Poland’s 2nd Largest Bank Uses Blockchain To Preserve Country’s Cultural Treasures
The post Poland’s 2nd Largest Bank Uses Blockchain To Preserve Country’s Cultural Treasures appeared on BitcoinEthereumNews.com.
Pekao Bank from Poland, the country’s second largest lender, is making headlines by taking a bold approach to preserving art. Using the medium of blockchain technology, it has kept some of its most valuable artworks in an Arctic vault, and less exposed to the elements. This is just one of the latest developments from a growing practice: slowly but surely, more and more institutions are coming to realize that protecting cultural heritage against environmental damage and degradation is long overdue. Therefore, Pekao Bank created digital representations of art with a focus on being able to withstand the environmental catastrophes of climate change for longer periods of time. Art Preservation Using Blockchain Blockchain technology is set to revolutionize the mindset of owning and preserving art. In contrast to physical measures, an artifact would always be at the mercy of decay and damage, which has marred museums and collectors in the past. But with NFTs and digital forms of representation, the artworks can be tokenized and safely placed on blockchain networks. This does not only preserve the piece but also goes out to create a transparent and immutable record of ownership and provenance. Under modern 3D scanning technology, Bank Pekao is digitizing well-known Polish artworks including those by Jan Matejko and Stanisław Wyspiański for this project. Then kept on the environmentally friendly Aleph Zero blockchain as non-fungible tokens, these digital copies guarantee their long-term survival. Arctic Archive The Arctic World Archive, a Svalbard, Norway, facility meant to save valuable data from hazards like cyberattacks and natural disasters, will also house the tokenized artwork. Archiv3 reports that the AWA is well-known for keeping scientific and cultural records from entities like UNESCO and the Vatican. Total crypto market cap at $2.06 trillion on the daily chart: TradingView.com The digital nature of blockchain art forces…
Filed under: News - @ October 4, 2024 3:02 am