Fine art has been for centuries a great store of value for wealthy families. However, it is a market that leaves most investors underserved due to the many barriers that exist to enter this market.
Most first-time investors who get excited about purchasing their first piece of art very quickly get discouraged and disappointed as soon as they learn about the tedious and opaque process required, and the huge fees that dealers charge. But it does not have to be this way. Technology has created efficiency in capital markets for the benefit of many asset classes, and there is no reason why fine art should be the exception. One of the key challenges faced by the art market is validating the authenticity of artworks. Now, with blockchain technology, this process can be made secure and tamper-proof to unlock the estimated trillions of dollars’ worth of fine art currently in safe storage.
As cryptocurrency market’s trading volume grows, the market is attracting more investors and traders. Since it is a new market, there are still lots of arbitrage opportunities due to the inefficiency.
What is arbitrage?
SINGAPORE & ANDHRA PRADESH, March 10, 2017 — Marvelstone Group, the private investment group behind the world’s largest fintech hub LATTICE80, has signed a memorandum of understanding with the Government of Andhra Pradesh in India to open the first LATTICE80 location outside of Singapore. LATTICE80 Vizag will be located in Fintech Valley Vizag’s Fintech Tower. As the largest city in […]
Partnership brings real-time, low cost money transfer services to the Philippines Hong Kong, 20 January 2017 – OKLink, the blockchain-powered global settlement network, and Ayannah, the Philippines’ leading digital payment service provider, have signed a partnership agreement today to provide real-time remittance to the Philippines via cash, bank accounts or e-wallet. Powered by Blockchain, OKLink’s settlement platform currently […]
Trade Finance Trade finance is the lifeblood of the global trade industry, which has traditionally been dominated by banks and large financial institutions. It is an umbrella term that describes a range of traditional trade finance techniques and services offered by financial institutions to corporate clients, much of it using paper instruments. 1 The growing risks of fraud in the […]
The Consensus 2016 technology conference was just held in New York with the keynote address focused on Blockchain innovation this year. During the conference, Deloitte had something shiny to showcase. Deloitte, Big Four accounting firm headquartered in New York, USA, has recently announced their partnership with 5 blockchain startups. The startups are, BlockCypher, Bloq, ConsenSys, Loyyal and Stellar. This collaborative […]
Blockchain is on the roll! Japanese custodian bank Mizuho Bank, Fujitsu Limited and Fujitsu Laboratories has announced that they have completed their trial for the use of blockchain technology in cross-border securities settlement which began in December last year. The trial was aimed to use the technology to improve the efficiency of their systems, including finding ways to reduce the […]