I have a question
I found this project few days ago
What are the advantages of codex in front of other technologies?
Hi there,
Codex puts provenance on the blockchain and is open source, which means that it will provide an infrastructure for all players in the A&C ecosystem who need proof of ownership while also preserving privacy. This includes bidders, sellers, as well as third-party players—including art insurers, collateralized lenders and art logisticians—who can build applications and utilize the title system. Biddable, which is a title-escrow system for the $125B auction market, is aimed toward auction houses and bidders.
- For bidders, Biddable will provide access to auctions, especially for international buyers and cryptoholders who don’t have translated or verifiable financial records.
- Today, auction houses lose substantial revenue to bidders who renege on items they win. Because of this, auction houses require extensive financial disclosures from potential bidders just to participate. Biddable will eliminate the need for this invasive process through the use of the title-escrow system.