The Impact of Blockchain on Image Management

  • Stephen Patton Indiana State University


The management of the global art market is highly concentrated in two auction houses. It is questionable if the artists receive proper compensation for labor within their lifetimes. Blockchain technologies have gained much attention due to their disruptive potential. Technology adoptions can follow a life cycle pattern. Blockchain technologies have experienced a great deal of hype. To separate the enthusiasm from the realistic applications it is important to understand the basic structure of blockchain functionality. This paper explores what utility blockchain technologies may serve in the art market, the current implementation of blockchain in the art community, and the fundamentals of how these technologies operate.

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