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Board Development & Technical Discussion
Merits 1 from 1 user
Topic OP
Mental Exercise to Protect Rare Artwork from Fraud using Bitcoin
by
Alien Evo Stevo
on 17/12/2020, 16:13:33 UTC
⭐ Merited by ETFbitcoin (1)
Bitcoin Community,

As a collector I'd like to use Bitcoins to protect rare artwork from fraud.  Would simply creating a wallet for each piece and allocating a certain amount of bitcoins be enough to prevent fraud?  The digital wallet would be given to the new owner.  I would keep a copy to validate it.

It's my understanding the wallets are appended into the block chain and should be able to be traced to it's original transaction?

Future scenario - If a heir to the artwork took the bitcoin wallet and transacted the bitcoins not knowing what it was for would the first wallet info exist in the blockchain or would it no longer show?  I may hide a special checksum on the artwork to give some level of traceability.

Have a Better idea - please share?

Steve