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#Deloitte Demos #Blockchain Use Case for #ArtIndustry

art, paintings

The #art world has explored the use of #bitcoin and other #blockchains to track provenance for some time, and the concept has drawn attention of digital creatives as well. Ultimately, the goal is to both ensure #authenticity of an #artwork and trace the history of ownership and use of that work.

Deloitte’s proof-of-concept, dubbed ‘ #ArtTracktive ’, was developed by its Luxemourg office, and according to the firm, it seeks to provide a channel for distributed information sharing between #artists , #owners , #galleries and anyone involved in the #transportation of an #artwork .

Patrick Laurent, a #technology leader and partner for #Deloitte , said in a statement:

"The blockchain distributed ledger can trace the journey of artworks. When this technology is used in the art market, all events in the life cycle of an artwork are recorded and traceable. The application addresses one of the main concerns in the art market today, namely the fragile documentation related to the provenance and movements of a piece of art."....

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