Algorand has been chosen as the public blockchain to support Digital Sureties, an innovative digital assurance platform in Italy, Algorand, together with Bank of Italy and Italian insurance agency IVASS and more than 30 financial institutions, demonstrated at an event in Milan how digital ledger technology (DLT ) (also known as the blockchain) to issue bank and insurance guarantees. Digital Sureties, expected to be operational in early 2023, will be the first time an EU member state has allowed the use of blockchain technology for banking and insurance guarantees. Algorand is the only public blockchain used by the Digital Sureties platform.