Silvio Micali, Founder, Algorand

Silvio Micali has received his Laurea in Mathematics from the University of Rome, and his PhD in Computer Science from the University of California at Berkeley. Since 1983, he has been on the faculty of the Electrical Engineering and Computer Science Department at MIT. Silvio’s research interests are cryptography, zero knowledge, pseudo-random generation, Byzantine agreement, secure protocols, mechanism design, and distributed ledgers.

Silvio is the recipient of the Turing Award (in computer science), the Gödel Prize (in theoretical computer science), and the RSA prize (in cryptography). He is a member of the National Academy of Sciences, the National Academy of Engineering, of the American Academy of Arts and Sciences, and of the Academia dei Lincei. Silvio is the founder of Algorand Inc. Algorand is a new foundational blockchain, developed from scratch, on totally new principles, which simultaneously guarantees true decentralization, scalability, and security.

2023

Silvio Micali does not rule out working with government securities in the future. Speaking outside the Ambrosetti Workshop, he said, “We are very pleased that the Bank of Italy is looking ahead; the rules will assist us.”

He said, “I think we are heading in the right direction,” in reference to the law on distributed ledger technology (DLT). “We are very open,” he says, “and we are meeting with institutions to demonstrate what our technology can do.” “A democratic government,” according to him, “should not shy away from a public blockchain, which is the best way to provide transparency, security, and transaction speed while lowering costs.” “From public procurement to tokenizing treasury bonds,” he points out, “there are many things to do.”

“We have had meetings with the Ministry of the Treasury,” he concludes, “and we are thinking about the efficiency that a platform where treasury bonds are tokenized can achieve, issued on a public blockchain, with a sale of 10 million taking place in three and a half seconds for a cost of 1 cent and in absolute security.”

Latest news about Silvio Micali

• Napster, a music streaming service, is aiming to apply Web3 technology to its business model, aiming to increase interaction in the music community and establish a decentralized music ecosystem. The Napster Innovation Foundation will issue $NAPSTER tokens on the Algorand blockchain, aiming to empower fans, music makers, and rights holders. The tokens will be used for subscriptions, exclusive content rights, artist presales, Napster incentive programs, and premium feature access. Napster is not the only legacy music company entering Web3 technology, with Spotify also testing NFTs for music artists.
• Crypto investment firm Hivemind has partnered with Algorand to acquire music streaming service Napster, aiming to turn the platform into a Web3 property. The acquisition is expected to revolutionize the music industry and unlock value for the entire ecosystem. Napster, founded in 1999, had 80 million users at its peak but was liquidated in 2002. The new Napster will be owned by MelodyVR, a virtual reality concert app.

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