The Algorand Foundation announced via a blog post on Tuesday that it has partnered with the Politecnico di Milano, Cefriel, and the University of Stirling in Scotland. The partnership sees the Algorand Foundation support the Emergency Finance (EmFi) project coordinated by the QFinLab. EmFi aims to create a special-purpose virtual currency for the Covid-19 socio-economic emergency in Italy.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products.” As such, Algorand ensures "full participation, protection and speed within a truly decentralized network." ALGO is trading at $0.2868 at press time, down by 4% in the last 24 hours.