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Blockchain for Art: DLT Makes Inroads into the Art Industry

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Art is no longer a medium of expression of ideas, thoughts, feelings or portraying the injustice and inequality. It has transformed into a medium of investment. The right artwork associated with the right artist can be a fortune by itself. Now, with the artworks gaining so much value in the market, greed gets few people to find different ways by which they can make use of this unusual financial instrument and make the most money. This is where the problems of counterfeiting, frauds, smuggling, etc. arise, which is hard to track unless there is a strong, tamper-proof method to verify the movement of artworks, their provenance and authentication.

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