Artchain

art assets secured on the blockchainThe art industry is rife with undetected fraud. Currently, the art market suffers from incompleteness of information due a lack of trust among its participants. Establishing the authenticity of art assets is expensive and often disputed which leads to artificially raised costs of conveyancing in an attempt to protect ‒ imperfectly ‒ against fraud. Transaction of art assets is regulated neither by deed nor by a public ‘art registry' unlike similar tangible asset classes ‒ land & vehicles ‒ which are exchanged more reliably & frictionlessly. Such certification cannot exist using legacy technology due to the compromises of private information it would entail. The unique property of the blockchain is its ability to provide immutable proof that x is y using a distributed ledger, unmatched cryptographic security, and smart contract conveyancing. artchain ‒ a gold standard certification system for art assets ‒ can harmonise the art market with its analogues, preserve the security of private ownership information, and provide all counterparties the guarantee that they will come out of a transaction with satisfaction. Once artchain has been established, the art market can be securitised, which has heretofore been an impossibility. This is the Blockchain Revolution. Together, with the new consensus artchain can provide, we can build a coalition of art industry professionals and participants facing the future of mutual self-regulation of transactions and provenance. thanks. Laurenzo William Mefsutfounderartchain + 9199 BishopsgateShoreditchCity of London, GBEC2M 3TY
Social Link - Linkedin: http://www. linkedin.com/company /artchain
Keywords: cryptocurrency