Why This Whitepaper on Art Is So Important?
If you know about the art world, you also know it tends to rife with forgeries and art scams.
One company is attempting to change that by blocking the ability of forgers and art scammers to get away with what they do. Their whitepaper on art has just been published, and it explains in full why what the company is doing is so important for the secure future of art.
Who is Artchain? -- Artchain is a company that is providing two important things to help secure the art world.
The first is a cryptocurrency that will be used by both buyers and sellers of art. It will be used to authenticate both sales and purchases, and to safeguard the money of both the seller and the buyer.
The second project Artchain has created, and one that is talked about extensively in their whitepaper on art, is a software program that is able to authenticate art.
The software program does this by photographing pieces of art work, and then comparing them to other photos of the work previously taken. It is so precise it can detect minute changes in the work from one photo to another and, thus, flag a piece as definitely a forgery.
How will this change the art world? -- Not only are forgeries a huge problem, with many people around the world buying forged pieces of art unknowingly, sales of art is also at risk.
As this whitepaper art explains, this is due to people buying expensive pieces of art through the traditional banking system. A system that does not have the security in place that a cryptocurrency does.
With the use of a cryptocurrency, however, both the money of the buyer and the seller can be protected. Allowing sales to go ahead securely, and saving both parties from a huge financial loss.