Today, a partnership was signed between the Fondazione Ugo Bordoni and the Algorand Foundation, enabling the FUB to use the blockchain platform.
During the European Blockchain Partnership Policy Group, in Milan, the parties signed the agreement with the FUB, which is part of the Ministry of Economic Development.
An all-Italian partnership, given that the creator and founder of the Algorand blockchain is the Italian Silvio Micali.
It is interesting to note that the Algorand blockchain uses the PPoS (Pure Proof of Stake) protocol, which aims to solve the famous “blockchain trilemma”, i.e. the possibility of having at the same time scalability, decentralisation and security.
A partnership that also demonstrates Italy’s commitment towards these new technologies, the blockchain and not only, as confirmed by the Undersecretary of the Ministry of Economic Development, Mirella Liuzzi:
“The signing of the agreement between the FUB and the Algorand Foundation, signed at the Milan meeting of the European Blockchain Partnership of which Italy is co-president, once again confirms the international role assumed by our country on the subject and the attention of the MiSE towards emerging technologies such as the Blockchain also through the promotion of technical-scientific synergies on the subject”.
The partnership will obviously focus on experimenting with the Algorand blockchain in order to use it as a basis for building different structures that can be used in the field of services for citizens, business and public administration.
In fact, the Algorand blockchain allows the implementation of smart contracts, which can be developed and upgraded to be used in different sectors. The technology, according to the President of the Fondazione Ugo Bordoni, Antonio Sassano, can also be further developed thanks to 5G.
“Fondazione Ugo Bordoni is intensely committed to supporting and implementing the activities of 5G, in the investigation of the potential of Artificial Intelligence and in the design and management of digital networks and services for the PA, for citizens and the country. Studies and experiments that have clearly revealed the synergistic role of these new technologies and the need to develop an efficient and secure “distributed trust” infrastructure. To this end, blockchain technology appears to offer the best guarantees in terms of security, integrity and ownership of the data produced by the Internet of Things.”