State-sponsored cryptocurrencies will become a reality in 5 years
Up Next in Blockchain
Blockchain technology is being used to help the diamond industry crack down on illegal trading, by removing the risk of people entering forged certificates into the diamond ownership chain. Being able to track and control such high-value assets has benefits for owners, the industry, and insurance companies.
Blockchain Diamond Trading – A Girl’s Best Friend?
The system for transferring fine art is anything but transparent, making it difficult to track provenance and the movement of items. Transaction records are usually paper-based, making them susceptible to loss, destruction, alteration and theft. Blockchain technology provides a distributed and immutable database of ownership that could solve authenticity and traceability issues in the art world, by recording the history of items in a secure environment accessible to all.
Blockchain To Change The World Of Fine Art As We Know It
Blockchain can solve the current authenticity and traceability issues in the art world.