American online auction of works of art, Paddle8, in conjunction with the Swiss technical company The Native, is launching an authentication service based on the blockbuster. Paddle8 will offer digital certification, or P8Pass, for each picture. sold online. The information will be stored on the battle bitcoin.
What is this service for?
P8Pass is a certificate, the data of which is encoded on a permanent basis on the block, as well as related to information from digital catalogs, museum catalogs and specialized literature. Each work purchased using Paddle8 receives a certificate with direct access to the ownership history and author information. The service was also created in partnership with the American technical firm Verisart, an investor in The Native.
The service allows buyers to track the certificate in real time, rather than relying on information provided once by the previous owner. The data recorded on the battle bitcoin "can not be changed without making the changes transparent to all users," said Tyler Winklewoss, strategic advisor to Paddle8.
"We see the application of this service to the art market, known for its lack of transparency and the like of the tip of the iceberg in the context of democratization and violation of the status quo."
Cooperation Paddle8 and The Native
Paddle8 and The Native have already worked together. In January, a Swiss technology firm invested in Paddle8 after the parent company's last bankruptcy. After this, work began on a project that allows you to purchase works of art using crypto-currency.