How Blockchain makes Art Market Safer for Clients?- Varun
How Blockchain makes the art market safer for clients? What do stats show? The art market is booming and investors are jumping in. The global art industry recorded $63.7 billion dollars in sales last year, a 12% increase from 2017, according to the 2018 TEFAF Art Market report. The art market is now growing faster than both corporate bond yields and small-cap U.S. companies. While we may be living in a golden age of art, potential clients looking to invest in alternative investments are spooked by the art industry’s lack of regulation and the risks of fraud. Can Blockchain provide an answer to this situation? Of-course, Blockchain may provide an answer. Adopting blockchain technology offers the art industry an opportunity to ameliorate the drawbacks of its opacity while retaining the benefits of an unregulated structure. As fine art matures into a formidable asset class, it is imperative for advisors to understand how new technologies are updating the art indust