Verisart, a Blockchain art startup, got support from Peter Todd, a Bitcoin core developer when it came under fire following allegations the company acknowledged that the Mona Lisa was a masterpiece of Terence Eden.
Peter Todd claims that Open Standards for the UK Government Digital Service (GDS) Terence Eden chief failed to understand how exactly Verisart works when it uploaded the art treasure to the Blockchain tagging Eden as its painter.
The blockchain startup which started trading in 2015 has characterized its business as “applying blockchain technology to combine transparency, anonymity, and security to protect your records of creation and ownership.”
Todd wrote that the company, Verisart, is not a blockchain authority but an instrument that only gathers and timestamps data.
Verisart, purportedly, honored a picture from Wikipedia and an email address as proof of authenticity.
A startup has certified my artwork & placed their verification on the bitcoin blockchain. Now art dealers & auctioneers can feel secure that I am the original artist. One small problem… I am not Leonardo da Vinci!
Amidst the high-profile forgeries threatening the higher strata of the art world, blockchain has caught the eye of many businesses as a hopeful tool to help secure the art sales process.
Reacting to Eden, Peter Todd indicated that blockchain’s strength harnessed by Verisart in the conduct of its business is evident in advantages which are over and above what Eden said it is not capable of doing.
Todd argued that blockchain at Verisart can prevent backdating and forgery of evidence as it will appear in the records as being created recently.
He went on:
“That simple guarantee is a big improvement over the status quo.”