Circle888 - According to a statement released on Dec. 13, Algorand has been ''selected to be the public blockchain that will support an innovative digital guarantees platform in Italy.'' CETIF, the Research Center on Technologies, Innovations and Finance in Italy, is leading an effort to develop a blockchain-based platform to serve the needs of Italy's banking and insurance markets.
This is the first time an EU member state will enable the use of blockchain tech for bank and insurance guarantees. Algorand is the only network this initiative uses.
Federico Rajola, professor at CETIF, said, ''We selected Algorand because of its unparalleled level of innovation and security among permissionless DLTs, as well as because of its leadership in sustainability.''
The platform is set to be launched in early 2023.
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