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Use Cryptocurrency To Buy Art & Collectibles With This Blockchain Powered Verification Tool

A new decentralized platform for unique assets like art, fine wines, watches and more, has launched. Codex Protocol allows anyone to use cryptocurrency to buy art and collectibles, and plug into a growing ecosystem of third party services, and it is encouraging a new generation of art collectors to invest due to the certainty of value it offers.

More information can be found at: https://codexprotocol.com

The site explains that, when it comes to art and collectibles, an items identity is central to its value. To this end, its imperative to be able to assess an items identity in order to ascertain its true worth.

This is where Codex Protocol can help, because it stores the identity of an item and its history on the blockchain as a Codex Record. When customers buy or sell items, the previous owners, history and authenticity are regularly checked – and now its easier than ever before.

Using CodexCoin, interested parties will be able to modify and verify the data stored on Codex Records. To make the idea of decentralized verification even more accessible, a number of auction houses, lenders and appraisers are already announcing the use of CodexCoin.

Codex Protocol is designed for unique assets backed by an industry consortium representing 5,000 auction houses. It is initially focusing on the art and collectibles field, where the need for a registry is important, because there is no centralized title registry available.

The creators state that, when it comes to unique assets, provenance is fundamental to an items value. Verifying this information is therefore highly important, if challenging.

The team behind Codex Protocol states: The Codex Protocol registry solves this problem by recording, verifying, and securely storing important information about each item.

It currently focuses on art, fine wine, collectible cars, antiques, decorative arts, watches, jewelry, valuable coins. musical instruments, digital collectibles, and more.

Full details on the platform and how its set to revolutionize the market can be found on the URL above.

Posted by on 26. July 2018. Filed under Computer & Software. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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