'Verisart' Uses the Blockchain to Ensure Fine Art Legitimacy
References: verisart & techcrunch
Some of the most financially devastating crimes in the history of the modern world have occurred as a result of meticulous art fraud, and 'Verisart' is a new company that's aiming to eliminate those sophisticated charades altogether. The company is using the power of the blockchain to ensure that pieces on the fine art market are the genuine article, giving traders complete confidence in the deals that they make.
Traditionally, the aforementioned art fraud has been a serious issue for the art market, with many potential buyers balking because of the risk of being made a fool. It may seem silly or paranoid, but that fear has been a real damper on the industry as a whole. Verisart hopes to use its blockchain tech to eliminate those anxieties and create a more robust art market.
Image Credit: TechCrunch
Traditionally, the aforementioned art fraud has been a serious issue for the art market, with many potential buyers balking because of the risk of being made a fool. It may seem silly or paranoid, but that fear has been a real damper on the industry as a whole. Verisart hopes to use its blockchain tech to eliminate those anxieties and create a more robust art market.
Image Credit: TechCrunch
Trend Themes
1. Blockchain-based Art Verification - Using blockchain technology to verify the authenticity of art pieces, eliminating the risk of art fraud and increasing trust in the market.
2. Enhanced Confidence in Art Trading - By adopting blockchain, Verisart aims to instill complete confidence in art traders by ensuring the legitimacy of fine art pieces.
3. Revolutionizing the Art Market - Verisart's use of blockchain has the potential to revolutionize the art market by removing the fear of being fooled and improving overall transparency.
Industry Implications
1. Art Authentication and Verification - The blockchain technology utilized by Verisart opens up opportunities for innovative companies to provide enhanced art authentication and verification services.
2. Fine Art Trading - The secure verification offered by blockchain technology presents disruptive innovation opportunities for the fine art trading industry, motivating more buyers to invest in valuable pieces.
3. Blockchain Solutions for Fraud Prevention - As Verisart tackles art fraud through blockchain, it creates opportunities for industries focusing on blockchain-driven solutions to prevent various types of fraud, not just limited to art.
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