Blockchain in Art: Inspired by Technologies

18:00 — 19:30

Works of contemporary artists have developed into the field of science, technology, biology and sociology for a long time already. Therefore, it seems natural the Blockchain Art emergence as a separate artistic movement. The ability to originate an autonomous, self-sustaining and self-reproducing work with which it is possible to interact is extremely attractive to the creators. However, why are the Blockchain Art works still not accepted by many? Will the bitcoin works achieve the high art level? What prevents the museums and galleries from taking Blockchain Art seriously?

Blockchain makes it possible to make the system of buying and selling the works of art more transparent. Use of the smart contracts, obligations under which are fulfilled automatically facilitates direct interaction of the artist and the client without the intermediaries' participation. Will Blockchain open up new options for funding the artistic endeavors? Will it make the works of art more accessible to the middle class people?

To the greatest extent, Blockchain is able to influence authenticity verification and proof of origin artwork history. Nowadays, most sales in the art world account for luxury class works, which high cost generates a spread of fakes and fraud. The systems for evaluating, documenting and certifying art and digital works with the help of Blockchain will make the art market unified and legal. Will it contribute to lower the prices and cheapening the art? And is an open art market appearance possible in the near future?