The art world has had a serious problem for a long time – art theft. Currently Interpol has 51,000 pieces of stolen works of art on their registry, and provenance is an increasingly difficult thing to prove. Thankfully there is an answer in the form of blockchain technology.
Blockchain technology can be used to secure works of art in a number of different ways. First, the blockchain’s public and private keys that are time stamped can be used to trace when a work of art is bought or sold, proving whether or not a person is the rightful owner. Second, blockchain-based registries can verify whether a work of art is real or counterfeit through scans. Third, digital works of art can have authenticity tied to the blockchain to track movements and identify when sales are legal or whether there is tampering or theft.
Learn more about how the blockchain can prevent art theft from this infographic!