so lets say that there was a new version of zip encryption that could lock data inside. the main password was the privkey, and the zip program generated a thumbnail if someone entered the publickey.
so now the privkey is obviously of the address that contains the coloured coin. and anyone in the world can have a copy of the zipped up file and know the coloured coin public address. to verify it as being real and valid, by seeing a thumbnail using the public address of the coloured coin
the owner can write a signed message (as he is the only one with the privkey) to show he is the owner of the privkey and ultimately the only one with access to the true high quality 'print'.
ok i think im on the same page as cbeast...
so the owner using the privkey can sign messages announcing the sell of the art and include an auction site or email to contact him for the sell)
in a ethical world that cbeast wants the art world to be. once the buyer hands him the bitcoin. the owner gives the buyer the privkey. now the new owner, can make a new privkey, move the coloured coin from old address to the new address and rezip the image under his new privkey, announcing that all he now has control of the coloured coin.
even if millions of copies of the zip file spread the planet. all people would have access to is the thumbnail
now then....
whats stopping the old owner from then giving away the original privkey to 1000 people so they can open version one zipfile (old password) that have thousands of version1 copies around the internet, thus giving everyone access to the high quality image.
I'm not talking about that at all, but I'm glad you are brainstorming. I'm not against the idea, but I'm not a security expert.
....
but how would you stop it!