Home / Crypto News / Christie's annual conference on art culminates without consensus on how to adopt blockchain | CriptoNews

Christie's annual conference on art culminates without consensus on how to adopt blockchain | CriptoNews

As a point to work on the agenda, Cerutti stressed that it is studying how to use blockchain in the future, adding that the progress of said study will be announced "in its due time. "

Another point in favor of the DLT was the one unveiled by Jess Houlgrave, co-founder of Codex Protocol, a platform that functions as a decentralized registry of unique assets such as art.

"Blockchain is an element that allows to enable instead of being a disruptor. It is a platform that allows to verify the origin of a piece, which will serve to increase the size and value of the art market in the long term. We will not talk about blockchain in 10 years. We will simply use it, "the entrepreneur said, quoted by local media.

Skeptics of the platform

Among those who viewed with suspicion the benefits of the blockchain were Anton Ruddenklau's KPMG who said: "This can allow bad actors to enter the system, such as money launderers or terrorists. The system is not robust and is not ready for production. "

To compensate for his opinion Ruddenklau pointed out that although the technology is excellent, you always have to use commercial criteria, you have to be with your eyes well open "the blockchain is only part of a solution."

It is not the first time that recognized art auction houses discuss the uses of blockchain for the art market. On other occasions, in which the art auction house Sotheby's has also participated, formulas have been explored to, for example, create digital certificate records of authenticity or generate historical records of each work. All in all, this is an area of ​​application that is still little explored.

Featured image by pookpiik / stock.adobe.com

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