Recording Art on The Blockchain

March 10, 2019

The founder of ArtChain.info gave a presentation at the 2019 LA Art Show discussing why the bitcoin blockchain is a monolith about which the monkeys are jumping around with excitement (click on the image above to watch the video). The bitcoin blockchain is the ideal vehicle for powering the provenance of art past the archaic paper certificate of authenticity. The reason is because the bitcoin blockchain is the first database in the history of man that has the four crucial properties needed to implement an Internet based provenance database: permanent - decentralized - immutable - anonymous

Several companies are working on different versions of a computerized provenance database, but only ArtChain.info is truly blockchain based. The other platforms are 90% conventional website and conventional database and 10% blockchain.  Merely recording a hash of a provenance record on a blockchain does not mean a platform is blockchain based.

Every other provenance platform (Verisart, Artory, Blockchainartcollective, etc.) requires collectors to create an account and to log into a conventional website.  Want to sell an art piece and transfer the digital certificate of authenticity to the new buyer? You and the buyer are required to log into your account on a conventional, centralized website in order to complete the transaction.  Is this permanent? When the conventional website goes away? Is this decentralized?  When everyone involved is required to create an account and log into a conventional website? Is this anonymous? When the collectors information is stored in a conventional website account that can be easily hacked?

 

ArtChain.info is the only truly blockchain based provenance platform. With ArtChain.info, collectors do not create an account or log into a conventional website.  When a collector wants to sell an art piece and transfer the digital certificate of authenticity, they simply perform a bitcoin transaction from their bitcoin address to the buyer's bitcoin address. Performing bitcoin transactions in order to interface with the platform means it is 90% blockchain based, with only the artists logging into a conventional website in order to register each art piece.  Even then, a new art piece may be registered only by the artist performing a bitcoin transaction from their master address to an art piece address.  So even the artists are interfacing with ArtChain.info using bitcoin transactions. 

ArtChain.info is not funded by private equity and therefore we have the freedom to implement the provenance platform as it should be implemented -  truly decentralized.  The other provenance platforms are only 10% blockchain based because they want to control a centralized provenance database.  This attempt is going to fail. It failed with AOL... and it will fail with art. The art community is not going to accept or support a centralized provenance database that is controlled by Dr. Evil.

 

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March 10, 2019

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