IBM Cloud - Structured Ideas

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Blockchain for art traders and collectors

Art dealers and collectors are usually puzzled by provenance and authenticity of their purchases. If authenticity cannot be guaranteed even for the most renown masterpieces, provenance can be more easily ascertained provided there is no missing link in the journey that the art piece has completed along decades or centuries.

Blockchain can track each transaction, can also certify that no digital copy of the documents involved (such as expertise or photographic documentation) has been altered.

Such a service, based on a Cloud infrastructure, can be delivered to professionals (such as auction houses or art galleries) as well as to private collectors and museums.

The service should guarantee, for security reasons, the anonymity of the buyers as well as other sensible information (such as the value of the transaction). This information should be made accessible only with permission of the owner/dealer.

The service should also take in account legal constraints and authorities requests such as official investigations aimed to track stolen artworks or pieces that have been sold violating local laws (such as the restrictions on exporting artworks applied in Italy, Greece and most countries of the Middle East). It is however responsibility of the users, not of the service, to comply with such regulations.

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  • Feb 13 2018
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