomici.it .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/siae-sceglie-la-blockhain-algorand-per-tutelare-i-diritti-dautore/ on Mon, 05 Apr 2021 07:00:41 +0000.