ArtChain Global is a revolution in registration, tracking, protection and accountability for artwork. Based on open, extendable blockchain technology, the platform synchronizes digital and offline assets for anyone involved in trading, collecting or producing works of art.
The ‘Art’ asset class is virtually the last significant way people can hold or store wealth where there is no ‘system’ to register these works. If you own a house, the local government knows who you are and what the house is worth. With a piece of art this lack of transparency often works against it when it comes time to sell, in a world where trust is an issue and it is difficult to prove the true value.
Provenance, or the ‘history of ownership’ is what gives art its value. Poor provenance – low value, excellent provenance – highest possible value. Without a global registration system, it has always been difficult to check the authenticity and of course art has always been rife with fraud, forgeries, stolen or missing pieces.
The world of Art has been with human kind since the beginning of time. It has been gifted, traded, invested into, bought, sold and copied. It is as diverse as human cultures and it will be with us as a source of enjoyment, story telling, fame and fortune for centuries to come.
Conversely, the world of technology and in particular blockchain represents the cutting edge of design and architecture. It presents us with unique opportunities we could only dream of just a few years ago.
It is the aim of ArtChain to bring these two worlds together for the mutual benefit of all. The security that blockchain technology can apply, the globalization of artwork ownership and the promotion of young emerging artists are just a fraction of the exciting opportunities and goals ArtChain Global will deliver.