Eric Esno: The Art and Digital Business Authentication Using Blockchain

Eric Esno: The Art and Digital Business Authentication Using Blockchain

Introduction by Eric Esno: The topic of originality, or authenticity more broadly, is one of the most sensitive topics in the art world, and forms an important part of litigation.

The challenge is to obtain reliable information on the successive owners of the business and to ensure that the latter is not fake. In this area, the use of new technology like blockchain will represent a real breakthrough.

Eric Esno: Business Digital Authentication

Eric Esno: The Art and Digital Business Authentication Using Blockchain
Eric Esno: The Art and Digital Business Authentication Using Blockchain

Digital business authentication is the process of verifying the authenticity of a digital work. There are several ways to authenticate a digital work, but the most popular method is to use digital signatures. A digital signature is a mathematical scheme that allows someone to verify the authenticity of a digital work. In order to create a digital signature, the work creator first creates a hash of the work.

A hash is a number that represents the content of the work. The constructor then encrypts the hash using its private key. The encrypted hash is called the signature. To verify the authenticity of the work, anyone can decrypt the signature with the creator’s public key. If the decrypted signature matches the work hash, it will be verified as an authentic work of the creator

Eric Esno: Explains the importance of a digital Certificate of Authenticity for blockchain

Creating a digital Certificate of Authenticity for the blockchain is a must To guarantee the value of the work to the buyer, but must accurately repeat all components of the work: description, computer media, legal notices of originality and rights of use. This information must be recorded on the blockchain in order for it to be legally recognized in the event of a transfer and/or litigation, which means compliance with the criteria for approval and correct use of the blockchain.

Some US states, such as Vermont, have adopted legislation allowing the use of blockchain for evidentiary purposes. Similarly, in June 2018, a Chinese court ruled that a registration made on the blockchain of a website could be considered as evidence in an infringement case. The situation in France is more complex. Indeed, according to the Regulations issued on July 23, 2014 on Electronic Identification and Trust Services (commonly known as eIDAS), electronic documents understood as “any content stored in electronic form” (Article 3.35) actually relate to registrations made on the blockchain.

Thus, its acceptability and potential legal effect (Article 46 eIDAS) cannot be questioned. ). Accordingly, registration on the blockchain may be invoked to support a claim, at least when proof is accepted by any means. To prove this, the recording must be associated with a clear document and not with a string of numbers (source code, etc.). In fact, writing within the meaning of the Civil Code is defined as “a series of letters, letters, numbers, or any other signs or symbols with a clear meaning, by whatever means” (Article 1365 c. cif.). It is also necessary to ensure the link between the fingerprint and the act or electronic copy (Article 26 eIDAS).

What is Blockchain in Business Digital Authentication

Business digital authentication is the process of using blockchain technology to verify the authenticity of digital files. This can be used to protect intellectual property, ensure data integrity, or prevent fraud. By creating a permanent, tamper-resistant record of the origins of each file, the blockchain can provide definitive proof of authenticity. This makes it an essential tool for businesses and individuals who need to protect their digital assets.

The blockchain can be used in various ways for business digital authentication. The most common way is to timestamp each file using the hash function. This creates a unique fingerprint that cannot be changed without changing the original file. Hash functions are also used to generate cryptographic signatures, which can be used to verify that the file has not been tampered with.

For Eric Esnault: Blockchain Technology Can Make the Market Safer

One of the biggest challenges in the art market for works in which the artist is no longer alive is to verify their authenticity and provenance. In a 2014 report, the Institute of Fine Arts Experts (FAEI) in Geneva said that more than 50% of the artwork it reviewed was either fake or not attributed to the correct artist. Blockchain can change that. As a public, decentralized list of records linked and secured using cryptography, the main advantage of a blockchain is its fragmented nature.

It is hosted by millions of computers simultaneously, and there is no centralized copy of the information that a hacker can access or destroy. Thus, the blockchain is currently the most secure way to transfer digital data. When it comes to selling artwork, two things are important, “Is the artwork real and do I have the authority to sell it to you?” Blockchain’s ability to track and verify authenticity through timestamps on transactions and cryptographic signatures could solve this problem.

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