The Reinvention Of Art Auctions In The Age Of Blockchain

By Desiree Moore and Dora Georgescu (July 3, 2018, 3:35 PM EDT) -- We were first introduced to "the Blockchain" as it related to cryptocurrency, a then-unknown product that involved encryption techniques to generate digital currency outside the conventions of a central bank. However, cryptocurrency is simply one of many potential applications that work on "distributed ledger" or "blockchain technology." Over time and outside of the cryptocurrency context, blockchain technology has been providing increasingly mainstream and efficient solutions in various arenas, from the business sector to the legal market and more.

In the context of the purchase and sale of fine art, blockchain technology is proving to be a profound answer to uncertainty in...

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