No matter how strong a mountain stands, over time, it erodes. The might and beauty of a mountain depreciates over time to nothing. The same is true for most products or items around us.

Everything from household decorations to cars depreciate. Cars are infamous for losing as much as half of their value in 5 years or less and the vast portion of the knick-knacks that decorate our house are worth nearly nothing after exiting the store. But this is just the common man’s story.

If you can make your way to the upper echelon of wealth, you can defy the laws of the world, even the ones mountain must abide by. You can start buying things that, instead of following a natural path of depreciation, appraise in value every year. These items qualify in a unique asset class: Arts & Collectibles (A&C). If you can afford items classified as A&C, you can buy a classic sports car that goes up in value each day you enjoy it. If you can afford to decorate your house with a Picasso, your wealth could go up each year it hangs on the wall—just be careful that you buy an original Picasso; otherwise, you could end up burning a million-dollar fake.

Blockchain Flushes out the Fakes

Most of the items that are classified in the Arts & Collection category derive their value from their identity. At present, the A&C market follows a flawed model as fakes can seep into the market. Over time, the circulation of fakes has drastically increased, and the matter has reached a level of seriousness that billions of dollars of fakes are being sold every year. A new blockchain-powered development, Codex Protocol, is paving the way for an A&C market that will be fake-proof.

In A&C, the identity of an original is maintained by sustaining a proper track record of the item’s ownership history. This record of past ownerships is the item’s Providence.

Providence is the key to valuation of Arts & Collectibles. Since Providence is essentially a track record of ownership data, blockchain technology provides the best solution for this. Codex Protocol is grasping this opportunity to safeguard the A&C industry from forgeries and fraud. With the Codex Protocol, as any art piece of collectible shifts hands, its past owner and new owner will be recorded on the blockchain; consequently, an immutable record is created, thereby ensuring that any fake or forged piece cannot make its way into the market ever again.

Codex Protocol can protect the participants in the A&C market from purchasing fakes. Any new collectible or art piece can begin its life upon the Codex to ensure it can never be faked. To protect and maintain the security of the future of A&C, the existing art pieces and collectibles in circulation would first have to get their Providence verified by industry experts in order to gain passage on the Codex.

Wrap-Up: Codex Protocol is going to give the A&C market a new path, one where fakes and forgeries are impossible. Once an art piece or collectible item is on the Codex, it is able to develop an immutable record of ownerships. Thus, any fake cannot make its way into the market as it won’t have a verifiable Providence.

Codex Protocol Essential Links

🌐 Website: https://codexprotocol.com/
💡 Whitepaper: https://codexprotocol.com/#whitepaper
👨 ANN Thread: https://bitcointalk.org/index.php?topic=4494244.0
💻 Telegram: https://t.me/codexprotocol

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