The Art World Goes High-Tech: Bitcoins, Blockchain and Databases
A handful of tech-savvy companies are shaking up old-school art world ideas about certification, provenance, and registry. Online databases are offering new, centralized platforms to track artwork. These services offer digital ledgers and certificates of authenticity and some--blockchain databases--provide the opportunity for users to carry out transactions in bitcoins (a type of digital currency). The databases, with varying degrees of privacy, can both facilitate purchasing and document each time a work changes owner.