Artprice has recently obtained “innovative company” investment status from France’s State-run Public Investment Bank (BPI) in November 2015 and this prized status will give the company access to significant Innovation Funds (FCPIs in France) for a 3-year renewable period.
By its very nature, the Art Market is the perfect market for a Blockchain and Artprice is leading in the right direction as all its players are looking for the serenity and confidence that an absolutely safe market provides. According to all the major market research studies, the Art Market is becoming an efficient market like the financial markets.
Artprice plans to use the funds to invest further in its IT strategy and particularly their Art Market Blockchain – a distributed database containing specifications of years of complaints and lawsuits between the different segments of the Art Market chain and, notably, their relations with tax authorities and State judicial and customs services.
Artprice’s Blockchain will be compatible avec IPv6 (network protocol without connection of layer 3 of the OSI – Open Systems Interconnection) and IPv4.
Artprice is confident of the success of the Blockchain it is developing as it’s the result of a consensus linking proof of work with proof of participation.
In the longer term the Blockchain will allow a considerable improvement in the payment of reproduction rights and other related rights to recognised copyright companies like the ADAGP in France which collects copyright duties in 43 countries.
Artprice’s Blockchain will reduce transaction costs (intermediation) both for auctioneers and for galleries and museums. In fact, Artprice’s Blockchain will take the place (among others) of catalogues raisonnés, which are subject to known defaults, weaknesses and ‘subjectivity’. It will therefore become a sort of universal catalogue raisonné.
Their Blockchain will allow the total control of data, the management of copyright payments, the trace-ability of artworks, the tracking of stolen or lost artworks, their tracking by customs authorities and the localisation of artworks at any given moment.
Ever conscious of reputation risk, free ports, such as those in Geneva, should welcome the Blockchain as it will provide the durable credibility they need after the different scandals that have impaired their image.
Artprice will progressively install its Blockchain throughout its IT systems interacting with the global Art Market, and this will streamline and authenticate transactions, giving collectors and art buyers of all kinds the confidence required to make the Art Market transparent. It will also assure buyers and sellers that their data will be freely duplicated, via Artprice’s Blockchain, to millions of servers worldwide, and therefore can’t be falsified.
With its Blockchain, Artprice is making a significant contribution to the art market by enhancing its overall transparency vis-à-vis legislators and State authorities. This ‘self-regulatory’ initiative represents a way of avoiding a surcharge of legislative and administrative constraints, which is why so many players on the Art Market are more than happy to contribute to the project.
Artprice is the global leader in art price and art index databases. It has over 30 million indices and auction results covering more than 620,000 artists. Artprice Images gives unlimited access to the largest Art Market resource in the world: a library of 118 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice’s art historians.
Artprice permanently enriches its databases with information from 4,500 auctioneers and it publishes a constant flow of art market trends for the world’s principal news agencies and approximately 7,200 international press publications. For its 4,500 000 members, Artprice gives access to the world’s leading Standardised Marketplace for buying and selling art.
In addition to substantial fiscal advantages, this R&D investment ensures that Artprice can regularly create new products and services that expand the Internet’s commercial attractiveness, without any loss or capital increase diluting shareholder value or weighing on the growth of its share price.
According to Thierry Ehrmann, Artprice’s founder:
“Few listed companies can boast such salutary management and economic results… and in the coming years we will enjoy significant tax credits.”
In a world where tax obligations, transparency and regulatory compliance govern all high value-added markets, the Art Market can only be effectively regulated once standardised. Artprice is not only world leader in Art Market information, but also the leading pioneer of the market’s standardisation.
Artprice has recently made a substantial investment in acquiring the Swiss company Xylogic whose technical team developed the e-SA3 (e-Solutions for Art and Auction). Xylogic’s client base includes a large number of the world’s major Art Market players and its e-Solution has a major and unique technological lead on the Art Market, primarily via its powerful proprietary algorithms.
According to Thierry Ehrmann, founder and current chairman of the Serveur Group, a major collator and distributor of judicial, legal and economic databases for nearly 15 years…
“With Blockchain, the code is law.”
The Artprice Blockchain can be likened to a large public accounting book, both unfalsifiable and anonymous.
To quote the mathematician and professor of computer science at the Lille University of Science and Technology Jean-Paul Delahaye:
“Imagine a huge book that everyone can read and write into freely, but that is impossible to erase and and is indestructible.”
Artprice – with the billions of logs each year onto its Big Data banks – knows the IT structure of the global art market and its algorithms better than anyone.
The new version of Artprice’s Standardised Marketplace, deployed late April 2016, is entirely written to fit into Artprice’s Blockchain, a guarantee of confidence, especially for the US market, Artprice’s priority target.
Remarks, suggestions, advice and criticism from Artprice’s clients and market professionals have contributed to the specifications of our Blockchain, which, by responding to a genuine and confirmed market need, has to be better than a solution imposed from the top.
Artprice is listed on the Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.
- Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain - October 19, 2017
- Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE - October 19, 2017
- Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime - October 19, 2017
- Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor - October 19, 2017
- SolarCoin Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading - October 19, 2017
- Kazakhstan’s Lendex.io plans ICO in early 2018 - October 19, 2017
- Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO - October 19, 2017
- Bank4YOU Group’s launches ICO end of October – Investors Call to Action - October 19, 2017
- Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research - October 19, 2017
- A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project - October 19, 2017
- Cofound.it Introduces Seed Program for Early Blockchain Startups - October 19, 2017
- LOOMIA Announces Collaboration With Storj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology - October 19, 2017
- DECENT Launches Beta Release of DECENT GO, The First Decentralized Marketplace for Digital Content - October 19, 2017
- Orebits Corporation, Inc. Announces Orebits Pool, LLC and Orebits.AU Eco-System - October 19, 2017
- Pareto – the Peer to Peer Financial Content Marketplace Announces Token Sale - October 19, 2017
- Appsolutely Launches the LoyalPlatform, LoyalCoin and LoyalWallet; Using Blockchain to Usher in the New “Loyalty Economy” - October 19, 2017
- Eidoo Raises $27.9m In Successful ICO To Bridge The Cryptocurrency Gap And Open The World Of Digital Currencies To The Masses - October 19, 2017
- Malta-based RoboAdvisorCoin (RAC) Launches Token Sale for Robo-Advisor Dedicated to Cryptocurrencies and Digital Assets - October 19, 2017
- BLOCKv Announces the Availability of VEE Tokens Through Its Upcoming Token Generation Event – Open to Public on October 19, 2017 - October 19, 2017
- The Fundchain initiative starts again this year with new Research & Development roadmap for the investment fund industry - October 19, 2017
- Digital Cryptocurrency Vault DigiPulse Reaches $1 million in Token Sale - October 19, 2017
- Tickets Cloud Kicks off crypto.tickets ICO - October 19, 2017
- Ex-JP Morgan Vice President Dr Joseph Chen-Yu Wang Joins Ambrosus as Project Manager - October 19, 2017
- Russian Wood for Cryptocurrency – Timber! - October 19, 2017
- Proof Suite Announces Token Sale for Blockchain Platform Designed to Tokenize and Insure Real World Assets - October 19, 2017
- DataWallet Announces Blockchain-Based, Consumer-to-Business Data Exchange - October 19, 2017
- IEEE Releases Findings from First Detailed Study of Blockchain Adoption in the Pharmaceutical Enterprise - October 19, 2017
- Horizon State Launches Token Sale to Modernize Global Voting and Collaborative Decision Making - October 19, 2017
- Metaps Plans to Launch Time Marketplace ‘Timebank’ Token Sale on COMSA - October 19, 2017
- Lykke Vanuatu brings Binary.com tokens to Lykke Vanuatu Exchange - October 19, 2017
- After raising $15M in a pre-sale, BitClave is ramping up for its Nov 8 crowdsale, and its plans to redefine the search experience - October 19, 2017
- Kazakhstan Is About To Launch The First Cryptocurrency, Directly Backed By Fiat Money - October 19, 2017
- Positive.com launches to protect Initial Coin Offerings from cyber attack - October 19, 2017
- Latium Launches LATX Cryptocurrency Token Sale for Participation in AI-Based Tasking Platform - October 18, 2017
- IBM Announces Major Blockchain Solution to Speed Global Payments - October 18, 2017
- Launch of SMSCHAIN, a Blockchain-based SMS Gateway - October 18, 2017
- Streamr Concludes a 30 Million CHF Crowd Contribution Period to Build Decentralized Real-Time Data Economy - October 18, 2017
- Publica Building New eCommerce Platform for the Publishing Ecosystem – Token Sale Coming Soon - October 18, 2017
- BLOCKv Partners with Storj Labs to Provide Decentralized Storage Architecture and New Toolsets to Power Next Generation Digital Objects - October 18, 2017
- Coinme Announces the Start of the UpToken Sale Today With Over $40 Million USD in Pre-Registration Signups - October 18, 2017
- Blockbid Announces Launch Of ICO Backed By Multi-Cryptocurrency Trading Platform - October 18, 2017
- SportyFi – Decentralized Sports Investment Start-up Endorsed by Soccer Superstar Roberto Carlos - October 16, 2017
- Acronis Joins Runa Capital and Parallels In Accelerating Innovation and Supporting Blockchain Initiatives in Malta - October 16, 2017
- Jaxx Allows First Crowdsale Participation with STORM Token - October 16, 2017
- Hyperledger Knits New Project – Hyperledger Quilt - October 16, 2017
- Legolas Exchange Partners With BanQix to Protect Institutional Investors - October 16, 2017
- MARK.SPACE Announces Launch Of Blockchain-powered VR-platform With Upcoming Token Crowdsale - October 16, 2017
- IRTI Partners With Ateon And Settlemint To Develop Blockchain-based Products For Financial Inclusion - October 16, 2017
- Golden Alliance Coin Announces ICO – For Mining Gold - October 16, 2017
- Media Aggregator Esports Gold Announces $5 Million Ethereum Token Sale - October 16, 2017