There has been a new milestone in the blockchain adoption, this time set by the successful recording of a record-breaking art sale on a blockchain. It all began on November 13th when the Barney A. Ebsworth Collection recorded a sale at the famous Christie’s auction house in New York and raised a total of $317,801,250 – and went viral in today’s crypto news.
The sale quickly became the most valuable art auction to be ever recorded on a blockchain. In an official press release about it, Christie’s revealed that the auction was handled in partnership with the art-focused technology provider Artory by using its permissioned blockchain to host the auction information.
During the night, at least thirteen auction records were set, with the Chop Suey piece by Edward hopper fetching an amazing $91,875,000. Including participants from 23 countries bidding for an art collection curated by the famous collector Barney A. Ebsworth, the auction had the work of artists such as Jackson Pollock, William de Kooning, Charles Demuth and Georgia O’Keeffee.
In total, 42 art pieces were auctioned off with Artory’s private Ethereum blockchain implementation that recorded all of the details of the sale. This Thursday, a new batch of 49 pieces from the Barney A. Ebsworth collection are set to go on auction again, described as ‘the most important privately-held collection of the 20th Century American Art’.
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“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
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“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
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