Problem with Blockchain Title registry

Before each Blockchain title registers, there are still important challenges ahead. First, the collection and digitization of analogue data on works of art that have existed for thousands of years is a gigantic task, even if everyone wants to participate in the market. However, when many people oppose it, the task could quickly shatter the impossible. Therefore, this solution is better suited for newly created works, especially for digitally born ones. Second, even if a work of art claims a perfect lineage in the Blockchain, it needs an equally secure mechanism to keep it connected to working in the physical world. Otherwise, a fraudster could separate and “verify” a counterfeit by linking the counterfeit with a legitimate value chain. Third, the viability of the project depends on buyers willing to pay a premium for the integrity of the data. If the sector presents solid values ​​for works of art, existing collectors refuse to pay more for the pieces they track, and/or if the existence of the database does not motivate a number of important new buyers to enter the art market. Then the suggested value of a blockchain registered is exhausted and dies.

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