Link Physical Assets with Digital Signatures; Codex Partners with DUST IDENTITY
Every artist, collector, and gallery owner wants to protect the value and integrity of their art pieces. An integral part to that is maintaining an accurate, transmittable, private, immutable, and trusted provenance record. Blockchain technology is a mechanism to achieve this goal.
Codex Protocol, a decentralized title registry for unique assets, and DUST IDENTITY, which is a provider of a diamond based secure solution to link physical objects with digital ledgers, are partnering to link Codex Records with their respective physical assets by creating a unique & unclonable signature using nanotechnology.
“Codex Protocol is built for collaboration and partnership across the arts & collectibles market. We are thrilled to have partnered with DUST IDENTITY to provide Codex Asset registry links to the trusted physical identities established by secure identity with durable, unique nano-diamond ‘prints” said Jess Houlgrave, COO of Codex Protocol.
A Codex Record enshrines the provenance of an asset. Provenance data is generated and supplemented by interactions with the virtual Record (an ERC-721 token). As this occurs, buyers, sellers, insurers, appraisers, and other intermediaries add monetary value to the asset, or at the very least, allow it to be far better understood. The Codex/DUST IDENTITY Partnership takes this one step further by utilizing DUST IDENTITY’s unclonable and military-grade diamond security tagging to make this process frictionless and trusted. The DUST marker eliminates doubt of authenticity and value when applied to an item linked to a Codex Record, allowing for its verification in seconds.
Driving accountability across every change of custody throughout the lifetime of the art piece becomes even more straightforward and cost-effective as the chance for human error is greatly reduced by instantiating a Codex Record with DUST IDENTITY’s footprint on the physical asset. The blockchain is a mode to make data immutable, and the physical-to-digital link provided by DUST IDENTITY is a natural fit.
While there may be no guaranteed ways to prevent loss of great works to things like falling paint poles, losing monetary value of arts and collectibles like paintings, jewelry, cars, and other assets due to lack of verifiable provenance and authenticity can become a thing of the past; eliminating risk, cost and grief. Codex and DUST IDENTITY have partnered to achieve this goal.
About DUST IDENTITY
DUST IDENTITY Inc. is a Boston based technology company on a mission to connect all physical objects to a digital supply chain or a blockchain. We securely & economically verify the authenticity of any product and increase overall trust across the chain. Our proprietary technology utilizes nano-diamonds to create an unclonable identity layer, coupled with a high-throughput scanner and cloud-based infrastructure to ensure genuinely and accuracy across the product lifecycle. We protect the value of the world’s most known brands in Art & Collectibles, Blockchain applications, IoT, Retail, and Defense.
Codex is the leading decentralized title registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex Protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy, and bidder access. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries. To learn more about the Codex Protocol and Biddable.
To learn more about Codex initiatives, download our white paper. To inquire about partnerships and developing dApps using the Codex Protocol, please contact us via Telegram or Twitter.
Nothing herein constitutes an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which it is unlawful to make such an offer or solicitation. Neither the U.S. Securities and Exchange Commission nor any other federal, state, or foreign regulatory authority has approved an investment in the matters contemplated herein.