Is blockchain the future of art? ICO 4ART.

[etene72]

One of the art market’s greatest challenges for works where the artist is no longer alive is to verify its authenticity and provenance. In a 2014 report, The Fine Arts Expert Institute (FAEI) in Geneva stated that over 50% of the artworks it had examined were either forged or not attributed to the correct artist. Blockchain could change this. As a public, decentralized list of records that are linked and secured using cryptography, blockchain’s key feature is its fragmented nature. Hosted by millions of computers simultaneously, no centralized version of the information exists for a hacker to access or corrupt. Thus blockchain is currently believed to be the most secure way to transfer digital data. ‘When it comes to selling artworks, two things are important , Is the artwork real, and do I have the authority to sell it to you?’ Blockchain’s capacity to track and verify authenticity through timestamps on transactions and cryptographic signatures can solve that problem.
The #4ART #ICO is now open to all!
Starting today 31.10.2018, until the end of December. send me D.M https://t.me/vassili4art

[siddartha1492]

Indeed. Authenticity verification is one of the most interesting use of blockchains. Be it for records, goods, ID or art. In terms of art, CryptoKitties team once said that one reason for them to use blockchain was that the authenticity and rarity of their art can be verified on blockchains. That's one of the main reason some cats there sell for thousands of dollar.

In fine arts, the issue of fraud is much higher. So yes, blockchain can really help solve this issue and give buyers a tool to verify that "what they have is what they should have"!