The fees and copyright of musicians drove into a blockchain

At the beginning of December, 2019 the Italian society of authors and editors (SIAE) announced cooperation about a blockchain company of Algorand which developed the platform on control of copyright and the fees.

The SIAE association was founded in Milan in 1882 and annually produces more than 1.2 million licenses to use of the works protected by copyright thereby guaranteeing to authors and publishers payment of the corresponding fee. Now control of the used data and transactions of licenses will be fixed on the Algorand blockchain platform. Earlier the organization already tried to create the similar project in cooperation with the Roman university La Sapienza and a startup of Blockchain Core in which the Hyperledger technology was used.

The Italian society of authors and editors (SIAE) announced cooperation about a blockchain company of Algorand which should develop the platform on control of copyright and the fees

Now SIAE works with Algorand to use recent updating of the protocol. Developers claim that they improved capacity of the distributed applications of a blockchain thanks to the Proof-of-Stake (PoS) system which, according to SIAE, in the best way is suitable for processing of a large number of the transactions and metadata necessary for management of copyright.

Algorand and SIAE note that they lay the foundation for application of a blockchain in copyright industry. Such cooperation between suppliers of technologies and the organizations for copyright protection opens ample opportunities for promotion to new business cases. The blockchain will increase efficiency of interaction of participants of a system at the international level as does not require participation of intermediaries at royalty payment. Besides, a new system will provide necessary reliability and transparency which will allow to confirm authorship at emergence of disputes.^[1]

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