Poland’s second-largest bank, Bank Pekao, is leveraging blockchain technology to safeguard the nation’s cultural heritage.
In a recent announcement, the bank revealed its partnership with Aleph Zero to initiate Archiv3, a groundbreaking project focused on tokenizing Polish artwork and securely preserving it for future generations.
Tokenization, which transforms physical assets like artwork into digital tokens on a blockchain, enhances the ability to store and manage these assets efficiently.
As part of this initiative, Bank Pekao is digitizing renowned Polish artworks, including masterpieces by Jan Matejko and Stanisław Wyspiański, utilizing cutting-edge 3D scanning technology. The resulting digital versions are then minted as non-fungible tokens on the eco-friendly Aleph Zero blockchain, ensuring their long-term preservation.
Arctic World Archive
The tokenized art will also be archived in the Arctic World Archive, located in Svalbard, Norway. This facility is designed to safeguard critical data from threats such as cyberattacks and natural disasters. The Arctic World Archive is known for its preservation of cultural and scientific data for organizations like UNESCO and the Vatican.
Bank Pekao’s initiative aims to ensure that these artworks remain safe and accessible for future generations, even in the face of global catastrophes. This project reflects an emerging trend in the banking sector to integrate traditional finance with innovative technologies, paving the way for new digital asset management strategies.
In a related development, on October 2, plans were announced for blockchain-based ownership certificates for artworks sold at auctions, indicating a growing movement towards digitizing the art market.
