NewsGeneralAlgorand Foundation partners with Politecnico di Milano, the University of Stirling and Cefriel to support Emergency Finance project on programmable money

Algorand Foundation partners with Politecnico di Milano, the University of Stirling and Cefriel to support Emergency Finance project on programmable money

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Algorand Foundation

Milan, August 30th, 2022 - Algorand Foundation is proud to support the Emergency Finance (EmFi) project coordinated by the QFinLab of the Politecnico di Milano, in collaboration with Cefriel and the University of Stirling in Scotland. EmFi aims to create a special-purpose virtual currency for the Covid-19 socio-economic emergency in Italy. Partners of the project coordinated by Prof. Emilio Barucci and Prof. Daniele Marazzina are the Italy-based research center Cefriel and the group led by Dr. Andrea Bracciali at Stirling University in Scotland, which looks at the technical aspects of the project.

“The project focuses on the idea of transparent, digital and programmable money, i.e. digital money or assets whose behavior and properties can be ‘programmed’ to best fit different purposes. Happy to put the most novel developments in blockchain technologies at the service of social good for the city of Milan”

- explains Massimo Morini, Chief Economist at Algorand Foundation.

Daniele Marazzina from Politecnico, who coordinates the project, explains that the Emfi project is aimed at experimenting with blockchain and the digital complementary tokens for the national process of book vouchers for primary school:

“This process is part of a national plan of distribution of public resources to the population. In Italy each municipality manages this distribution individually. The main benefit of adopting blockchain and tokens is to create an end-to-end process for all the involved stakeholders, capable of transparently tracking the distribution.”

EMFI has analyzed the process, designed the solution and tested it in a library in Sesto San Giovanni, namely Il Passalibro. For more information, please go to https://www.qfinlab.polimi.it/emfi_about_it/.

 

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