How The Blockchain Could Change The Art Market 

The art market’s main challenges are attributed to its opaque and unregulated nature. However, by using blockchain technology to publicly record ownership and verification of authenticity of each piece of art, all of the key issues that the art market faces could effectively be alleviated.

If a public ledger for all pieces of art would be created, each artwork could be authenticated by various experts and then verified to be original. This could then be recorded on a blockchain-based ledger, thereby drastically reducing the risk of forgeries entering the market.

Source: How The Blockchain Could Change The Art Market | BTCMANAGER

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Author: Paul Sweeting

Paul Sweeting is the founder and principal of Concurrent Media Strategies, LLC and editor of RightsTech.com

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