Poland’s Pekao Bank using blockchain to preserve art in arctic vault

Poland’s second largest bank, Bank Pekao, is using blockchain technology to preserve the country’s cultural heritage.

According to Pekao’s press release, the bank has partnered with Aleph Zero to launch Archiv3, a project that aims to tokenize Polish works of art and preserve them securely for future generations.

Tokenization is the process of converting physical assets, such as art, into digital tokens on a blockchain, making them easier to store and track.

For this project, Bank Pekao is digitizing famous Polish works of art, such as works by Jan Matejko and Stanisław Wyspiański, using advanced 3D scanning technology. These digital versions are then stored as non-fungible tokens on the environmentally friendly Aleph Zero blockchain, ensuring their long-term protection.

Arctic World Archive

The tokenized artwork will also be archived at the Arctic World Archive, a facility in Svalbard, Norway, designed to protect important data from threats such as cyber attacks and natural disasters. According to the Archiv3 statement, AWA is known for storing cultural and scientific data from organizations such as UNESCO and the Vatican.

By using a decentralized ledger, the bank hopes that works of art will remain safe and accessible for future generations, even in the event of a global disaster.

This initiative reflects a broader trend to integrate traditional banking with modern technologies such as blockchain and open new avenues for digital asset management.

Previously, on October 2, Christie’s announced plans to use blockchain technology to issue blockchain-based certificates of ownership for works of art sold at auction.