Some 4,000 records with art auction data can be verified using blockchain. After that Artory, a startup dedicated to collectors that offers a register based on the blockchain of Ethereum to verify the authenticity of the works, will buy Auction Club, database by subscription that contains records of auction houses in the world.

In a note of a specialized media, it was announced that it is expected that in the month of May begin to appear in the public record of Artory the data collected by Auction Club for the auction of works of art. This includes information on some 250 companies from 40 countries since 1970.

The startup set out to eliminate the problem of trust, given the risks of buying counterfeit works, a fact that represents a fear in the area. The service will record "the histories, origins, sales and archival materials of works of art and collectibles", highlights on its website.

The system works through certificates that it generates for each work after registering the data in the Ethereum blockchain.

Nanne Dekking, founder of Artory, alleged that Auction Club's compilation work has followed "strict guidelines" regarding the integrity of the data. Because of this, he continued, they decided to incorporate them.

Last November, Artory partnered with the historic London auction house Christie's. They collaborated in the blockchain registration of the sale of the Barney A. Ebsworth collection in New York.

Featured image by Gena / Stock.adobe.com