{"id":4507,"date":"2018-07-23T10:36:32","date_gmt":"2018-07-23T10:36:32","guid":{"rendered":"https:\/\/migrate1.artrights.me\/?p=4507"},"modified":"2021-04-21T14:28:48","modified_gmt":"2021-04-21T14:28:48","slug":"christies-art-tech-summit-2018","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/christies-art-tech-summit-2018\/","title":{"rendered":"Christie\u2019s Art+Tech Summit 2018"},"content":{"rendered":"

The art world is changing<\/strong><\/em><\/h2>\n
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Christie\u2019s<\/u><\/a>, together\u00a0with Vastari<\/u><\/a>\u00a0e Christie\u2019s Education<\/u><\/a>, has promoted in London the first\u00a0Art+Tech Summit<\/u><\/a>\u00a0focused on the potential of Blockchain for art.<\/em><\/h1>\n

The dialogue of experts from all over the world was aroused\u00a0from a question: is the art world ready to explore the benefits of Blockchain?<\/strong><\/em><\/p>\n

The attention towards\u00a0the new technologies supporting the art world<\/strong><\/a> has been the subject of the report Art&Finance 2018<\/a> published by\u00a0Deloitte and<\/strong>\u00a0Art Tactic<\/strong>.<\/p>\n

The Report analysed the reputation and functioning of the art market, highlighting issues such as authenticity, price manipulation and lack of transparency<\/strong>, and envisaging a solution in the use of “increasingly precise analytical and management tools”<\/em>.<\/p>\n

“The art market is growing<\/b><\/strong>\u00a0and the latest data confirm it<\/em>“, emphasizes in his speech in London S\u00e9bastien Genco<\/b><\/strong>\u00a0(Deloitte Blockchain Specialist), with “an increase in the total volume of transactions of over 70 billion dollars a year<\/b><\/strong><\/em>“. Although\u00a0legal disputes<\/b><\/strong>\u00a0are growing at the same time, linked in large part to the problem of forgeries<\/b><\/strong>, that only in 2014 report of the Fine Arts Expert Institute (FAEI) of Geneva<\/b><\/strong>\u00a0established to be equal to 50% of the total market trade.<\/b><\/strong><\/p>\n

Blockchain technology<\/b><\/strong>\u00a0is the solution for the benefit and protection of artists, collectors and operators in the sector, but again Genco confirms that “despite the numerous advantages offered by the new technology<\/b><\/strong>, only 5% is applied to art”.<\/em><\/p>\n

The reason is obvious right away. There is a lack desire to know the real skills of using Blockchain<\/b><\/strong>\u00a0<\/b><\/strong>from the various actors of the art world and the art market.<\/p>\n

“We need to educate people”<\/strong><\/em> concludes Genco.<\/p>\n

What is Blockchain?<\/strong><\/em><\/h3>\n

Elliot Safra <\/b><\/strong>(Christie’s UK Chairman’s Office) and Bernadine Br\u00f6cker<\/b><\/strong>\u00a0(CEO of Vastari) define Blockchain as a digital and decentralised register<\/b><\/strong>, with the chance for users to store information securely and firmly.<\/b><\/strong><\/p>\n

The entered data are stored in cryptographic blocks that form an incorruptible, immutable and traceable chain, whose verification is reliable to safeguard the privacy and security of the recorded information.<\/p>\n

Anne Bracegirdle<\/b><\/strong>\u00a0(Associate Vice President and Christie’s Specialist Photographs Department) to acknowledge that the use of professional tools based on Blockchain technology will allow to create “a more welcoming art ecosystem”.<\/i><\/em><\/p>\n

Incorruptible and decentralised information, encrypted data and privacy and security safeguarding are equivalent to “more transparency, more trust and more transactions in a solid market<\/i><\/em>” concludes Bracegirdle.<\/p>\n

The future benefits, with the Blockchain applied to technological solutions of which Art Rights<\/a> is an example, make it possible to overcome the limits that the art market still suffers, to protect and enhance the artistic heritage.<\/p>\n

There are many areas of art world where the new technology can be applied.<\/p>\n

The participation in the London summit of the greatest exponents of the art world, including Georgina Adam<\/b><\/strong>\u00a0(Financial Times and The Art Newspaper), Sylvie Gleises<\/b><\/strong>\u00a0(AXA Art), Ram Nadella<\/b><\/strong>\u00a0(Paddle8), Daniel Doubrovkine<\/b><\/strong>\u00a0(Artsy), is the proof of a real interest to deepen the potential of the Blockchain, as well as some issues including compliance with the GDPR (General Data Protection Regulation) theme highlighted by Jonathan Kewley <\/b><\/strong>(Clifford Chance Tech Group)<\/p>\n

The old habits in the art world are hard to die, but its protagonists, given the great participation in Christie’s Art + Tech Summit, are interested in working in order experience the change.<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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And you, are you ready to experience the Blockchain revolution?<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The art world is changing Christie\u2019s, together\u00a0with Vastari\u00a0e Christie\u2019s Education, has promoted in London the first\u00a0Art+Tech Summit\u00a0focused on the potential of Blockchain for art.<\/p>\n","protected":false},"author":4,"featured_media":4485,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[252],"tags":[392,397,764,842,765,846,393,843,770,844,768,845],"class_list":{"0":"post-4507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-art-world-en","8":"tag-art-collection","9":"tag-art-market","10":"tag-auction-houses","11":"tag-buying-art","12":"tag-collectors","13":"tag-digital-register","15":"tag-grow","16":"tag-new-technologies","17":"tag-opportunities","18":"tag-platforms","19":"tag-provenance"},"yoast_head":"\nChristie\u2019s Art+Tech Summit 2018 | How the Market is Changing | Art Rights Magazine<\/title>\n<meta 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