About blockchain

Blockchain is a method of storing data that makes it very difficult - even impossible - to change historical information. If Rebecca’s purchase of an artwork is registered in a blockchain, it would prevent John from falsifying that record later to assert that he was the purchaser, not Rebecca. 

Blockchain for the art market is currently in a state of flux. Some solutions involve fitting requirements into restrictive frameworks - Bitcoin, for example, was designed to support a digital currency, not artwork provenance records. Other issues include sustainability, control of information and the inability to identify physical works represented on the chain.

Tagsmart & Blockchain Today

Tagsmart’s role is the maintenance of provenance records. For blockchain and NFT records, we provide assurance of good provenance and optional asset identification using our tagging technologies.

As of June 2022, our Digital Certificates will be filed on Polygon. We are also the founders of the National Arts Archive project, creating 1000-year provenance records independent of all digital platforms (including ours).

We remain 'blockchain agnostic' - it is not our role to predict which solution, if any, will prosper.  For that reason, we support our members’ requirements to work with third parties via our Connect service.

Tagsmart & Blockchain Tomorrow

Tagsmart has monitored blockchain technologies since the company was first formed in 2013. Many blockchain technologies are open source and, with our experience of the last six years in provenance, authority management and Certification, we continue to develop the next generation of Tagsmart services to leverage those technologies in line with our commitment to our artists, galleries and collectors.

If you would like to be kept abreast of these developments, please email us at registrar@tagsmart.com.