Creepy Crypto: welcome to the age of blockchain
Published: 20 JAN 2022 | Updated: 14 FEB 2022
Read on to learn the story behind the artwork.
FINANCE | Blockchain is a revolutionary technology, a new way to arrange things with each other. For companies, but certainly also for society. We have become used to the bank managing our money, the tax authorities arranging allowances and the land registry keeping track of whose house belongs to whom. If a party fails to comply with an agreement, a judge will ultimately decide on the matter.
These institutions have quite a lot of power. Although it is known how opaque and even unreliable institutions can be. And how much social damage they cause.
The bank blocking an account because it does not agree with a business model, the tax authorities discriminating and reclaiming large amounts of money from families, a counterparty not paying as agreed resulting in a threat of bankruptcy. With blockchains this can all be a thing of the past.
Story continues after the artwork details.
Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a decentralized peer-to-peer system that can enable anyone anywhere to send and receive payments.
Zapedski Regular #001
Original Amber Edition
Limited edition NFT in various variants
Limited edition art print on paper,
42 x 29,7 cm (16,5 x 11,7 inch)
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NFT Editions TBA
Printed Edition (1st printing) TBA
Transparant to everyone
Not a handful of central parties manage the registers with balances and property rights but decentralized (and transparent) networks in which everyone can participate. Data is not held at one central point, but at many points; it is transparent to everyone; and no one can make changes unilaterally. Block by block of information is cryptographically strung together (hence the name, blockchain) to form a shared ledger. Not by important men, but by computer power.
No more handshake or scribble on a piece of paper. Also, you no longer have to hope that someone else will keep his/her promises. These are recorded in computer code and executed as soon as intended. Immediately after a transfer, for example, or when a service has been delivered.
No more cloudy decision-making.