Blockchain Comes to the Art Markets


I really liked developing and writing the opening of this piece about one of the many intersections of Art with Technology. I was able to take my Chinese language and culture study and apply it to Blockchain technology. Now there’s a signature opening of an article if ever there was one. - Wim

Here's a taste of the article ...

The Ming dynasty Chinese saying “Water That Is Too Clear Has No Fish” applies to the modern day art market like few other aphorisms. The opacity and secrecy of the sector have mired artists, buyers, sellers, and middlemen in murky business dealings that have not changed since the Medici ruled Florence. Blockchain technology, however, promises to speed transactions, improve record-keeping, reduce transaction costs for buyers and create revenue streams for artists where none had been before.

What is Blockchain?

Blockchains are members-only networks on the internet. Each member of the network has an account that includes an encrypted digital ledger of transactions that is exactly the same as everyone else’s ledger in the network. The currency in the networks is called cryptocoin, which can be cashed out at any time.

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