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 a Pekao press release, the bank partnered with Aleph Zero to launch Archiv3, a project aimed at tokenizing Polish artwork and securely storing it for future generations.

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

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

Arctic World Archive

The tokenized artwork will also be archived in the Arctic World Archive, a facility in Svalbard, Norway, designed to protect important data from threats like cyberattacks and natural disasters. The AWA is known for storing cultural and scientific data from organizations like UNESCO and the Vatican, according to an Archiv3 release.

The bank hopes that by using a decentralized ledger, the artworks will remain safe and accessible for future generations, even in the event of a global catastrophe.

This initiative reflects a broader trend of integrating traditional banking with modern technologies like blockchain, opening new avenues for digital asset management.

Earlier, on Oct 2, Christie’s announced plans to use blockchain technology to issue blockchain-based ownership certificates for art sold at auction.