Page 25 - Arts Management Magazine Future Issue

“For artists and collectors blockchain technology can provide a secure, robust

and transparent platform for prove and verification of the provenance and

ownership of the artworks, without the need for a trusted intermediary.”

Professor Dr. Christoph Meinel

The innovative concept of blockchain technology makes it pos- collected by a group of new owners, who are empowered to re-
sible to log data in a tamper-resistant and transparent way in a assemble the full video at will (Snark.art White Paper - https://snark.
decentralized system without any maximum number of users or art/assets/white-paper/89-seconds-Atomized-White-Paper.pdf).
identification requirements (users are free to join and leave the
system). At the same time, there is no requirement for trust be- Such an asset class in the art market could help to attract new
tween the users. target audience. As the sharing economy find great approval in a
digital world, new interested parties could relish it in the art world.
Therefore, blockchain technology can provide a robust, secure
and transparent artworks and collectibles registry with ownership AMM: Who would gain most from an art market transformation?
and purchase information included. Dr. CM: Everyone. For artists and collectors blockchain technol-
ogy can provide a secure, robust and transparent platform for
AMM: If an art market change or transformation is possible, proof and verification of the provenance and ownership of the
who do you think may be best qualified to orchestrate it, the art artworks, without the need for a trusted intermediary. And wel-
world, the finance world or the tech world? Or is it a combination? come any interested party to participate in the art market without
Dr. CM: Information Technologies today offer a wide range of risk of being cheated (to buy an artwork or a piece of it without
unprecedented opportunities in the art world, too. Blockchain a large expertise in this field – the real price, the real owner, fake
technology is one of them. For more widespread and interopera- or not, etc.).
ble transformation of the art market, close cooperation between
the worlds of art and tech is important. AMM: How will Design Thinking help create the user experi-
ence for the coming blockchain art marketplaces?
AMM: How can blockchain technology create unprecedented Dr. CM: As I already mentioned before the close cooperation
demand in art? of art and tech world plays a crucial role for a widespread and
Dr. C.M. Many are under the influence of hype around block- interoperable transformation of the art market. The appeal of
chain technology and see it as a general problem-solver. To keep Design Thinking lies in its ability to inspire new and surpris-
it in perspective, blockchain technology can offer a transparent, ing forms of creative teamwork for more innovative solutions.
secure and accessible platform for everyone with the relevant https://hpi.de/en/school-of-design-thinking/design-thinking.html
data on the artworks, without the need for a trusted interme-
diary. Using this platform, artists can register provenance infor- The approach goes far beyond traditional concerns, such as
mation for their art, buyers and sellers can prove and verify the shape and layout. And unlike traditional scientific and engineer-
ownership information, and a lot of new business opportunities ing approaches, which address a task from the view of technical
for artists and collectors can arise as a result (e.g. for digital art). solvability, user needs and requirements, as well as user-oriented
invention, are central to the process. This approach calls for con-
AMM: Would making art an asset class that can be sold in frac- tinuous feedback between the developer of a solution and the
tions expand the market? Could blockchain facilitate this? target users. (https://hpi-academy.de/en/design-thinking/what-is-de-
Dr. CM: There is already an example on the market for such a sign-thinking.html)
use case. Artist Eve Sussman is working with Snark.art to offer
a blockchain-based artwork, shattering her artwork (video piece This cooperation, with the help of the Design Thinking ap-
89 seconds at Alcázar) into 2,304 squares, which can be individ- proach, can create new and innovative blockchain solutions for
ually purchased. The resulting blockchain-based artwork can be the art market.

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