Art Investment

The results of the auction Christie's for the first time will make the blockchain

Don't practice on cats. Pioneer will be the auction of An American Place: The Barney A. Ebsworth Collection, which will be held on 13 November 2018. They will sell a multimillion-dollar masterpieces, including a painting by Edward hopper with a valuation of $70 000 000

Not to say that it is expected that-то quite so innovative. The organizers have started with the most simple. A description of the items in advance will make the blockchain-реестр (distributed database), and then there will be anonymised records of new owners. Without names, but with the certificates to prove the right of ownership.

in short, what used to be solved with the help of pieces of paper (which was lost and tampered with), will now be addressed by using a secured database, records in which it is impossible completely to alter or tamper. We are not talking about full automation of the process of change of property rights, anonymous payment or smart-контрактах, but this is at least what-то symbolic step. Moreover, the tests are not in detail, but already on the multi-million dollar masterpieces.

partner with Christie's on this blockchain-аукционе acts firm Artory. Actually, she leads them to a secure registry, and also produces physical and digital certificates of ownership. Firm young. Founded less than two years ago by attorney Nanna the Decking (Nanne Dekking), together with the founder of SAP and a collector Hasso Plattner, as well as a family of collectors from the Corporation Corber. If this business is "off", then in future it can be created protected by a resale system, preserving the anonymity of buyers and sellers, as well as automatic payment of royalties to authors and successors in those unfortunate countries where it is practiced.

Source: christies.com, artory.com

What else to read on the topic on AI:
Why is the blockchain not soon take root in the trade of art;
How the blockchain could change the art-рынок.


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