Token Technology, Artcoin
WHAT IS TOKEN TECHNOLOGY?
The term “Token Technology” includes a method for the world of art to track down any forgery. This method will protect a safer future for the galleries, collectors and art institutions.
It is well-known by those who know and appreciate excellent art in its truest form know that this word is not transparent. By guiding these fans of art using cryptocurrencies through their transactions, the investors can relax because they benefit from this method. Cryptocurrencies do increase the transparency and security of the platforms of smart contracts. Information can be pulled together that regular investors can’t normally retrieve. This enables the art market to be democratized which lets it act as direct contact with the art industry and investors.
Robust software will authenticate images. A digital fingerprint that is unique is used on each piece of artwork. It can be scanned to match textural details. It can then be stored on the blockchain and can locate any fakes.
CHANGING THE ART INDUSTRY:
Those individual collectors and even large institutions will benefit from the protocol of the authentication. The reports on the condition will be done faster and easier which makes the artworks traced and tracked must more efficiently. That enables logistics companies and insurers to depend on the functionalities. Now the artists themselves can resale their art and benefit financially.
SUPPORTING CATALOGUING AND TRANSACTIONS WITH BLOCKCHAIN:
Using token technology, the art world is the most transparent than it has ever been. Basing the platform on the blockchain, it can catalogue the artwork’s provenance, digital fingerprints and history. This is possible since the platform is built on profiles that a tamper-proof. Using decentralization and smart contacts, the best standards of security are guaranteed.
There is a great monetary saving for investors by using technology to stop forgeries. The savings can be up to hundreds of millions of dollars each year.